Economy
Puntland has 1600 km of coastline, which is abundant with fish and other natural marine resources. However, after the collapse of the Somali central government in 1991, the coast was left unguarded against foreign intruders. As a result, many ships equipped with heavy trawls and other unlawful fishing equipment have occupied in Puntland's territorial waters. These ships violate catch regulations, including some which keep their catch alive and stock them in waters where fishing has been depleted. Puntland's coastal authorities continue to receive complaints from local fishermen about the damage being done by these outsiders.
Puntland exports great quantities of seafood such as lobsters, dried fish, and tuna. Sea salt is also produced.
Other economic products and activities of Puntland include livestock, frankincense, myrrh, gum arabic, manufacturing and agriculture.
In Las Khorey, there is a medium size fish processing plant that produces and processes great quantities of tuna fish. The fish factory's products are of commercial quality, and its tuna is consumed throughout Puntland and also outside the region. Another fish processing plant is also being constructed in Habo, which locals hope will reduce poverty and unemployment and improve the area's economy.
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Famous quotes containing the word economy:
“Wise men read very sharply all your private history in your look and gait and behavior. The whole economy of nature is bent on expression. The tell-tale body is all tongues. Men are like Geneva watches with crystal faces which expose the whole movement.”
—Ralph Waldo Emerson (1803–1882)
“It enhances our sense of the grand security and serenity of nature to observe the still undisturbed economy and content of the fishes of this century, their happiness a regular fruit of the summer.”
—Henry David Thoreau (1817–1862)
“Quidquid luce fuit tenebris agit: but also the other way around. What we experience in dreams, so long as we experience it frequently, is in the end just as much a part of the total economy of our soul as anything we “really” experience: because of it we are richer or poorer, are sensitive to one need more or less, and are eventually guided a little by our dream-habits in broad daylight and even in the most cheerful moments occupying our waking spirit.”
—Friedrich Nietzsche (1844–1900)