Ministry of Investment (Somaliland)

Clarification of Responsible Departments

In June 2013, Somaliland President Silanyo renamed the ministry previously known as the “Ministry of Trade, Industry and Tourism (Wasaarada Ganacsiga, Warshadaha iyoo Dalxiiska)”^[1] to the “Ministry of Commerce and Investment (Wasaaradda Ganacsiga iyoo Maalgashiga)”. This clarified which government agency has jurisdiction over “investment.”^[2]

Ministry of Investment Promotion

Somaliland's Ministry of Investment Promotion (MoIP) (Somali: Wasaaradda Horumarinta Maalgashiga Somaliland) (Arabic:وزارة تطوير الاستثمار) was created for the first time on 14 December 2017 to coordinate fragmented investment projects through a single-window approach. Its mission was to proactively seek, attract, facilitate, and promote productive foreign and domestic investment in line with Somaliland's investment and development plans and the national development plan.^[3] The Ministry of Trade has been renamed the Ministry of Trade and Tourism.^[4]

The Ministry tasked and primarily responsible to facilitate both local and foreign investment schemes and encourage the investment opportunities through, promotion, media coverage and employing research and development strategy^[5]

Ministry of Investment and Industrial Development

On 5 September 2021, President Muse Bihi Abdi carried out a cabinet reshuffle and appointed Abdillahi Abdirahman Aare Osman as Minister of Investment and Industrial Development.^[6]

MOIID is responsible for formulating and monitoring investment and development strategies, policies, and programs; developing specialized economic zones; coordinating regional integration; and promoting private-sector development by improving the investment climate for domestic and foreign investors. The ministry also drafts, negotiates, and approves bilateral Investment Promotion and Protection Agreements, issues investment licenses through a one-stop shop system, provides investors with information and promotional materials, and engages with international organizations and other governments to support investment facilitation and broader socio-economic development.^[7]