By: Yusuf M Hasan
HARGEISA (Somalilandsun) – A comprehensive guide to investment opportunities in the country is in the process.
The USAID funded Partnership for Economic Growth in conjunction with its local private and public partners is preparing an Investment guide to the country that shall once put in place shall negate prevalent Blind Investment through provision of factual and relevant information pertaining to opportunities in the country.
This was revealed by the Partnership for economic Growth Program’s Investment Promotion Specialists Mr. Adam Ismail during the launch of Somali star Investments-SSI at Hargeisa’s Ambassador Hotel.
Somali Star Investments is a brand name of Transparency Solutions, a Somali-led organization based in the UK and Somaliland. The company which has considerable expertise in sustainable economic development as well as a world-class reputation for research, evaluation, project management and training is beneficiary to a Partnership for Economic Growth grant.
While presenting the draft investment guide for Somaliland at the SSI launch, Mr. Adam Ismail who gave participant an overview of the draft guide also called for inputs from all stakeholders thus ensure an all-encompassing investment data bank.
According to the Investment promotions specialists, an Investment Guide:
• Is A document containing investment policies, strategies and guidelines for a particular country with a view to highlighting that such a country is “open to business
• It seeks to provide clear and easy to understand information about the country’s potentialities for investment and the opportunities that can be taken advantage of by local, diaspora and foreign investors.
HOW WILL SOMALILAND BENEFIT FROM AN INVESTMENT GUIDE?
It is expected that the Investment Guide will:
• Outline the legal and regulatory process of investing in Somaliland for local/Diaspora/foreign investors.
• Provide potential investors with the accurate and frequently updated information that will make them undertake informed investment decisions on the priority sectors.
• Review business failures and successes in order to address perceived threats;
• Profile investment-ready businesses in the country that have already developed their business plans;
• Create a web-based platform for investment opportunities and a one-stop shop for potential investors to be taken step by step through the processes of investing in Somaliland;
The draft list of contents for the investment guide is designed in such a manner thus provide a comprehensive package of information on Somaliland at a glance, executive summary, Business environment, Private sector priority areas, Public Sector Priority Areas and the Regulatory Framework. The Appendices provide a Link to updated 2012-2013 Business Directory among others.
Apart from the 12 bussiness and one NGO grant beneficiaries The partnership works in close colaboration with Ministry of Commerce and the Cahmber of Commerce to mention just a few.