Home | News    Saturday 18 January 2014

Major presidential decisions on investments imminent: Sudanese official

separation
increase
decrease
separation
separation

January 17, 2014 (KHARTOUM) – The Sudanese presidential assistant, Ibrahim Ghandour, has disclosed that major presidential decisions and recommendations would be issued within a week particularly with regard to investment.

JPEG - 13.8 kb
Sudanese presidential assistant Ibrahim Ghandour (Ashorooq TV)

Ghandour, who addressed the opening session of the 4th investment forum in the Red Sea state capital of Port Sudan on Thursday, stressed that Sudan’s economy would only improve through investments and increasing production.

He acknowledged however, a decline in foreign investment, saying the government is aware of its reasons and working on resolving them stressing the government puts great emphasis on investments.

The presidential assistant further said the government is concerned with improving investment climate, stressing that political stability and sustainable economic policies are key requirements for attracting investments.

He added the government is aware of the problems encountered by Sudanese banks and described them as temporary, vowing a return to the old banking standards.

Ghandour also asserted the importance of pairing service and manufacturing projects in order to contribute to stability of the economy through reducing inflation rates and improving living standards.

He praised the role played by the private sector and said it endured economic fluctuations and did not transfer its investments and capital abroad.

The governor of the Red Sea state, Mohamed Tahir Aila, for his part, said his state’s doors are open for domestic and foreign investments in order to complete infrastructure projects, saying the Red Sea state enjoys security and stability that qualifies it for attracting investments.

He disclosed the existence of 14 mining blocs and the start of gold and iron production, announcing the completion of the first phase of the industrial city and providing additional 5,000 square meters in order to localize industry and increase exports.

Last November, the Sudanese investment minister Mustafa Osman Ismail acknowledged that inflows of Foreign Direct Investments (FDI) in the country have declined since the secession of the oil-rich south in mid-2011 compared to the prior decade.

He said that the biggest problem facing investment currently in the country is the land market and the exchange rate.

Sudan’s economy was hit hard since the southern part of the country declared independence in July 2011, taking with it about 75% of the country’s oil output. As a result Sudan had been unable to come up with hard currency needed by individuals or businesses who want to import or send profits overseas.

Other investors complain of unfavorable investment laws and bureaucratic hurdles they face when they come to Sudan.

(ST)

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


On the need to redefine Pan-Africanism from Nkrumah to Museveni 2015-05-21 07:11:10 By Trayo A. Ali “It is not the strongest of the species that survive, nor the most intelligent, but the one most responsive to change”- Charles Darwin May 25th is African Day. On May 25-2015 the (...)

Will Sudan allow rights experts to do their job? 2015-05-14 06:50:04 By Jehanne Henry Sudan is set to receive not just one, but three visits from international human rights experts this month: the United Nations special rapporteur on violence against women and (...)

Chaos in Libya poses big threat to Sudan and Egypt 2015-05-13 05:56:16 By Amira Khair Speaking to journalists after briefing the Security Council Mr. Bernardo Leon, special representative of the secretary general to Libya, said "chaos in Libya is a huge problem not (...)


MORE






Latest Press Releases


HRW calls to stop arbitrary detention in Sudan 2015-04-30 21:53:00 Sudan: Surge in Detention, Beatings, Around Elections Free Those Held Arbitrarily; Investigate Abuses (Nairobi, April 29, 2015) – Security forces in Sudan<https://www.hrw.org/africa/sudan> (...)

Sudan’s 2015 Elections: A huge step in democratic consolidation 2015-04-22 13:12:25 EMBASSY OF THE REPUBLIC OF THE SUDAN 3 CLEVELAND ROW, ST.JAMES'S LONDON SW1A 1DD TEL: 020-7839 8080 PRESS AND INFORMATION RELEASE (2/2015) Sudan’s 2015 Elections: A Huge Step in Democratic (...)

Sudanese security arrest rights defender Adil Bakheit 2015-04-18 08:04:21 FRONT-LINE DEFENDRSPress StatementSudan Human rights defender Adil Bakheit arrested Human rights defender Mr Adil Bakheit was arrested on 16 April 2015 by the National Intelligence and Security (...)


MORE

Copyright © 2003-2015 SudanTribune - All rights reserved.