From Learning English, this is the Economics Report.
For years, Somalia has been called a failed state. Piracy, poverty and terrorism have been problems in the country for a long time. But recent improvements suggest that the country is taking steps to a lasting security. Somali officials say a stronger economy is extremely important to peace.
Last week, Somali officials traveled to the United Arab Emirates, hoping to attract foreign investment. The event called the Somalia Investment Summit was held in Dubai. The goal was to present Somalia as a good place to invest.
Somalia is dealing with the effects of a 20-year civil war. Foreign intervention is the main cause of an increased security in the country. Over the past year, African Union troops helped drive al-Shabab militants from major cities. And international naval forces have sharply deceased pirate attacks.
But Ali Mohamed Gedi warns that the results of these efforts could be temporary. Mr Gedi is the former prime minister of Somalias Transitional Federal Government. He says poverty must be ended. He says poverty is the reason young people join al-Shabab.
So if we create jobs for them I believe that theyll play a role in the stabilization and the security of the continent, said Gedi.
The chairman of the Somali Economic Forum - Hassan Dudde agrees. He says the pull of illegal activity, such as piracy is strong when they are no jobs available. He says attracting investment to Somalia now, while security is improving, is very important.
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