Rimarks Consultants was engaged by the Federal Government of Somalia to provide Consultancy Services in Somalia Investment Climate Reform. The assignment built on the initiatives undertaken by IFC highlighting findings and review of the foreign investment law and an assessment of Somalia’s investment policy framework, including the concerns, gaps and recommendations arrived at after the roundtable discussion on investment policy held with key officials to begin to assess Somalia’s investment policy framework.
The principle approach to the assignment entailed desk reviews of existing laws, regulations, policies, documentation on investment, consultation with key players from the public and private sector to identify gaps and potential intervention measures. The Investment Policy and Institutional Capacity Scan specified the following;
- Investment objectives and principles;
- Key barriers to investment and the proposed high-level reforms action plan capturing emerging issues localized to the Somalia environment.
- Institutional mapping
- Integration of the structures and functions of the investment docket within the overall structures of the Ministry
- Capacity gaps and proposed short and long-term interventions