Mogadishu, Somalia | March 30, 2026: The Ministry of Planning, Investment, and Economic Development (MoPIED) of the Federal Government of Somalia, through its Investment Department, successfully held a high-level validation workshop to approve the SOMINVEST Capacity Needs Assessment (CNA) Report, marking a key milestone in enhancing the country’s investment promotion and facilitation framework.
The one-day workshop gathered senior government officials, technical experts, and SOMINVEST staff to review the assessment’s findings and agree on priority institutional reforms aligned with Somalia’s National Transformation Plan (NTP 2025–2029).
Opening the workshop, the Director General of MoPIED, Mohamed Shire, highlighted the strategic importance of developing a modern, coordinated, and results-oriented investment promotion system capable of transforming investor interest into tangible economic growth and jobs.
“Strengthening SOMINVEST is essential to realizing Somalia’s economic transformation agenda. We are moving from assessment to implementation, focusing on systems, coordination, and measurable results that boost investor confidence and open new opportunities,” said the Director General.
The validated CNA report confirms that SOMINVEST has established significant institutional foundations, including a clear mandate, targeted sectors, and dedicated technical staff. However, the assessment also identifies critical operational and systemic gaps that restrict performance, especially in: Digital investor management systems, inter-agency coordination and investor facilitation, analytical tools and policy support functions, and investor tracking, feedback, and aftercare mechanisms.
The findings further note that the current investor journey remains disjointed, with processes that depend on referrals among institutions rather than a unified service model, which limits efficiency and predictability.
In response, the workshop approved a set of priority reform actions for 2026–2027, including: Establishing a one-stop investment facilitation system, Deploying a digital investment management (CRM) platform, Creating a central investor contact desk/call center, Strengthening research, policy analysis, and data systems, and Implementing a structured institutional capacity development program.
Participants emphasized the importance of aligning Somalia’s investment promotion system with regional best practices while customizing reforms to fit the national context to ensure practicality, sustainability, and impact.
The CNA also highlights that Somalia’s improving macroeconomic outlook, supported by debt relief and increased international confidence, presents a timely opportunity to expand foreign direct investment (FDI) across priority sectors, including infrastructure, energy, agriculture, fisheries, and services.
The workshop ended with a consensus on implementation priorities and a collective commitment by MoPIED and SOMINVEST to put reforms into action that will establish Somalia as a competitive, investment-ready destination.
-End-
