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.

Arab News
Economic and Business News
2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | News Archive
Most Viewed Companies
Ticker Price Volume
GFH 0.46 3,578,848
QNBK 135.9 109,396
DSI 0.39 45,711,538
SABIC 98.06 2,513,945
EEC 18.03 354,774
AMLAK 1.09 12,534,009
AIRARABIA 1.12 4,055,524
Recent News

$32bn worth urban projects 'at tendering stage in GCC'
As many as 801 construction projects with a combined estimated value of Dh117.44 billion ($32 billion) are currently in the tendering stage in the GCC's urban construction sector, according to a repo

Drake & Scull to proceed with Fairmont Abu Dhabi MEP works
Drake & Scull International (DSI), a regional market leader in engineering and related services, has announced that it will proceed with the mechanical, electrical and plumbing (MEP) works for the Fa

Engie completes $762m investment in Tabreed
The National Central Cooling Company (Tabreed) has announced the successful completion of an investment of approximately Dh2.8 billion ($762.32 million) by Engie, a global energy company, to acquire

UAE Central Bank deposits top $33 billion in H1
The total value of monetary deposits at the UAE Central Bank amounted to Dh123 billion ($33.5 billion) during the first half (H1) of the year, Dh122.95 billion of which are in banknotes and Dh50 mill

Qatar sovereign wealth fund trims Credit Suisse stake
The Qatar Investment Authority has reduced its shareholding in Credit Suisse Group to 4.94 percent, amid the Middle Eastern nation’s diplomatic crisis with neighbouring countries.

The coun

GulfBase GCC Index
Search By
  • Company Symbol
  • Company Name
  • Mutual Fund Name
  • News Content
Send this page to a friend

Poll

Looking ahead, what change you are more likely to make in investing in your domestic stock market?