September 27, 2015 (JUBA) – South Sudan has incredible, untapped potential across a number of sectors, its vice president told an African investment event held in New York.
James Wani Igga said South Sudan is endowed with enormous natural resources and surrounded by five of the largest and fastest growing economies in Africa.
“South Sudan is ideally situated to access key regional and international markets,” Igga told the summit attended by several world leaders and the business fraternity.
“There are abundant opportunities in all sectors of the economy, with special attention on sectors that draw from the country’s vast natural resources,”, he added.
South Sudan is currently rich in gold, uranium, iron, copper as well as diamond deposits.
According to Igga, the world’s youngest nation presently has the third largest oil reserves in Sub-Saharan Africa at 5 billion barrels, with new opportunities earmarked for exploration.
He however decried the months of conflict that affected the young nation, saying political instability remains a major set back to South Sudan’s post-war recovery efforts.
Violence broke out in the East African nation in mid-December 2013 following political wrangles within the ruling Sudan People’s Liberation Movement (SPLM), until last month when president Salva Kiir and the armed opposition leader, Riek Machar signed a peace deal to end the conflict.