Monday October 2, 2023
MOGADISHU, Somalia — The Federal Government of Somalia’s recent progress in debt relief is a source of national encouragement, drawing commendation from The Somali Congress of Trade Unions (SOCOTU).
SOCOTU is optimistic about the economic prospects brought about by this development. However, it emphasizes the importance of maintaining momentum through holistic economic and sustainable advancements.
Infrastructure remains a priority for SOCOTU. The congress calls for a focus on the development and upgrade of roads, bridges, and ports to facilitate economic growth and employment opportunities. A well-laid infrastructure is seen as a cornerstone for national development.
Education and skills training are highlighted as essential for workforce empowerment. By nurturing a skilled labor force, Somalia can position itself competitively in the global economic arena. Furthermore, SOCOTU is advocating for policies that will attract foreign investments, seeing it as a catalyst for job creation and technological advancements.
Small and Medium-sized Enterprises (SMEs) are noted for their significant role in job creation and economic diversification. The union is urging the provision of affordable credit and technical assistance to stimulate SME growth.
In the wake of debt relief, the enhancement of social services is underscored. A boost in healthcare, housing, and social safety nets is viewed as instrumental in combating poverty and fostering inclusive growth. Transparent and accountable financial resource management is emphasized to enhance public trust.
Diversification of the economy and fostering a culture of dialogue among stakeholders is seen as essential. As Somalia embraces this significant debt relief milestone, SOCOTU is advocating for a multifaceted approach to development, ensuring comprehensive and sustainable growth.
SOCOTU affirms its commitment to collaborating with the Federal Government and all stakeholders, aiming for a prosperous and inclusive Somalia.