March 25, 2014 (KHARTOUM) – The Sudanese minister of finance Badr al-Deen Mahmoud announced the exemption of businessmen and investors in the United Arab Emirates (UAE) from the need to obtain entry visa and said they will be allowed to settle in the country for extended periods of time.
He said during a meeting with senior officials of the Abu Dhabi Chamber of Commerce and Industry on Tuesday that the move was intended to facilitate the work of UAE businessmen and contribute to the success of their projects and supporting them to ensure the continued progress of their projects.
Mahmoud briefed the delegation on the facilities and services offered by his country for investors and called on them to boost their investments especially in the fields of agriculture, mining and infrastructure.
He pointed out that the investment law in Sudan offers tariff exemptions for equipment imports and that lands for the establishment of projects are sold for a nominal fee.
The Sudanese minister praised the role played by the UAE companies in the process of economic development in the country through the establishment of projects and strengthening infrastructure.
The 1st VP of Abu Dhabi Chamber of Commerce and Industry Khalfan Saeed al-Kaabi expressed the interest of UAE companies to promote investments in Sudan.
He said that the UAE’s economic relations with Sudan have greatly improved and that Sudan now occupies an advanced rank in the list of major Arab trading partners of the UAE.
Al-Kaabi also noted that the two countries have signed a number of agreements and memorandums of understanding that contribute to the strengthening of economic relations, including the Convention on the establishment of a free trade zone and an agreement to avoid double taxation on income and a memorandum of understanding on investment promotion and protection.
He went on to say that Sudan has always been the favorite investment choice for UAE companies due their faith in the opportunities available in this market noting that there are 11 major UAE corporations and institutions in the Sudanese market including National Bank of Abu Dhabi (NBAD), Emirates Telecommunications Corporation (Etisalat), al-Etihad Cement Company, Gulf Pharmaceutical Industries, Rotana Hotels and Dubai Investments in addition to the Abu Dhabi Fund for Development
The two sides also discussed the organization of a joint UAE-Sudanese Forum to familiarize UAE businessmen on investment opportunities and facilities offered by the government.