Somalia’s Ministry of Planning, Investment, and Economic Development has presented the Investors and Investments Protection Draft Bill 2020 to the Federal Parliament.
Ambassador Gamal M. Hassan, the Minister of Planning, Investment, and Economic Development, presented the bill on Monday, September 14.
The Bill is scheduled to go through the first reading in the House of the People.
Among other things, the Bill seeks to treat all investors equitably. It also defines national treatment that should be accorded to all investors and investments.
Additionally, the Bill defines how to transfer funds and repatriate investments.
Somalia has been putting measures in place to make the country more attractive to investors. Tabling the Draft Bill before parliament is an example of such a measure.