MOGADISHU (Halbeeg News) – Somali parliament is expected the second reading of the companies’ bill on Saturday.
According to the letter by the parliament leadership addressed to the members of the House, the MPs will today gather the parliament building to pass the second reading.
The members of House will peruse the draft bill prepared by the Somali Ministry for trade.
According to the Ministry for Trade, the bill is significant as Somalia seeks to establish itself as a commercial hub of Africa as well as other parts of the world.
The bill will strengthen corporate governance standards and attract foreign investors.
The draft bill was unanimously approved by Somali cabinet in February last year.
Following two decades of civil war, Somalia is rebuilding state institution as it transitions from being a failed state.
It is expected to facilitate ease of doing business and give entrepreneurs a chance to start companies.
Currently, Somalia hosts several companies from Turkey which are operating in the nation.
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