Garowe, Puntland, Somalia –
The President of Puntland, Said Abdullahi Deni, presided over a meeting centred on advancing Puntland’s economic landscape. The gathering, held yesterday at the Ministry of Planning headquarters, brought together several cabinet ministers and presidential advisors, marking the formal establishment of the Puntland Economic Development Council (PEDC).
This strategic initiative is poised to enhance the government’s commitment to its constituents, particularly in the effective management of international grants and initiatives. The PEDC will be pivotal in nurturing economic progress. This will help in assuring seamless coordination of global contributions and enhancing investments within the Puntland region.
Mohamed Said Faroole, Puntland’s Minister for Planning, Economic Development and International Cooperation (MoPEDIC), emphasized the need for a thorough evaluation of foreign ventures, especially those channelled through the World Bank, as well as those directly addressing humanitarian needs within Puntland.
Minister Faroole assured that the PEDC would work towards prudent allocation of international grants and project resources. This in turn would align them with their intended objectives and ultimately benefit Puntland citizens. Moreover, the Minister also reaffirmed the Council’s unwavering commitment to transparency and accountability in all its operational endeavours.
The Council’s establishment aligns with Puntland’s long-term vision for sustainable economic transformation and self-reliance. It signifies a promising trajectory toward unlocking the region’s full economic potential. So this would help in becoming a thriving hub of regional development and collaboration. Besides this will turn in improving Puntland’s economic landscape.