About SOMINVEST
The Investment Promotion Office (SOMINVEST) at the Ministry of Planning, Investment and Economic Development is a statutory body established under Article 6 (sections 1-8) of the Foreign Investment Law of 2015 to: promote foreign investment; rebrand Somalia; facilitate investment entry and retain; and continuously advocate for improved investment policies. SOMINVEST focuses on sector-specific investor targeting and development of new partnerships to enable sustainable investments in Somalia.
SOMINVEST is a specialized and dedicated office, guiding investment in key growth priority sectors, but has also worked hard to support simplification of investment entry barriers such as improving the visa and tax regimes as well as the labor law. Moreover, in developing Somalia as an investment brand in its own right, SOMINVEST’s ‘Brand Somalia’ provides a detailed country profile for investors and strives to positively portray the country oversees while highlighting the country’s competitive products for international markets.
Investment Promotion Section
Investment Facilitation and Support Section
Brand/Communication Somalia Section
Research and Policy Advocacy section
Main Objectives
- Promote Foreign Direct Investment flow to Somalia.
- Develop and maintain scientific investment related data that can aid investors make smart choices to invest in Somalia.
- Establish investor outreach platforms and missions to facilitate investor entry.
- Execute a robust communication strategy to position Somalia as a favorable investment destination.
- Provide Aftercare support and dispute avoidance/resolution mechanism to improve investor experience.
- Offer policy advocacy and support across the investment cycle.