Somaliland: Toyota and Bank of Africa ready to Invest

[Xaaji Xunjuf]

Somaliland: Toyota and Bank of Africa ready to Invest

Tuesday, 15 May 2012 22:04

 

VP C with Mr Frank Marie & Toyota team (seated)By: Yusuf M Hasan

HARGEISA (Somalilandsun) – International investors are in the country to finalize operational arrangements.

The Vice president Hon Abdirahman Sayli today hosted delegations from the Bank of Africa and Toyota at his offices at the presidency where several arrangements were agreed on.

VP Sayli who welcomed the two institutions to the country informed that the government has put in place mechanisms to facilitate foreign investments in the country. He revealed that recent banking laws enacted were part of this policy thus ease funds transfer for foreign investors.

The VP stressed on the importance the Silanyo administration places on investments in the local industry as it especially pertains to creation of employment opportunities and poverty alleviation. He urged the two organizations have to have full confidence of their decision to invest in the industrially virgin country due to its lucrativeness.

According to the Bank of Africa's international relations Manager Mr. Frank Marie, the institution is pleased to enhance its operations in the country and ready to become one of the leading drivers in the banking industry.

The Toyota Merrill company General Manager Djibouti branch Mr. Patrick Wallet thanked the government for all its endeavors to facilitate ease of foreign investments which have encourage his company to invest.

The two delegations also held discussions with various stakeholders including the speaker of parliament Hon Abdirahman Irro, Central bank governor, Chamber of commerce as well as individual businesses.