The Federal Republic of Somalia has put in place laws and regulation related to attracting foreign direct investment to support economic growth. Over the last years, the government has undertaken deliberate effort to revise laws to promote investment in the multiple productive sector. Some key laws passed by the parliament include; • Somalia Investment Law 2015 • Somalia Agricultural Laws 2020 • Somali Agricultural and Inspection services (SARIS) • Somali Agrochemical policy • Seeds and Varieties Act • Plant Protection and Quarantine Law • National Fertilizer Policy • National Pesticide Policy
Sominvest is the national Investment Promotion Office which supports international investors, promotes and markets Somali products globally and interfaces to Somali ministries and government agencies. The National Investment Strategy prioritises investment into agriculture and livestock, energy and the blue economy. A National Investment Promotion Strategy and Foreign Investor Protection Framework have also been developed.
Somali markets are relatively unregulated giving investors great flexibil ty. The Somali government is keen to work with businesses to develop regulatory frameworks which support them and improve their access to international markets and financ . The Somali Agricultural Trade and investment are the key drivers of de- Regulatory Agency and Somali Bureau of Standvelopment in Somalia that will ensure Somalia ards have been established to develop the reguplays the fullest role in a changing and interde- lations and standards. pendent world. In support of this goal, Somalia has adopted one of the most flexible foreign The recently passed agricultural laws will proinvestment laws in the world. This Investment vide a legal framework for agriculture regulaw, most importantly, treats both foreign and lation in the country, and also covers quality national investors as enjoying similar econom- control of agri-inputs and agri-outputs. These ic and social advantages. Foreign investors have frameworks have been deliberately put in place free access to all sectors of economy unless by the movement to facilitate trade and investinvestments infringe national security, environ- ment in the agricultural sector, which is a signifment, religion and heritage concerns or are icant pillar in the National Development Plan. deemed morally unviable.
INVESTMENT POLICY & LAW
Agriculture Investment Policy, Law and Regulation
Livestock ready for export at the Port of Mogadishu.
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