Somalia and India have signed a Memorandum of Understanding (MoU) in investment.
The two nations signed the MoU in Geneva on Wednesday, September 14.
Mohamed Dubo and Deepak Bagla signed the investment MoU on behalf of Somalia and India respectively.
Dubo is the Director of the Somali Investment Promotion Office (SOMINVEST).
Bagla serves as the Managing Director and Chief Executive Officer (CEO) of the National Investment Promotion and Facilitation Agency of India.
The terms of the MoU state that the two nations will enhance bilateral investment relations.
Secondly, it would help Somalia and India to improve strategic institutional collaboration to allow foreign direct investment (FDI).