By Asha Elmi - Reporter
Somalia, 29 November 2025 – Somalia’s Upper House has passed the Investment Authority Bill, a landmark piece of legislation aimed at attracting both domestic and foreign investment to the country.
The Bill was approved during the Upper House’s 10th session on Saturday, following extensive discussions and amendments, with 29 senators voting in favour and no objections or abstentions.
The Bill, which had been under review for nearly two years, establishes the Somali Investment Authority, tasked with overseeing and promoting investment in the country.
The new authority is expected to streamline the investment process, provide legal safeguards, and facilitate efficient management of investments.
Key Provisions and Amendments:
• The law outlines procedures for managing investments under $100 million, with specific regulations for registering and approving such investments.
• It includes provisions for the appointment of the Director and Deputy Director of the Somali Investment Authority, ensuring these positions are held by qualified individuals who will be accountable for the authority’s operations.
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• A strong emphasis is placed on investment protection, aiming to safeguard both local and foreign investors from risks and ensure their rights are respected.
• The bill also includes the creation of a one-stop-shop for investors, designed to simplify the investment process and improve efficiency in processing applications.
Minister of Planning, Investment, and Economic Development, Mohamud Abdirahman ‘Beene-Beene’, expressed his appreciation for the Upper House’s role in passing the Bill, emphasizing that it marks a critical step in Somalia’s efforts to modernize its economy and attract long-term investment.
"Speaking on behalf of the Ministry of Planning and those involved in Somali investment, I want Parliament to know that it has made it possible for investment laws, facilitation processes, and marketing to be streamlined. Currently, we do not have anyone to handle the marketing," he said.
The document was first approved by the House of the People in October 2024 before moving to the Upper House for final approval. It now paves the way for the establishment of the Somali Investment Authority, marking a significant advancement in the country’s investment strategy.
The Somali Investment Authority is seen as a crucial step in the country’s efforts to rebuild its economy and create jobs. With this legislative action, Somalia is positioning itself as a more viable option for international investors.
The Bill now awaits Presidential assent to become law.
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