(10-01-24) MOGADISHU (Halqabsi News) — Somali Chamber of Commerce & Industry led a workshop at Hotel Jazeera on 9 January 2024. The gathering drew participation from a broad spectrum of sector representatives, alongside experts from the National Economic Committee (NEC). The motive of the meeting centred on deepening the understanding of Somalia’s recent integration into the East African Community (EAC), with discussions exploring the myriad of prospects and challenges associated with the accession.
Notably, the Somali Chamber of Commerce and Industry officially joined the East African Chamber of Commerce and Industry in a meeting in Zanzibar.
A primary area of discussion in the Mogadishu meeting was domestic revenue mobilisation. The efficient collection of domestic revenue is crucial for the operational efficacy of the government. However, the pressing need to develop an optimal revenue collection strategy was highlighted, especially considering the prevalence of poverty within the populace, which renders them vulnerable to escalating prices and increased taxation. In light of this, it was agreed that comprehensive studies focusing on revenue enhancement should be initiated, guided by experts in the field.
The meeting culminated with acknowledging the Somali business community’s tenacity and invaluable contribution to serving diverse community needs.
Halqabsi News
