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somali lawmakers advise no to foreign investment

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    Lawmaker advises foreign companies against Somalia investment
    27 Oct 27, 2006, 00:48

    MP Bulhan: Mineral/oil exploration in Somalia at this time is "wrong"

    BAIDOA, Somalia Oct 26 (Garowe Online) - A member of Somalia’s interim parliament has advised foreign companies against investing in Somalia during a Garowe Online interview.
    MP Hersi Bulhan, the oldest serving lawmaker in the Somali parliament, directed his words at would-be investors.
    He advised foreign investors against “spending [their] wealth” in Somalia until a national government takes full control of the country. MP Bulhan warned potential investors against being milked for money by people who claim government legitimacy.

    MP Bulhan said that the Somali government has been in the country for a “short time” and that “each group rules itself.”

    In the aftermath of the collapse of the Somali nation-state in 1991, Somali regions and towns fell under the control of various armed clans and sub-clans. The Baidoa-based interim government was created in 2004 to restore the rule of law after more than 15 years of civil war in Somalia.

    Under the clan-based Somali government, MP Bulhan represents Nugal region, which is administered by the Puntland State government.

    On October 11, an Australian exploration company – Range Resources, Ltd. – announced that it had given a Canada-based company – Canmex – an 80% stake in the Puntland natural resources exploration project.

    The Nugal valley of northern Somalia is amongst concession areas granted to Canmex under the deal with Range.

    MP Bulhan said its his opinion that exploration for minerals and oil in Somalia at this critical time is “wrong.”

    Hersi Bulhan served as a Cabinet minister for the government of assassinated Somali President Abdirashid Ali Shermarke (1967-1969). He was elected to the Somali Federal Parliament in 2004.

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