South Sudan woos Kenyan investors
October 19, 2007 (NAIROBI) — Southern Sudan officials have urged Kenyan businessmen to take advantage of existing enormous investment opportunities in the vast region which emerged from the 21-year-old conflict.
Addressing a news conference in Nairobi on Friday in preparation for the forthcoming international trade fair and investment exhibition in Juba, Sudan’s Ambassador to Kenya Majok Guandong said Kenya and Sudan has had a good relationship and encouraged Kenyans to tap on the emerging markets in Southern Sudan.
“We have been living here in Kenya which is our second home for many years. We urge our brothers (Kenyans) to take advantage of existing numerous investment opportunities in the Southern Sudan,” Guandong told journalists in Nairobi.
The southern government, led by former guerrillas, has acknowledged it had a lot to prove to investors wary of financial risk and sporadic bursts of insecurity in the region, half the size of Western Europe.
Since the signing of the Comprehensive Peace Agreement, the businesses have taken a wait-and-see attitude towards investments in the Southern Sudan, mostly because of the negative perception about the region’s ability to give returns.
The landmark peace accord defines most aspects of business operations in the Southern Sudan which will remain completely autonomous on matter pertaining to foreign and local investments.
Guandong said business registration in the Southern Sudan is now easy after the government scrapped many taxes and a lot of bureaucracy.
“Sudan is rich in minerals, arable land for farming, fresh water resources and manufacturing opportunities,” the Sudanese envoy said.
The Juba International Trade Fair and Investment Exhibition, which will run from Nov. 27 to Dec. 3, is aimed at promoting partnering opportunities and encourage international business community to invest in Southern Sudan.
(Xinhua)