Africa > North Africa > Sudan > Sudan’s minister for investment , Dr. Mustafa Osman Ismail

Sudan: Sudan’s minister for investment , Dr. Mustafa Osman Ismail


In this piece written by Sudan’s minister for investment , Dr. Mustafa Osman Ismail explains the country’s successful efforts to improve the business climate, the top five areas for investment in the country, how Sudan offers complete protection for investors by means of the investment security fund, and why British investors are the majority significant for the country

Investment has become a top priority, particularly foreign direct investment – and not only for third world nations but for well developed nations as well. Rich nations as well compete for investment . In Sudan we are as well trying very hard in order to create a good environment to compete, particularly with those nations that are within the region. We need from the investors the following the three things: additional resources, additional jobs and additional technology. We think that we can get this from the investors.

We started to attract foreign investment in the year 2000. We have developed our rules and institutions to such an extent that between the year 2000 and 2010 within this 10 years Sudan was number two in the region of attracting foreign direct investment . Saudi Arabia was number one, attracting $48 billion dollars of FDI. Sudan attracted $29 billion dollar between the years of 2000 and 2010 of FDI.

Next the separation with South Sudan in 2011 and the loss of oil, our economy started to be in an unstable situation. Firstly we had shortage of currency, and secondly we had problems of stabilization of our currency, so we fell to number four. We as well started to lose some foreign direct investment due to new bad environment.

This is why the government last year took a very significant decision that we should work hard in order to regain our position, but not as number two – as number one, competing with Saudi Arabia once again.
The government is very ambitious in investment . So what we did is the following:

Concerning the laws, we have a new investment law that passed in 2013 that is much better than before, giving additional facilities, less taxation, less customs and duties. We got rid of seaport and airport 15% charges. We are presently in a better position. We have very attractive law, which is in action presently. Administrative wise: in order to make it easy for the investors, we developed a one-stop shop, instead of investors going to different ministries and different states. The business climate is much better and getting improved.

We have done our research and identified the five areas where investors should come and invest:

1) Minerals: Gold is the major mineral. We have presently additional than 103 foreign companies from Turkey, China, Canada, Russia, from Ukraine and so on.

2) Oil: Next we lost 75 % of the oil resources to South Sudan, we are presently concentrating on additional oil discoveries. We have additional than 40 blocks. We are presently inviting investors and our aim is to develop our existing and export oil by next year.

3) Agriculture: in agriculture, there are opportunities in sugar, oil, corn, wheat, animal food. We have the right climate and of course the fertile lands around the River Nile.

4) Livestock: We have additional than 100 million sheep and cows, and we are exporting to Gulf nations. In 2013 year alone, we have exported over four million heads of sheep to Saudi Arabia. What we want to do is develop this sector by exporting red meat, but we need investors approaching and open slaughter houses, we need some industry.

5) Services: this includes banking and telecommunications.
What makes Sudan very appropriate is that we capitalize on our strength in areas that others cannot compete with us. We have a different climate, location, and the Red Sea. At the same time as you look at around us, they lack this. The Gulf needs the food security, food, meat, wheat, and animal food. The best place from which it can procure these necessities is Sudan. Although we have problems, they know that Sudan is the place where they can have their food.

We have the investment security fund. If anything goes wrong in the country we stand by the investor. The purpose of this is that if anything unforeseen happens to investors, his money and his equipment will be protected. Protection of the investor is very significant for us; they can enter and leave anytime.
My last message to British investors is the following: The UK is the majority significant European country for us in terms of investment . They have been here for 50 years, they know our culture. The British know our system better than anybody, we speak their language. So I say to British investors: come and invest in Sudan.

Related Articles
  • Africa's Relationship With China Is Ancient History

    2017/07/02 In 2002 South Africa's Parliament unveiled a digital reproduction of a map - of China, the Middle East and Africa - that some speculated could be the initial map of the African continent. The Da Ming Hun Yi Tu - the Comprehensive Map of the Great Ming Empire - was drawn up around 1389 during the Ming Dynasty, according to historian Hyunhee Park.
  • Africa: Making Things Happen at the Bank - 'Not a Talk Shop' - Akin Adesina

    2017/07/02 Dr. Akinwumi Adesina is focusing on five areas to achieve the African and world goals for a prosperous continent since becoming president of the African Development Bank - Africa's major public financial institution in September 2015. He was a keynote speaker at this month's Corporate Council on Africa's U.S.- Africa Business Summit in Washington D.C. and moderated a lively panel with five African government ministers. He as well received the Gene White Lifetime Succcess Award from the World Child Nutrition Foundation. This week, he was named the 2017 recipient of the World Food Prize, a prestigious honor that includes a $250,000 award. In an interview in Washington, DC, Adesina discussed the Development Bank's ambitious schedule and his vision for attracting the increase capital Africa needs. Posting questions for AllAfrica was Noluthando Crockett-Ntonga.
  • Climate change laws around the world

    2017/05/14 There has been a 20-fold increase in the number of global climate change laws since 1997, according to the most comprehensive database of relevant policy and legislation. The database, produced by the Grantham Research Institute on Climate Change and the Environment and the Sabin Center on Climate Change Law, includes more than 1,200 relevant policies across 164 countries, which account for 95% of global greenhouse gas emissions.
  • North Africa: EU Not Showing 'Political Will' Over Migration Crisis

    2015/08/07 The 28-country European Union has told member states that expressing regret over the new migrant tragedy was no substitute for action. Some 200 migrants were feared drowned at the same time as their vessel sank off the Libyan coast. One NGO helping to save shipwrecked migrants in the Mediterranean Sea is the medical charity Doctors Without Borders. DW has been talking to the chief of their German section, Florian Westphal.
  • Cultural heritage & business opportunities abound in Sudan

    2014/01/03 Once the major country in Africa (before the official secession of the southern region in 2011), Sudan sits at the vitally geostrategic crossroads between sub-Saharan Africa and the Middle East and has one of the continent's broadest and most ample variety of resources – human, natural, social and economic – all within its extensive borders