various forms of support for incoming and Established investors,
But also for established investments. The main objective is to attract investments that are strategic and reflected in creation of new jobs, opportunities for graduates’ employment, as well as the creation of new business opportunities for local enterprises thus contributing to the aspirations of Somalia’s National Development Plan.
TAILOR MADE INVESTMENT CONSULTING
SOMINVEST offers investors general and customized business information, such as providing updates and guidance on the latest laws and regulations with respect to FDI, establishing a investments in Somalia, sector-specific and macroeconomic data, state incentives, operational costs, taxation, as well as detailed industry analysis and market reports in various sectors in an effort to help global investors fully discover the potential of the Somali market.
SITE SELECTION AND SITE VISIT SUPPORT
Dedicated SOMINVEST staff are on standby to provide site visit support services including searching for available sites and conducting land studies with required information about costs of acquisition, electricity connection, water supply, and other utilities. SOMINVEST’s support for site selection services is not limited to desk-bound research, but also includes holding site visits with investors, following up infrastructure work, coordinating land development, and collecting all related data and information on-site with regard to feasibility.
SOMINVEST continuously support investors on a regular basis in order to ensure that every phase in the continuing life-cycle of the project goes smoothly. SOMINVEST provides a wide range of exclusive aftercare services, such as facilitation between the government and investors, expansion assistance, workshops, and surveys and policy advocacy regarding the investment climate.
- Advise investors with regard to legal aspects in granting approvals to investor companies in relation to matters such as investor company incorporation and connected documentation and company related corporate affairs, land matters impacting approvals, labour law related advice and advice on other connected applicable laws impacting SOMINVEST as well as in connection with foreign direct investments into Somalia
- Provide advice in relation to legal issues arising in connection with the investment Agreements and connected approvals.
- Examination and commenting on joint venture agreements and other applicable/relevant agreements where required.
SOMINVEST investment facilitation support to investors involves assistance with sites visits, establishing business operations, work and residence permit applications, incentive applications, environmental impact assessment processes, and other relevant licenses. Every phase is handled with a result-oriented, tailor-made approach aimed at facilitating and accelerating bureaucratic procedures from beginning to end.
SOMINVEST does this through constant maintenance of liaison between investors and Ministries, Government departments and agencies, institutional lenders and other authorities concerned with investments; provision and dissemination of up-to-date information on incentives available to investors; Assisting incoming and existing investors by providing support services including assistance to procure authorities and permits required for the establishment and operation of enterprises.
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