Abu Dhabi: The UAE is expected to boost its investments in Sudan especially in the fields of agriculture, manufacturing, minerals, tourism, and oil, with the upcoming UAE-Sudan Investment Forum, according to Mohammad Al Muhairi, director general of the Abu Dhabi Chamber of Commerce.
The forum is set to take place from May 12-13 in Abu Dhabi, and will see at least 250 people that include ministers and other officials from Sudan, as well as investors and business owners from the UAE.
It is part of efforts to boost trade between both countries by showcasing Sudan’s investment opportunities and how UAE investors can utilise them.
“Representatives from Sudanese companies will discuss projects where they need to raise investments, and UAE-based investors will discuss opportunities they’re interested in,” said Al Muhairi at a press conference on Wednesday.
Various UAE-based companies that have operations in Sudan will participate at the forum to discuss boosting investments, and include Rotana Hotels, Abu Dhabi Islamic Bank, and National Bank of Abu Dhabi, among others.
Exploration projects
Meanwhile, Ahmad Al Siddiq, Sudan’s ambassador to the UAE, told Gulf News that Sudan has already identified oil concessions in the Red Sea and is looking for investors to back oil extraction and other exploration projects.
He added that more Sudanese companies may look at the UAE’s equity markets to list, with Sudatel, a telecommunications company, currently listed on the Abu Dhabi Securities Exchange.
In 2014, the value of bilateral trade between the UAE and Sudan reached $2.6 billion (Dh9.5 billion). The total value of investments stood at $2.2 billion in 2013, and is expected to have gone up in 2014.
