Saudi investments in Sudan to hit SR30bn


09/02/2014 07:30 AST

The volume of trade exchange between Saudi Arabia and Sudan reached more than $ 4 billion dollars, and poised to hit $8 billion (SR30 billion), particularly after the first appearance of many new investments and large by the Saudi private sector, Abdulhafeez Mohammed Ibrahim, ambassador of Sudan to the Kingdom, told local media.

The Sudanese ambassador said the fifth session of the joint Ministerial Committee between both countries will be held in March.

The Saudi Ministry of Agriculture is organizing the meeting.

He said the previous meeting, held in Riyadh, came out with a very important recommendations, including the creation of “Fursas” company with a capital of $100 million. The company is assigned to carry out feasibility studies to enable the investor choose his areas of investment, whether in the field of agriculture, livestock, services or in real estate, he said.

The Sudanese ambassador allayed fears among investors related to the security situation in his country.

He said his country has recently issued new laws to protect Saudi investors and other traders. It has also moved to prevent double taxation.

Sudan provides a conducive environment for Saudi investors, he was quoted as saying the report.

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