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Sudan’s investment flows reach $4,1 billion in 2016: report

April 18, 2017 (KHARTOUM) - Sudan’s investment report has revealed that 2016 investment flows reached $4,1 billion.

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King Salman bin Abdulaziz and President Bashir witness the signing of bilateral financial agreements in Riyadh on 3 Nov 2015 (Photo SPA)

The annual investment report, which will be released within few days, said that 2604 investment projects have been licensed in the agricultural, industrial and services sectors in 2016, pointing the size of flows reached $4,1 billion.

According to the official news agency SUNA, the agricultural projects amounted to 668 while the industrial projects reached 811 and the services projects reached 993.

The report mentions that 46,765 job opportunities will be created from these projects, pointing that investment share in the Gross Domestic Product (GDP) has increased by $3,2 billion in the three sectors.

It pointed that the exports of investment projects during the year 2016 reached 4.3 billion dollars, indicating that investment projects contributed to the implementation of the state’s economic policy.

Last February, investment Minister Mudathir Abdel-Ghani said Sudan has offered 220 investment projects to achieve the Arab food security, pointing that Arab agricultural and livestock investment represents 85% of the total foreign investment in the two sectors.

He stressed that foreign investment in agriculture and livestock has risen to $13 billion, pointing it created 446,000 job opportunity in the agricultural sector.

Sudan’s economy was hit hard since the southern part of the country declared independence in July 2011, taking with it about 75% of the country’s oil output.

(ST)