South Sudan is hosting several Egyptian businesses it hopes to lure to explore investment in various under-developed sectors to support its economic recovery after years of conflict.
James Wani Igga, Vice President for Economic Cluster said during the opening of the South Sudan-Egyptian trade exhibition in Juba on Tuesday that the two countries need to work collectively to exploit the vast underutilized resources in South Sudan.
“South Sudan is a land of huge investment opportunities. We are blessed with vast resources in terms of fertile land, water, forests, minerals and petroleum resources, what is lacking in these resources is value addition and the capacity of transforming these resources into finished goods,” said Wani in Juba on Tuesday.
The trade exhibition under the theme “Made in Egypt” has attracted more than 40 prominent Egyptian manufacturing companies ranging from machinery, agricultural products and those dealing in furniture.
Wani disclosed that this trade fair is aimed at boosting business ties between the Egyptian and South Sudanese private sectors, in addition to strengthening economic relations between the two countries.
Dhieu Mathok, South Sudan Minister of Investment said the exhibition is part of the government’s strategic plan to attract foreign direct investments (FDIs) to support economic recovery after years of conflict left the economy weak.
“The president of South Sudan designated the year 2021 as the investment year. The government of South Sudan understands the key role played by foreign direct investment in the development of natural resources, infrastructure and social services,” said Mathok.
He lauded the World Bank and development partners for extending technical support to the Revitalized Transitional Government of National Unity (TGoNU) to start implementing the necessary economic and governance reforms which are still ongoing.
Nevine Gamea, Egyptian Minister of Industry and Trade called for closer cooperation in trade between her country and South Sudan.
She also encouraged Egyptian businesses to explore potential investment opportunities in the country. Enditem