Somalilandsun – The Minister of Commerce and International Investments is in the last stages of bringing forth a comprehensive legal policy paper on regulations governing the registration of international and associated companies.
The outlined rules have been tailored in tune to/with international governing standardized rules.
This effort has been made possible in conjunction with the World Bank, Ministries of Planning, Finance and the Attorney General’s Office.
In a meeting held for the stakeholders by the ministry at Maansoor Hotel meant to review the paper for any inconsistencies, Commerce Minister Hon. Dr. Mohamed Abdillahi Omar said that it had become imperative for a constructive debate to be held such that anything not binding was not incorporated in the new formulated legal policy.
The local national chamber of commerce was represented in the meeting which was graced by several and diverse participants.
The minister said that they had consulted vast stakeholder including local entrepreneurs before the piece cues cobbled.
This comes shortly, indeed less than as fortnight, since the new investiture department was inaugurated.
The new laws and regulations governing the registration of business and associated franchise would be thus directed under the new department.
It will mainly remove the hitherto bureaucratic bottlenecks that kept at bay potential investors.