UAE investors seek to invest in South Sudan

May 22, 2013 (JUBA) – Major investors from the United Arab Emirates (UAE) have been flocking to the new country in recent months seeking investment opportunities in various sectors.

The investors said they were responding to the visits to their country by the South Sudan’s vice-president, Riek Machar, in which he assured investors in the rich Arab nation of huge potentials as well as the attractive investments laws in the 22-month old country.

Many countries and international private investors still shy away from investing in South Sudan fearing insecurity and corruption, among other uncertainties.

Machar has however been assisting the ministries concerned, particularly the ministry of commerce, industry and investment in marketing South Sudan and trying to persuade the rest of the world about the conducive atmosphere in the new state, the vice-president’s press secretary James Gatdet Dak, told the Sudan Tribune, on Tuesday.

The vice-president believed that South Sudan can become the world’s next investment destination, he said.

If the entire country was connected with itself and to the neighbouring countries with all-weather roads and electricity availed to all its corners, Machar said the two projects would have encouraged huge investment and drive to success the other development projects such as agriculture and facilitate trade, among others.

As a landlocked country without a sea port the leadership also plans to build one of the biggest international airports in Africa at Tali, north of Juba that would land biggest planes in order to connect to the rest of the world by air.

This is in addition to the plans to connect to seas ports of the neighbouring countries by roads, railways and oil pipelines.

During his visit to UAE in February this year, Machar met with senior government officials and representatives of major private companies where he urged them to visit the country and explore investment opportunities.

UAE also pledged to assist South Sudan open its embassy in its national capital, Abu Dhabi, as well as its consulate in the commercial capital, Dubai, in stepping up the diplomatic relations that will help facilitate investment in South Sudan and trade between the two countries.

The Fly-Dubai airline last month launched its first direct flight from Dubai to Juba in order to avail short and affordable direct flights between the two countries.

Another group of major investors from Dubai flew to Juba on their special jet on Tuesday where they met with the vice-president, and expressed to him their interest to invest in major development projects.

The investors will conduct further discussions with the ministers concerned and identify the areas of priorities.

(ST)