Wednesday 28th August, 2019: The Investment Promotion Office [SOMINVEST]

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At the Ministry of Planning, Investment and Economic Development conducted a National Investment Promotion Strategy (NIPS) with the Federal and Federal Member States representatives.
Attendants included representatives from Federal Ministries of; Agriculture, Livestock, Fisheries, Energy, Labor, Finance, Posts and Telecommunications, Public Works, Central Bank of Somalia and Federal Member States; Puntland, Jubbaland, Southwest, Benadir Regional Administration, Hirshabeelle and Galmudug.
After day-long deliberations on the validation drafts, participants have endorsed both the National Investment Promotion Strategy and Foreign Investor Protection Framework.
SOMINVEST conducted consultations on the National Investment Promotion Strategy and Foreign Investor Protection Framework with Federal Institutions and Federal Member States & BRA on the 24th of July, 2019 and 6th August, 2019 respectively. SOMINVEST has also consulted with the private sector, led by the Somali Chamber of Commerce and Industries [SCCI] on August 7th, 2019.
SOMINVEST has concluded the first round of consultation and validation of National Investment Promotion Strategy and Foreign Investor Protection Framework and will now be forwarded to the cabinet for further deliberation and adoption.
SOMINVEST is mandated to promote Foreign Direct Investment, promote Somalia’s positive image abroad and advocate for an improved investment eco-system.

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