WORLD Saudi Arabia talking to Khartoum about boosting infrastructure and more


Saudi Arabia talking to Khartoum about boosting infrastructure and more

Global Times

19:46, September 13, 2021

A group of Sudanese daily-wage workers wait to be hired in Khartoum, Sudan, June 1, 2021. Sudan is witnessing an accelerating economic decline amid continued deterioration in the exchange price of the Sudanese pound, a rising inflation rate and a great hike in the prices of essential commodities. (Photo: Xinhua)

Sudan is mulling the allocation of six investment sectors for Saudi Arabia under a plan to attract investment to address the country's economic issues.

"There are six sectors to be reviewed during the forum, including energy, electricity, mining, transport and communication, fishery and railways sectors," said Al-Hadi Mohamed Ibrahim, Sudan's minister of investment and international cooperation, at the opening session of a Sudanese-Saudi investment forum here on Sunday. At the event with the participation of organizations, companies and businessmen from the two countries, the Sudanese minister expressed hope that understandings would be reached regarding these investment sectors.

He stressed Sudan's keenness to remove all difficulties facing foreign investors, saying "the circumstances are currently suitable for investment."

He said that Sudan's investment ministry has made great strides in unifying investment procedures through the establishment of a single window.

The Sudanese government was seeking to promote investment and encourage the private sector in a bid to establish an infrastructure that is conducive to attracting foreign investments.

Saudi Minister of Environment, Water and Agriculture Abdulrahman Al-Fadley expressed Saudi Arabia's readiness to enhance economic and commercial ties and investment with Sudan in a manner that benefits both countries.

He referred to directives by the Saudi government to discuss investment opportunities in Sudan in the fields of energy, infrastructure, agriculture and telecommunication.

Meanwhile, Chairman of the Saudi-Sudanese Business Council Hussein Saeed Bahri was reported by the Sudan Tribune website as saying that the size of the standing Saudi investment in Sudan currently amounts to $4 billion. He noted that Saudi investors are expected to double that sum as soon as possible.

"Sudan enjoys promising opportunities, and we have directives from the Saudi leadership to invest in Sudan in the different fields under wide opportunities in mining, agriculture, animal and fishery resources, communications, ports, roads and railways," said Bahri.

The transitional government in Sudan is seeking to attract foreign investment, especially from the Gulf countries, to support the country's reform and stumbled economy.

In March, the Saudi leadership vowed to establish a special investment fund for Sudan in which Riyadh would contribute $3 billion and invites Gulf countries to contribute to the investment fund.

Saudi Arabia is expected to launch agricultural, animal and tourist projects in Sudan.

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