16/01/2022
Opportunities for Foreign Investors in Somaliland
Somaliland is a country in East Africa that is developing fast. It is a nation with geographical access point to the Red Sea and the Gulf of Aden. Somaliland shares a long border with Ethiopia, a landlocked country with a population of about 115 million people. Investing in a foreign country has always compelled rules and regulations, a stable political system, and policies that are friendly to foreign investors. The political system is based on multi-political parties, and it has held several free and fair elections with no conflicts. Somaliland has tried to attract many foreign investors over the last decade, and because of its favorable strategy for foreign investors, DB-word has invested in the port of Berbera.
Nevertheless, this democratic and peaceful country of Horn of Africa is keen to get more foreign investors. There are selected sectors which the Promotion, Protection, and Guarantees of the Foreign Investment Law of Somaliland prioritize and these areas are:
1. Agriculture
2. Livestock
3. Fishing
4. Mineral resources
5. Industrial activities using a significant number of inputs produced, by the afore-mentioned sectors.
6. Tourism provided the investment harmonizes with the prevailing social, economic, and infrastructural conditions.
7. Any other investment, in production and service activities, suited to support and stimulate, to a significant degree the development of the aforementioned sectors.
If you are an investor searching for an opportunity to invest in Somaliland. AQN Law Firm based in Hargeisa, Somaliland, with expertise areas in international law, contracts, banking and finance, trade, investment, and commercial law is ready to assist you. Committed to guiding its clients in issues related to legality, building networks, and contracting. Last year AQN has organized a number of training and international trade & transport facilitation conferences, inviting different parts of the community, government, scholars, and universities. The objective of the conference is to bring together all stakeholders involved in the facilitation of international trade and transport in Ethiopia and Somaliland. This conference focused on the exchanging of knowledge and best practices regarding the multitude of challenges both countries face in achieving frictionless trade among them and the rest of the world.