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Sudan seeks Gulf investments.

Byline: Arab News

RIYADH: Businessmen from Saudi Arabia and the Gulf are invited to invest in Sudan's agriculture. The decision follows the recent visits of businessmen from several Gulf countries, who expressed a desire to invest in the country.

Sudanese soil is rich with water and ideal for agriculture - factors that are expected to encourage businessmen to invest money to grow crops for the needs of Gulf countries.

A source told Al-Eqtisadiah newspaper that investors are currently invited to consider an agricultural project to grow wheat at a 30,000 hectare of land worth SR1.8 billion. He added that the land would be offered for rent for 30 years and that the Sudanese government would provide investors with facilities to ensure the project becomes a success.

He added that profit is guaranteed, and that the land is arable and full of water. He further said that a number of Gulf businessmen visited the area and that many of them have rented land and prepared project studies to begin the project.

A source from the Sudanese embassy in Saudi Arabia denied that the current arrest warrant against the Sudanese president would affect the flow of investment into the country.

"There are no withdrawals on foreign investment coming to Sudan. Gulf delegations are meeting the Sudanese government to discuss investment and sign agreements. The Sudanese investment law guarantees protection for investors and provides incentives," said Ahmad Omar Ibraheem, economic consultant at the Sudanese embassy.

The size of Saudi investment in Sudan from 2000 until the end of 2007 was estimated to be over $4.5 bullion (SR16.2 billion); the number is expected to rise by the end of this year.

Copyright: Arab News A[umlaut] 2003 All rights reserved.

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Publication:Arab News (Jeddah, Saudi Arabia)
Date:Aug 3, 2008
Words:297
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