Nairobi, April 25 -- Somalia has removed a number of investment screening regimes that barred deployment of capital, giving foreigners the green light to wholly own their investments, repatriate capital and enjoy full protection in the country.

Somalia Prime Minister Hamza Abdi Barre said trade and investment restrictions arising from foreign investment regimes, cause output losses of about two per cent, hence Somalia's decision to enact the Investments and Investors Protection Law, 2023, to attract foreign capital.

He said that despite its socioeconomic and political challenges, Somalia has turned a new page into an era anchored on the attraction of foreign direct investment while mobilising, consolidating and streamlining local busine...