Somalia m of proven natural gas reserves. Due to its proximity and geological similarity to the oil-rich Gulf Arab states such as Yemen, energy industry representatives believe that the nation contains substantial unexploited reserves of oil. However, the presence or extent of proven oil reserves in Somalia is uncertain. The CIA asserts that there are no proven reserves of oil in the country, while UNCTAD suggests that most proven oil reserves in Somalia lie off its northwestern coast, in the Somaliland region. A survey of the horn of Africa Africa by the World Bank and UN ranked Somalia second only to
Balad District, Somalia supplies virtually the entire domestic market. Balcad Textile Factory was later upgraded and funded by West Germany. SOMALITEX facilities were greatly expanded. It is considered among the best equipped textile plant in Africa. The investment in cotton showed fewer long-term results than the investment in bananas. The Administration of Balcad District of the Middle Shabelle Region supported by the Somali Federal Government encourage the local and foreign investment in the Region. Balad District, Somalia Bal'ad District () is one of the districts of Middle Shabelle region of Somalia. It is located about 36 kilometers northeast of the capital city of