Senators pass investment law, launch review of piracy prevention act
The Somali Senate, led by Speaker Abdi Hashi Abdullahi, passed the law establishing the Somali Investment Agency and began reviewing the Piracy and Hostage Prevention Act, marking a significant step in boosting national investment and maritime security.
The Somali Senate, chaired by Speaker Abdi Hashi Abdullahi and accompanied by Second Deputy Speaker Abdullahi Ali Hersi (Timacadde), convened today for its 7th session, 10th meeting, focusing on two key legislative proposals.
The first agenda item was the third reading of the Somali Investment Agency Bill. Senator Abdiwali Ibrahim Garyare, Vice-Chair of the Senate Committee on Internal Affairs, presented the final report, explaining how the bill incorporated recommendations and insights from senators during the second reading.
Following a brief discussion, the bill was put to a vote and approved unanimously by 29 senators, officially becoming law. Minister of National Planning, Mahmud Abdirahman Beenebeene, who attended the session, commended the Senate for passing the bill, emphasizing its pivotal role in developing and regulating investment in Somalia.
The session then proceeded to the first reading of the Piracy and Hostage Prevention Act, aimed at strengthening maritime security and combating ongoing threats from pirate groups along Somalia’s coast. Deputy Minister of Justice, Ilyas Sheikh Omar, presented a detailed briefing on the bill, highlighting its significance in safeguarding Somalia’s territorial waters and enhancing law enforcement at sea.
The meeting concluded with senators pledging to carefully review the piracy prevention legislation during its next scheduled reading, ensuring comprehensive debate and consideration.
