Mogadishu, (SONNA) — The Somalia Senate has approved the new Somalia Investment Law (2025), establishing the Somalia Investment Promotion Agency (SOMINVEST) under the Ministry of Planning, Investment and Economic Development and the National Investment Council.
The Minister of Planning, H.E Mohamud Beenebeene expressed his gratitude to the leadership and Senators of the Upper House for endorsing the bill, highlighting the significant progress made over the past two years during its preparation and review.
The Lower House of the Parliament previously passed the bill and now awaits the Presidential signature to become effective. The enactment of this legislation is expected to play a transformative role in strengthening domestic investment and attracting FDI into Somalia.
