World Bank To Accelerate Investment Opportunities in Somaliland

[Deeq A.]

 

On Wednesday 6, 2017 The Minister of Justice in the Republic of Somaliland, Ahmed Faarah Adare welcomed warmly a delegation from Work Bank consists of Mr. Robert Struthers, David Sparks, Patrick and others at headquarter of the ministry.

 The minister profusely discussed with the delegation investment climate reform program, public private dialogue to enable design formulation and implementation of policy reforms to accelerate development and establishment platforms for the business in the Republic of Somaliland.

The delegation stressed on transformation the lives of Somalilanders through expanding market opportunities, supporting legal frame work of custom law which was not fully implemented.  The important topics that the minister talked about with the delegation were the importance of maritime security, possibilities of creating electronic signatures and documents. One of the most needed element in Somaliland as the minister and the delegation agreed upon is regulatory reform to stimulate reforms in key areas such ports which considered most burdensome of businesses in Somaliland. The World Bank promised to deliver capacity building for the government officials and private sector institutions on discussed issues.

The delegation pointed out that Somaliland is promising country although there are challenges and obstacles face the country trade across border, paying taxes and custom code among others. This work will strengthen the security and the developments of the country while there is a need support to enable fulfill institutions’ mandates.

Finally, the minister and the delegation assured to continue the dialogue and resolve the challenges and obstacles that face Republic of Somaliland.

By: Mukhtar Abdi Ismail