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South Sudan signs MoU with UAE Investment Company

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January 11, 2012 (ABU DHABI) – As part of the ongoing efforts to mobilise foreign investment South Sudan has signed a Memorandum of Understanding (MoU) with Abu Dhabi Investment Company of the United Arab Emirates (UAE) in order to invest in various sectors in the six month old country.

The Abu Dhabi Investment Company, also known as ‘Investment AD’, was founded in 1977 by decree of the former President of the United Arab Emirates and ruler of Abu Dhabi, late Sheikh Zayed Bin Sultan Al Nahyan. It was originally set up to invest on behalf of the Abu Dhabi government.

In 2007 the company was given a new mandate, to attract and manage third-party funds, in addition to the investment of government assets.

Owned by the Abu Dhabi Investment Council, Invest AD is closely aligned with the long-term diversification and growth objectives of the Abu Dhabi authorities as expressed in the government’s long-term strategy, the Abu Dhabi 2030 Vision, with special focus on Africa and the Middle East.

The Company has expressed its willingness and readiness to invest in South Sudan and also help to mobilise other partners from Europe, America and Asia to invest.

On Wednesday, in Abu Dhabi city, South Sudan’s Vice President, Riek Machar, signed the MoU with the Company’s CEO, Nazem Fawwaz Al Kudsi.

The signing ceremony was witnessed by the South Sudan minister of Roads and Bridges, Gier Chuang Aluong, Governor of Unity state, Taban Deng Gai and Bank of South Sudan’s governor, Cornelio Koryom Mayik, among others.

The visit to UAE come after Machar’s delegation attended a conference in India.

Areas of cooperation and investment covered by the MOU include railways, roads and bridges, housing estate, aviation, shipping, energy and utilities, oil and gas services, financing and securitisation, telecommunications, IT services, minerals and mining, banking, sports facilities, among others.

Relevant ministries in South Sudan will work out the details of the priority areas or projects with the company.

The governor of Unity state, Taban Deng Gai, to this effect also signed a MoU with the same company, at the same occasion, on infrastructures projects in his state.

The Vice President’s Press Secretary, James Gatdet Dak, also said Machar met with a number of other potential investors who similarly expressed their interest to invest in the oil producing fertile country.

Macahr told the investors that his country is managing high expectations of the people after the region gained independence from north Sudan in July 2011.

(ST)

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  • 12 January 2012 05:51, by Madina Tonj

    I am wondering why Southern Sudanese are still having business with Arab Traders. Please you guys must learn lesson when the Middle East Traders arrived in the 17th century and claiming that, they just came to make business later they use money to buy African people and this is why there is a trouble on African communities. Why not calling Asian to do business if need investment in South Sudan.

    repondre message

    • 12 January 2012 06:25, by Mi diit

      Madina,

      This is not the 17th century. We are in the 21st century, so every business person or investor is allowed to invest in South Sudan from all the four corners of the planet earth as long as they abide by our invest laws. Stop living in the past!

      repondre message

      • 12 January 2012 06:45, by Madina Tonj

        Midit.

        I am sorry that, you forgotten the lesson. Please take this example, they Kenyan always saying, money can talks and it is true that money has a power base on the Idea of defining money as an evil in another word. What make nation to grow is not about calling others countries to come to your nation but it is about the people itself need to sitting down exchange and share different Ideas

        repondre message

        • 12 January 2012 06:54, by Madiir

          Madina,

          What ideas do you possess about Southsudan conflicts? A Keyboard and your bare hand can’t tell! shut up!!!

          repondre message

      • 12 January 2012 07:47, by Ahmado

        Mr Midiit:
        I think you forgotten recently history,Arabs made us restless and what saying you are inviting lion to come to eat you children of the new nation tomorrow the will claim your country to theirs am alway telling to my people s.sudan they should not forget history of past educated your children about it my brothers don’t welcome lion to eat us tomorrow thaks all.

        repondre message

      • 12 January 2012 08:32, by Logic

        Saudi owns a chunk of the U.S economy, Qatar has recently bought out much of Greece’s banking sector, UAE own $Bn of assets throughout the globe including Europe, Americas, Asia and Africa.

        Sudan’s problem is not Arabs in general but rather the self imposing Arab elite of Khartoum. So you guys should be happy with this article given the current bad press S. Sudan gets in terms of security.

        repondre message

    • 12 January 2012 06:26, by omoni jr.

      You have to reason beyond your background and nationality,
      we are not at the war with all Arabs execept khartoumers,
      wake up dude.

      repondre message

      • 12 January 2012 06:38, by Madiir

        Omoni jr,

        You have left it to the Kuormediit neme. He answer it properly than you could master.
        Yes!, any competent company is welcomed as long as they would promise to abide by the rules and conducts of their esteemed company.

        repondre message

        • 12 January 2012 07:12, by omoni jr.

          Madiir,

          you have a problem of comprehending English.

          repondre message

          • 12 January 2012 07:20, by Madiir

            Omoni jr,

            Well, what is the need to comprehend English when i could comprehend the context of what is being said.
            English is just for facilitation but not the theme of the matter. So please burn! and burn to ashes!.

            repondre message

      • 12 January 2012 08:03, by Chol A.

        Please omoni, think of the roots of Khartoum and be logic. Don’ t just say we have war with Khartoum only without knowing the sources!.

        repondre message

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