Business | Investment
Foreign direct investments to Sudan reaches $20 billion
Dr. Mustafa Othman Ismail, advisor to the president of Sudan, said that there has been a huge increase in the inflow of foreign capital into the country.
- By Abdul Rahman Shaheen, Correspondent
- Published: 23:21 March 19, 2009
Riyadh: Dr. Mustafa Othman Ismail, advisor to the president of Sudan, said that there has been a huge increase in the inflow of foreign capital into the country.
"The volume of foreign investments in the country reached more than $20 billion until the end of last year.
"The International Criminal Court's decision to issue arrest warrant for President Omar Al Bashir does not affect adversely on the inflow of foreign capital. The government is providing all the guarantees and facilities for the investors," he said.
Addressing a press conference here, Dr. Mustafa announced plans to hold the first Sudanese GCC - Forum in Khartoum in the near future. "The Forum, which will be held under the patronage of the government of Sudan, would focus on the economic, social and cultural issues with a wide participation of the GCC States and Sudan. Several prominent figures, including economic experts, writers, academics and officials will take part in the event," he said.
Replying to a question from Gulf News, he said that discussions were held with Abdul Rahman Al Atiyah, secretary general of the Gulf Cooperation Council, about details of the Forum. "A charter has been worked out in this respect and it will be signed during the forthcoming visit of a delegation from the GCC General Secretariat to Sudan.
The delegation will be headed by Abdul Rahman Al Atiyah," he said. Dr. Mustafa said that there has been an agreement with the GCC to create a permanent Sudanese GCC Forum, which would be comprised of Sudan and all the six GCC States.
This Forum would work to boost the bilateral relations in the economic, cultural, social and economic fields," he said adding that broad outlines have been worked out for the creation of the forum. "We are anticipating that the visit of the GCC Secretary General, after the Arab Summit, to be held in Doha later this month, would herald a new era in boosting the ties of Sudan and the Gulf States to a new height," he said.
According to Dr. Mustafa, Saudi Arabia tops other GCC States in terms of investments in Sudan. "The Kingdom's volume of investments in Sudan reached $8 billion until the end of 2008," he said adding that Sudan has been witnessing steady growth and development since Omar Al Bashir assumed presidency during the year 1989.
"The last budget of Sudan before his assuming power stood at $800 million. Now the budget exceeded $13 billion, of which 80 per cent was from its own resources," he added.
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