Home | News    Saturday 10 March 2012

South Sudan to host foreign investment conference

separation
increase
decrease
separation
separation

March 9, 2012 (JUBA) - South Sudan said Friday it will host a a high level investment summit later this month expected to bring together more than 300 participants from different parts of the world. The announcement comes as South Sudan’s Vice President draws to a close his visit to the US to promote the young country to investors.

Organised by South Sudan’s ministry of commerce, industry and investment, the summit from 20-22 March will be the first of its kind since South Sudan officially became an independent state in July 2011. After decades of civil war - resulting in the 2005 peace deal that enabled South Sudan to secede - South Sudan is one of the poorest countries the world and relies heavily on imported goods.

Simon Nyang Anei, an undersecretary for investment in the ministry of commerce, industry and investment told Sudan Tribune on Friday that the summit would share and examine existing investment opportunities in different sectors and regions.

The official explained that organisation of such a high level government summit shows that South Sudan is open for business engagement and moving towards integrating into the international economic community.

“The conference will highlight to the world the abundant opportunities and potential area which South Sudan stands to offer after decades of the civil war”, said Anei. The governors of South Sudan’s ten state’s as well as national ministries and "key development partners, associations and investors from different parts of the world".

"The conference would sell the republic of South Sudan as viable investment and business destination”, he explained. The country has minimal infrastructure and problems of insecurity, especially in Unity, Jonglei and Upper Nile States and a largely illiterate population but the government are keen to use the upcoming event to emphasise the potential of both joint partnership and direct investment opportunities.

International companies will be encouraged to engage in commercialising South Sudan’s agriculture and energy industries as well as Information Communication Technology, Anei said.

Echoing Machar’s comments in the US, Anei said that South Sudan was now a sovereign nation having seceded from Sudan, meaning that the eight-month old country did not inherit the economic sanctions the US placed on Sudan for allegedly sponsoring terrorism and for the conduct of its armed forces and paramilitaries in response to the insurgency in Darfur that began in 2003.

“South Sudan is no more part of Sudan. It is already a sovereign nation with business potentials and is free from debts and sanctions as it is no longer part of Khartoum”, he said.

The ministry’s third top official said the new nation has huge potential in oil, agriculture, wildlife and tourism and urged the investors to do business in the region.

A research paper by the Chatham House think tank published in January found that much of the land investment in South Sudan appears to be speculative. A Norwegian People’s Aid (NPA) study quoted in the report found that ’with respect to South Sudan, the size of the deals reflects an investor appetite that is remark- able, given the relative insecurity of the area.’

MACHAR VISITS US

In an effort to promote South Sudan to the world’s largest investors, the Vice President of the Republic, Riek Machar Teny, visited the New York Stock Exchange in in the United States of America on Thursday and held a number of meetings with leading business people.

Machar told the investors that South Sudan is now a sovereign nation with business potentials and is free from the debts and sanctions attached to north Sudan, from which South Sudan seceded in July last year. The issue of debts is contested between the two nations, with Khartoum maintaining that South Sudan should share the burden but Juba has so far refused saying that debt was built up financing the military in its two-decade civil war with southern rebels.

(ST)

Chatham House, Briefing Paper, Jason Mosley: Peace, Bread and Land: Agricultural Investments in Ethiopia and the Sudans - Jan 2012

Guardian: South Sudan set to showcase its foreign investment potential - 14 Dec 2011

How We Made It In Africa: South Sudan investment event looking to lure foreign firms - 19 Aug 2011

Economist: Looking for laws - 4 Feb 2010

Comments on the Sudan Tribune website must abide by the following rules. Contravention of these rules will lead to the user losing their Sudan Tribune account with immediate effect.

- No inciting violence
- No inappropriate or offensive language
- No racism, tribalism or sectarianism
- No inappropriate or derogatory remarks
- No deviation from the topic of the article
- No advertising, spamming or links
- No incomprehensible comments

Due to the unprecedented amount of racist and offensive language on the site, Sudan Tribune tries to vet all comments on the site.

There is now also a limit of 400 words per comment. If you want to express yourself in more detail than this allows, please e-mail your comment as an article to comment@sudantribune.com

Kind regards,

The Sudan Tribune editorial team.

Comment on this article


 
 

The following ads are provided by Google. SudanTribune has no authority on it.


Sudan Tribune

Promote your Page too

Latest Comments & Analysis


Doubts remain over South Sudan peace talks 2015-03-04 21:22:01 By John A. Akec News of a possible end to South Sudan’s 11-month-old conflict was received with guarded optimism at the start of February, and there were good reasons for this. On January 21, (...)

What do we expect from the final South Sudan Peace Talks? 2015-02-27 08:41:32 By Luka Biong Deng As the alleged final and last round of peace talks on South Sudan commenced in Addis Ababa, the people of South Sudan attach little hope and expect nothing as they have been (...)

The Berlin Meeting: What’s at stake? 2015-02-25 11:33:06 By the Sudan Democracy First Group (SDFG) Between 25 and 27 February, Berlin will become the hub for the Sudanese unarmed and armed opposition, invited by the German Foreign Ministry and the (...)


MORE








Latest Press Releases


Archbishop Taban calls for reconciliation and forgiveness 2015-02-23 09:30:38 February 2015 Greetings from Peace Village, Kuron. It is really a Peace Village. I had my peaceful Christmas and a Prosperous New Year in Kuron. God really blessed the area with Peace. You can (...)

WFP appreciates US additional support for S. Sudan’s hungry 2015-02-19 08:20:15 17 February 2015 (JUBA)- The United Nations World Food Programme (WFP) has welcomed a contribution of US$165.5 million from the United States Agency for International Development (USAID) to feed (...)

Press Release from the SPLM/A (IO) in Uganda 2015-02-11 09:39:09 February 10, 2015 1. The office of the SPLM/A (IO) and the presence of its diplomatic representation that was established under the Kampala outcome of the 21st August 2014 is operational and has (...)


MORE

Copyright © 2003-2015 SudanTribune - All rights reserved.