The Sudanese News Agency (SUNA) said that the Sudanese-Saudi Forum, which will be held in Khartoum, establishes the prospects for Saudi investments in Sudan.
The Sudanese-Saudi Forum aims to encourage investment and open it up to global financial and economic institutions.
The Sudanese-Saudi Forum comes as an extension of meetings that took place in Saudi Arabia, focused on strengthening investment fields.
Investment in the economic fields, especially in the agricultural field, occupies the peak of the large investments and projects that Saudi Arabia has adopted in Sudan, according to the agency.
The SUNA agency said: “Saudi Arabia is one of the first Arab countries to invest in our country, and its investments are distinguished by their diversity, as they include agricultural, industrial and service fields. The volume of trade exchange between the two countries amounted to $8 billion in 2019, according to data from the Council of the Saudi Chamber of Commerce and Industry.”
According to SUNA, Riyadh pledged in March 2021 to “invest $3 billion in a joint fund to invest in Sudan, and was keen to ensure that these investments were a catalyst for other government and private investments.”
Last April, Saudi Arabia decided to provide $400 million to Sudan, to help it provide inputs for agricultural production for the summer and winter seasons for the current year 2021.
The Saudi Fund for Development provided two loans to finance projects in the health and education sectors for the year 2020 at a value of 487.5 million Saudi riyals, at 243.75 million riyals for each sector. These two loans are part of the financing provided by the Fund, to support the implementation of dozens of development projects in Sudan.
The Sudanese Minister of Investment and International Cooperation, Al-Hadi Mohamed Ibrahim, said “The ministry has set controls to improve the investment climate and facilitate investor services, by preparing the two guides for the investor , the procedures and the promising Sudan project, which contains details about the opportunities and areas available for investment in Sudan,” noting that his country is continuing on the path of economic reform and attracting investments.