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Saudi Arabia investors complain of difficulties in Sudan

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Third Meeting of Saudi Sudanese Joint Business council in Khartoum on 11 December 2016 (Alriyadh.com Photo)

December 11, 2016 (KHARTOUM) – A group of investors from Saudi Arabia on Sunday have complained of difficulties facing over 500 projects in Sudan.

On Sunday, the Saudi Arabia Embassy in Khartoum has opened a liaison office to follow the economic, investment and commercial cooperation between the two countries and ease difficulties facing Saudi investments in Sudan.

Speaking at the third Saudi - Sudanese Joint Business Council on Sunday, the head of the Saudi Arabia investors group, Hussein Bahari, said that Saudi investors are facing difficulties to transfer their profit, getting hard currency and the various investment procedures.

Also, Bahari has complained of sudden decisions issued by Sudanese authorities such as increasing diesel price by 200 per cent, which highly affects investments in Sudan.

The new Saudi Ambassador to Sudan, Ali bin Hassan, pointed that Saudi investments in Sudan face some difficulties, stressing that the two parts are able to overcome it.

“Saudi Arabia encourages investments in agriculture and animal breeding in Sudan,” said bin Hassan, adding that that the two countries have the strong political well to enhance mutual cooperation.

Recently, Sudan has allocated 1 million feddan in Upper Atbara and Setait Project, which is expected to start production at the end of 2016, for Saudi Arabia government investment.

On his part, the Sudanese Businessmen Union chairman, Saoud al-Brair, pointed that Sudan is keen to solve all the problems facing Saudi investments in Sudan, pointing that the Labor Act might be amended.

Al-Brair said that the Saudi- Sudanese Businessmen Council is a good channel to enhance economic cooperation between the two countries, solve problems and ease Sudanese exports to Saudi Arabia.

Saudi Arabia has the largest Arabic investments in Sudan that expected to reach $ 15 million by the end of 2016. Some 196 investors from Saudi Arabia are active in producing fodder, wheat and sorghum, which are exported to Saudi Arabia.

(ST)

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