Sudan heading towards political and economic stability: VP

November 30, 2013 (KHARTOUM) – The First Vice President of Sudan Ali Osman Taha said that criteria for investments in the country include the type of social returns that could be gained and responsibility for the community that achieve the interests of the citizens.

At the First States’ Forum for Investment which kicked off on Saturday, Taha urged state governments to make sure that their lands are free of any disputes and to resolve them swiftly if they exist.

The 1st VP also vowed to allocate investments made by the central government to states fairly and to build infrastructure in vulnerable areas adding that Khartoum is working hard to stabilize restive states.

He also called on governors to focus on agricultural investment particularly since the country enjoys vast fertile lands and noted a previous initiative by the Saudi Arabian King for Arab food security that utilizes Sudan’s potentials.

Taha praised the new investment law saying it meets the demands and aspirations of national and foreign investors alike but cautioned that for it to succeed it has to be properly implemented.

He stressed the commitment of the government to provide infrastructure in the form of dams, roads and water supply through partnerships with the private sector through BOT, loans , grants and creating an environment to encourage investment.

For his part, the minister of Investment Mustafa Osman Ismail, disclosed that investments have grown this year after falling in 2011 and 2012 because of political and economic instability that resulted from the secession of South Sudan.

He said that 226 investment projects were approved so far this year in various sectors in all states.
The minister of Finance and Investment in Nahr al-Neel state Muddather Abdel-Ghani said that the forum came up with a number of recommendations including better coordination between the Federal and state organs, the preparation of a digital investment map and enhancing the capabilities of employees in the investment sector .

“The coordination between the center and the States is an urgent need and a guarantee for the investor who wants simplified and standardized procedures,” he said.

Abdel-Ghani said that the event is gaining great importance in addressing the capacity to attract more investments in the light of international competition to obtain a larger share of investment and capital inflows.

He said that the new investment law covered all of previous failures or shortcomings and offered investors more guarantees and privileges .

The minister revealed that the state will inaugurate about 14 investment projects that began production during the current year that are devoted towards exports.

He said they also have a special court to adjudicate investment conflicts.

(ST)