The Ministry of Commerce & Industry is dedicated to formulating and implementing robust laws that govern various aspects of trade, commerce, and industry in Somalia. These laws are designed to create a legal framework that fosters a conducive business environment, protects the rights of stakeholders, and ensures fair and ethical practices across all sectors. Key areas covered by these laws include business registration and licensing, intellectual property rights protection, consumer protection, competition regulation, foreign investment, and commercial dispute resolution.
By enacting these laws, the ministry aims to provide clarity and certainty to businesses and investors, reducing ambiguity and encouraging investment in the country. Moreover, these laws promote accountability and transparency, which in turn enhances investor confidence and attracts foreign investment. Equally important, consumer protection laws safeguard the interests of Somali consumers, assuring them of quality products and services while addressing any potential grievances.
To ensure the effective implementation of these laws, the ministry collaborates with other government agencies, judicial bodies, industry associations, and international partners. Regular reviews and updates are conducted to keep the legal framework aligned with the changing economic landscape and emerging global trends. By working towards a comprehensive and well-structured legal system, the Ministry of Commerce & Industry endeavors to create an environment that supports sustainable growth, encourages innovation, and enhances the overall well-being of the Somali economy and its citizens.
The laws enacted are:
- Company Law
- Foreign Direct Investment Law
- Somali Standards Law
- License Law
- Trademark Law
- Company Regulations Law
