UAE investments in Sudan exceeds 2 billion dollars
23 April, 2011
Khartoum April (Sudanow)- The Ambassador of the United Arab Emirates (UAE) in Khartoum, Hassan Ahmed Al-Shihi has said his country is currently investing over two billion US dollars in the Sudan
Al-Shihi said, in an interview to Al-Khaleej press on the occasion of holding the first forum on investment opportunities for the Sudanese nationals working abroad which began Friday in Al-Sharja, UAE, that his country is keen to see an increase of its agricultural investments in Sudan
He stated that the investment climate in Sudan was attractive, adding that bilateral relations between UAE and Sudan were a model for the fraternal and cooperation ties, describing them as historical relations
The UAE ambassador revealed that a fair amount of deals were signed in economic, technical and cultural cooperation and information exchange spheres, explaining that UAE government and Abu Dhabi Development Fund have extended loans and assistances to Sudan represented in a number of vital projects in the fields of roads, railways, spinning and textile factories and support of the balance of payments
He affirmed that the economic bonds between the two sister states were advanced and that could be seen in the several and successful UAE investments in Sudan, explaining that the development of the bilateral relations could be viewed through the volume of commercial exchange between the two countries which jumped from 697 million dollars in 2008 to 1.1 billion dollars in 2009,a rate of 56.8%. so that Sudan is now occupying the 33rd rank among places of investment for the United Arab Emirates, in its overall investment abroad, moving up the ladder from 44 in 2008
Al-Shihi described the investment climate in Sudan as good and attractive for investors for its strategic location and possessing of natural resources and potentialities, affirming that the economic policies Sudan adopted including economic liberalization, restructuring of the economy and privatization of public enterprises besides cancellation of state grip on some productive and service activities and modernization of investment acts and regulations altogether have encouraged investments
He encouraged UAE investors to come to Sudan, pointing out that a memo of understanding between Sudan and the United Arab Emirates was signed on encouragement and safeguarding of UAE investments in Sudan
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