Home | News    Thursday 13 November 2008

Int. Finance Corporation looking to South Sudan’s potential

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November 11, 2008 (JUBA) -– A member of the World Bank Group said it will explore investment opportunities in Southern Sudan following successful investment climate reforms. "New opportunities are emerging in such sectors as energy, construction materials, hotels, trade finance, and microfinance," a press release said.

The International Finance Corporation (IFC), one of the World Bank Group members, says that it aims to create opportunity for people to escape poverty and improve their lives. The corporation supports private sector development, mobilizes private capital, and provides advisory and risk mitigation services to businesses and governments.

Jean Philippe Prosper, IFC Director for Southern and Eastern Africa, recently returned from a visit to Southern Sudan with increased confidence in potential investment projects.

“More stable conditions on the ground and an improved business environment have created the right conditions for IFC and other investors to consider new investments in Southern Sudan,” said Prosper. “IFC wants to do more to encourage investment that creates new opportunities for the people.”

The semi-autonomous Government of Southern Sudan recently enacted four investment laws to provide a legal framework that supports private investment.

The government also established a business registry that has registered more than 3,600 companies since May 2007, with the help of IFC.

Laurence Clarke, Manager of the World Bank Sudan office, said, “The World Bank will do all it can to assist IFC and private businesses in supporting key sectors that will contribute to Southern Sudan’s rapid development.”

A team from IFC and FIAS, an advisory service of the World Bank Group, has assisted Southern Sudan since 2006 to improve the investment climate. The team helps build local capacity to support and implement business environment reforms.

The IFC/FIAS team is also helping establish the Southern Sudan Investment Authority and a consultation mechanism for public-private dialogue.

IFC and the World Bank also plan to help the regional government organize an investor conference in the near future.

(ST)

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  • 13 November 2008 08:00, by Deng Gai

    Bravo!to IFC,BRavo to the Goss for they have immprove the climatical condition of the investment in South Sudan,without foreign investment the economy of the country is always kept low.I think this moves cames as a result of the collective effot to consolidate peace in S.Sudan.my advice to the GOSS is to make good use of this chance in a wise and orderly manner which will not later disappointed these investers.

    repondre message

  • 13 November 2008 08:50, by Yaak Barach

    Thanks Mr. Deng Gai for your appreciative comments about the efforts of GOSS to bring development and changes to the living standards of our poverty stricken region through initiatives such as this. Alot of commentators on this web are only good at shouting negative and unrealistic ideas against the GOSS, which in my view is naive and irresponsible. How can a realistic thinker expect a government that was formed scratches only threes years to modernize a war devastated region in such a short moment?

    By the way i support constructive criticisms against GOSS but i am against baseless and stupid criticisms. Let’s give our leaders time and support if we are going to see any roads, hospitals, factories, railway lines, shopping malls ,you name it.

    repondre message

    • 13 November 2008 10:58, by Julia Anok

      it soundful but message is that direct them in other seven states of south not that current capital city juba which have asquake magnetitude.

      repondre message

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