RIYADH: Sudanese Prime Minister Abdalla Hamdok met with Saudi business owners on Monday at the headquarters of the Council of Saudi Chambers (CSC).
The meeting was attended by Saudi Minister of Environment, Water and Agriculture Abdulrahman Al-Fadhli, Saudi Minister of State for African Affairs Ahmed Qattan, Sudanese Minister of Finance Ibrahim Al-Badawi, Sudanese Minister of Industry and Trade Madani Abbas, CSC Chairman Sami Al-Obaidi, Saudi Ambassador to Sudan Ali Jafar, Sudanese Ambassador to Saudi Arabia Abdul Azim Al-Karouri and executives of major Saudi companies.
Hamdok praised the strategic relations between Saudi Arabia and Sudan. He thanked King Salman and the government for their keenness to ensure that Saudi-Sudanese relations are at the best level and that trade increases.
“We look forward to cooperating with Saudi Arabia in the fields of agriculture, industry, services, infrastructure and energy.”
The prime minister stressed that Saudi investors are ambassadors, and the success of their businesses will reflect a bright image and increase the confidence of international investors in Sudan.
Hamdok announced that a Saudi-Sudanese economic forum will be held to discuss promising investment opportunities and increase cooperation between the two countries.
Al-Fadhli said that the Kingdom and Sudan have capabilities and resources that can provide promising investment opportunities in many economic sectors.
“We are counting on the role of the private sector to maximize the gains and provide solutions to the obstacles that prevent the depletion of goods, services and investments between the two countries so that government agencies can overcome them,” he said.
FASTFACT
• The volume of reciprocal trade stood at about SR4.6 billion ($1.2 billion) in 2018.
• Sudan was Saudi Arabia’s seventh most important Arab trading partner in 2018.
• Saudi investments in Sudan have grown considerably over the past years.
The chairman of the CSC stressed that relations have developed in the fields of trade and investment, pointing out that the volume of reciprocal trade stood at about SR4.6 billion ($1.2 billion) in 2018, making Sudan the Kingdom’s seventh most important Arab trading partner.
Al-Obaidi said: “Saudi investments in Sudan have grown considerably over the past years, with the service sector accounting for the highest proportion of these investments at 49.5 percent, followed by the agricultural sector at 32.5 percent and the industry sector accounting for 28 percent.”
Al-Badawi said the single-window system for investors and the unified federal tax system will be implemented soon to avoid conflicts between Sudan and other nations.
Al-Badawi added that the build-operate-transfer system is the appropriate investment system for Sudan in the field of infrastructure projects.
Abbas said that Saudi investors have greater experience and their proposed solutions to investment obstacles in Sudan are in line with the country’s Emergency Economic Recovery Plan.
