SUPPORTING TRADE & INDUSTRY

Hon. Minister Dr. Musa Qassim OmerMinister for Trade & InvestmentRepublic of Somaliland14 October, 2014

MINISTRY OF TRADE & INVESTMENT

REPUBLIC OF SOMALILAND

2

INVEST IN SOMALILAND Security and democracy Sound regulatory reforms & aggressive

policies Open and ready for investment Prepared swift registration process Provided attractive promotional tax

incentives Abundant natural resources Strategic location in the horn of Africa and

Middle East

“A stable, democratic and prosperous country where the people enjoy a high quality of life.”

Somaliland National Development Plan

SOMALILAND VISION 2030

Main Exports Main Imports

Livestock, Hides & Skins Frankincense Fish

Food, sugar & oil Building material Fuel Clothes Chemicals

ECONOMY

Sector Contribution to GDP

Agriculture 59%

Industry 7%

Services 34%

ECONOMY CONTRIBUTION

Production Sector Service Sector

1. Livestock2. Agriculture3. Fish4. Mining and Oil5. Frankincense and

Gums

1. Financial Sector2. Insurance3. Tourism4. Archeology5. Energy

INVESTMENT OPPORTUNITY

Agriculture Livestock Manufacturing

PRODUCTION SECTORS

Frankincense Fish Mining

PRODUCTION SECTORS

Tourism Archeology Energy

SERVICE SECTORS

• Do not pay taxes for the first three years• Next 3 years entitled to 50% tax

reduction• Import equipment & material duty free

INVESTMENT TAX BREAKS

Capital Repatriation

Profits can be freely repatriated

Initial investment can be repatriated after3 years

Investment Protection

Investment not to be expropriated unless absolutely essential in public interest

Shall be compensated if at all expropriated

INVESTMENT INCENTIVES

Types of Visa

Single Visa Multiple Visa

Application Process

On arrival process Pre-applied process

INVESTMENT INCENTIVES

Income tax 5% Tax on profit 10% Sales tax 5% Fixed asset registration tax 2%

FISCAL POLICY

No minimum wage No collective union bargaining Speedy permit for foreign workers Foreign workers able to repatriate up to 50% of

their salaries

FLEXIBILITY

Names of the Investors 1. Jabir-Saudi Arabia2. Genel Energy

3. RaKGas (EX Ophir Blocks) 4. DNO 5. Ansan Wikfs 6. Enpetro energy 7. Guangzhon dongsong energy 8. Swedleone Company LTD9. Prime Africa

Investment Activity

1. Livestock2. Oil and Gas exploration3. Oil and Gas exploration4. Oil and Gas exploration5. Oil and Gas exploration6. Renewable energy7. Mining8. Mining9. Free zone

establishment

CURRENT INTERNATIONAL INVESTORS

Foreign Investment Law Somaliland Investment Guide Book Technical relevant laws National Development Plan

SOMALILAND INVESTMENT GUIDES

Ministry of Trade and Investment Investment Office One-Stop-Shop

Chamber of Commerce Ministry of Energy and Minerals Ministry of Foreign and International Cooperation Ministry of Industry Ministry of National Planning and Development

KEY MINISTRIES & OFFICES

WEB PORTAL

www.somailandinvest.net www.somalilandtrade.net

www.min-industry.comwww.slministryofplanning.org

www.somalilandlaw.com