Mogadishu, Somalia – Senators have approved the new Somalia Investment Law (2025), which establishes the Somalia Investment Promotion Agency (SOMINVEST) under the Ministry of Planning, Investment and Economic Development, along with the National Investment Council.
The Minister of Planning, Mohamud Beenebeene, thanked the Upper House leadership and Senators for passing the bill, emphasizing the substantial progress achieved over the past two years in its preparation and review.
The Lower House previously approved the bill, which now awaits presidential signature to take effect. The law is expected to significantly boost domestic investment and attract foreign direct investment to Somalia.
