Africa > East Africa > Somalia > His Excellency President Hassan Sheikh Mohamud Rebuilding of Somalia'

Somalia: His Excellency President Hassan Sheikh Mohamud Rebuilding of Somalia'

2014/03/11

His Excellency President Hassan Sheikh Mohamud today praised Somali business leaders for their resilience and entrepreneurialism and called on them to play their rightful role rebuilding the country.

Conference business leaders in Uganda Home, Villa Somalia, as part of government consultations with key stakeholders in the community, the President praised Somalia's business leaders for their resilience and courage in prospering amidst some of the majority challenging conditions in the world.

The President said:

"Our responsibility to you is to do everything possible to provide the conditions in which you can go about your business peacefully and successfully. The government will encourage the development of business to power the Somali economy and provide job opportunities for our young people. Public Finance Management reform is progressing extremely well and we will any minute at this time introduce tax collection to fund basic service delivery to our citizens. In return your responsibility is to play your rightful role in Somalia, being the engine of our economic recovery and contributing taxes to the federal government."

The President said the government was listening to business concerns and advice and guidance for the government and was working hard to improve the business environment and facilitate foreign investment .

The President noted the Council of Ministers had just approved significant legislation for a comprehensive new tax system inclunding direct and indirect taxation on individuals and businesses. The draft legislation presently passes to the legislature.

"I call on Parliament to review and pass this legislation in a timely manner. Somalia will be strongest at the same time as it is fully independent in all meanings of the word - from security to raising revenue. Introducing and enforcing a modern taxation system is absolutely essential to us and I welcome the cooperation of the business community in playing a responsible role contributing to the recovery of our great country."

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