Sudanese forum calls for economic Integration
Dec 11, 2005 (JEDDAH) — Under the banner entitled “Toward a New Map of Arab Food Security”, Sudan’s 1st Investment Forum and Agri- Industrial Exhibition in the Kingdom kicked off in Jeddah yesterday. As the name implies, the forum is not only a call for Saudi investors to look to Sudan for opportunities, but it is also a call for economic integration and cooperation among Arab states.
Naif Al-Adwani, head of the Taif Chamber of Commerce and Industry, said in his opening speech that the timing of the forum was appropriate because it follows the OIC summit that calls for more economic integration and cooperation between Islamic countries.
Following the north-south peace agreement, Sudan is seeking to liberalize its economy in order to spur economic development and help lift its people out of poverty. These goals were outlined in the opening remarks made by members of the Sudanese delegation at the forum.
The forum, which runs until tomorrow, seeks to introduce Saudi investors to available channels of investment in Sudan. As Sudan emerges from a long period of civil war and devastation, the country intends to reconstruct war-ravaged areas, offering economic opportunities for investors.
The forum will also address Sudan’s agricultural and natural resources, and the ways the government aims to utilizing them. During the first working session, the deputy minister of investment, Dr. Abbas Mohammed Abbas, outlined the sectors that his government is opening for foreign investment. The Sudan delegation said its government is providing incentives for foreign investors, such as a ten-year tax exemption for investment in strategic projects.
The Sudanese Minister of Foreign Affairs Ali Ahmad Kurti, as well as several ranking members of the country’s ministries and diplomats in the Kingdom, attended the forum.
(Arab News)