Dr. Abdirahman Beileh, Somaliland’s Presidential Economic Advisor, explicitly stated during his keynote speech at the Somaliland Investment Conference that Somaliland fully satisfies all 11 internationally recognized conditions required to attract global investment.
The two-day event, hosted at the Sarovar Premier Hotel in the capital Hargeisa, has drawn 80 investors from 23 countries, including key participants from the Horn of Africa.
The 11 Essential Conditions for Global Investment:
1. Political Stability
“Instability and investment are direct opposites,” Dr. Beyle asserted.
2. Economic Growth
Investors evaluate whether the economy can sustain their products and services.
3. Public Attitude
“The people of Somaliland are born entrepreneurs,” he proudly declared.
4. Government Policies
Protection and security for investments.
5. Infrastructure
Efficient roads, ports, and logistics networks.
6. Workforce
Skilled, disciplined, and ethical labor.
7. Banking and Finance
Easy access to capital, favorable loans, and seamless transfers.
8. Government Bureaucracy
Fast-track licensing and approvals.
9. Local Business Ecosystem
Availability of lawyers, accountants, and professional services.
10. Quality of Life
Safety, education, healthcare, and family-friendly living.
11. Tax Incentives (Bonus)
“If I bring my capital, don’t I deserve tax relief?” he challenged.
Somaliland: Fully Investment-Ready
Dr. Beyle emphasized that Somaliland possesses political stability, regular elections, and the rule of law — the bedrock of sustainable economic growth.
“Somaliland is ready. The doors are wide open for quality investment,” he proclaimed.
He commended the Ministry of Trade and Investment and highlighted President Abdirahman Mohamed Abdullahi Irro as the ultimate champion of investor-friendly policies.
The conference continues tomorrow 3rd November with sector-specific presentations and direct investor-government engagements.
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Below is the transcribed speech of Dr. Abdirahman Beileh, Somaliland’s presidential economic advisor, as delivered;
“I want to go over factors that are extremely important for investment. There are 10 factors internationally accepted as principles that guide investment, particularly if you do your investments overseas outside the country.
These are called the Ten Commandments or ten very important elements that everybody looks for, so let’s look at them. In fact, there are 10 factors and one extra one called special attention, so 11 of them now.
Number one that people look for is political stability in a country. Everybody looks for political stability. There’s a very strong correlation, a one-to-one correlation between instability and investment amount. The more stable you are politically, the more you can attract because there is no turmoil, there are no turbulences. That’s number one.
Number two, factor number two is economic growth, economic strength. Can the economy of that country support the goods and services that I will produce? Is it a market? What is the growth of that economy? It’s an extremely important element. If the country is stagnant and there is no growth, then that mitigates against additional investment in the country.
Number three, attitude of the public. What is the attitude of the public towards investment, particularly from outside? And we know how, in Somaliland, people are born with that element of entrepreneurship. So we have a very important gift to give to investors.
Number four, government policies. What are the government policies in attracting investment? Is it safeguarding investment and allowing people to be safe in their investments?
Number five is infrastructure. The investor will look at the infrastructure of the country. How far do I have to travel to bring my raw material to my industry? How long does it take? What is the cost? At the end of the day, everything that you do is converted into cost. Any benefit that is also very important.
Number six is labor. What is the labor environment of that country? Labor meaning here the employees. Do they have their skills? Do they have the discipline? Do they have the ethics? At the end of the day, can I find skilled people who have the authority, the skills, and the display for them to produce what I want them to produce?
Number seven, banking and finance. How do I use my liquidity? What does the bank offer? Can I move my money around? What kind of bank offers can I get? Shorter loans, what are interest rates if I keep my money for a while? So banking and finance is another element that people look at.
Number eight, government bureaucracy. How pragmatic is the government in terms of delivering service that I need? If I want to get licenses, how long does it take? There is always a comparison. You can always rate a current country’s rating. If I want my license, how long does it take? If I want to get my licenses for my car, vehicles, industry, how long does it take? So bureaucracy is extremely important for investors.
Number nine, the local business community. Availability of local lawyers, qualified accountants, secretariat. Do they have all these things that would be working in my office? How complicated is it for me to get access to this local market? That is number nine.
Number ten is quality of life. If I am going to move my family to that country, what is the quality of life? So these are ten very important factors that I am sure everybody evaluates when they are doing investment.
One bonus factor, and that is tax incentive. Now, if I bring all my money, if I do investing, do I not get some tax benefits when I am first establishing the company? If I make a lot of money and am giving a lot of taxes in general, what do I benefit from the government?
These are eleven items that are extremely important that everybody looks for. Now, as far as Somaliland’s economy is concerned, Somaliland’s economy is growing. It is growing under a very stable government, politically stable government with elections and the rule of law.
The minister in charge of investment at the Ministry of Trade, they are all here and can attest to this. Of course, the President is the ultimate guide of these policies. There are procedures and activities going on to open the doors, as Mr. President will say all the time, for good investments. So Somaliland is ready. We are very pleased that you are here.”