Size of foreign investments in Sudan amounts to 38 bln USD: report

The size of foreign investments in Sudan has amounted to 38 billion U.S dollars, Sudan's Ashorooq net reported Sunday.

"The size of foreign investments in Sudan has amounted to 38 billion U.S dollars, top of them the Chinese investments which registered 14 billion dollars followed by investments from Arab countries and others," Ashorooq quoted Mudathir Abdul-Ghani, Sudan's Investment Minister, as saying.

"The investment report for the period from 2002 to 2014 has revealed a great increase in the foreign investments due to the policies adopted by Sudan, including the new investment act which provided privileges and motivations for the foreign capitals which are capable to contribute to serving the development and economy," he noted.

He added that Sudan attaches great concern to Arab investments via the Arab Food Security Initiative, pointing out that the Arab investments focus on fields of agriculture and animal diary production.

He stressed that his ministry is working during this period to complete the comprehensive investment map and open the door for the big investments.

The coming period would witness opening of big investment projects for the national investors in the private sector that includes vehicles assemblage and pharmaceutical firms, he noted.

Sudan has been suffering from an economic crisis after losing most of its oil revenues following the separation of South Sudan in 2011.

In 2013, Sudan approved a new investment Act in an attempt to attract further capitals and remove all the barriers hampering the investors via preparing a favorable investment atmosphere.

The new investment law paves the way to end bureaucracy, facilitate procedures and work through consolidated window system, besides full exemption for all production inputs of capital and investment commodities together with protecting the investor's funds and preventing him against trial before civilian courts. Endit