Investors and businessmen need to be acquainted with certain key information about the business opportunities if they desire to establish a business there. The information about business associations and chambers of business must be acquired. It is also prudent to learn more about the services offered by chief business chamber and its functioning should be understood before starting up a new business in Somalia. A few business associations are in existence in Somalia. The Somali Chamber of Commerce and Industry is one of them. Details about setting up a business in Somalia are available with the chamber of commerce, which is one of the most authentic sources of business information.
The Law No. 38 issued in 1970 facilitates the existence of Somali Chamber of Commerce and Industry. The chamber of commerce has played a significant role in providing help to the business community of the nation. The Somali Chamber of Commerce and Industry is a comprehensive organization representing almost all the sectors and areas in the country. It makes endeavors to protect the interests of all business sectors and to ensure a balance in economic development for all region of the country. This organization also plays a significant role in Somali business and has influence on Somali government’s affairs.
The Somali Chamber of Commerce and Industry serves as a doorway to some businesses in Somalia. Its main aim is to develop a favorable investment environment in the country. It portrays the country abroad as the financial hub of the East African Region. The Chamber of Commerce offers a host of services for its members with a view to develop both domestic as well as the foreign business platform. It tries to provide a competitive edge of business in the country. One who wants to start a business in Somalia can have the following services provided by the Somali Chamber of Commerce and Industry:
– The chamber of commerce provides business documentation services including the filing of some of the crucial documents such as Certificate of origin. It also provides papers related to shipping. The documents provided by the chamber of commerce are valid throughout the world.
– If one wants to start a business in Somalia, the Somali Chamber of Commerce provides maximum help. The chamber analyses vital information concerning the economy, export and import data, rules and regulations and trading and provide the comprehensive information for businesses.
– The Somali Chamber of Commerce and Industry has prepared an investment friendly environment in the country and encourages young entrepreneurs to come forward in business activities in Somalia. A range of training programs are offered by the Chamber of Commerce that help in enhancing the competitiveness of the businesses.
So, if you want to start a business in Somalia, the Somali Chamber of Commerce and Industry is among the first sources you ought to contact on setting up a business. With the country recovering from years of hardship, this could be the best time to make a sound investment in the nation.