Sudan has showcased 102 potential ventures worth $16 billion to United Arab Emirates investors at a key joint investment conference between the two countries.
The potential investments are in areas of oil and gas, mining, agriculture, livestock, real estate, tourism, services, banking, telecommunications, industry, health and education, according to the Sudan Minister of Investment, Mustafa Ismail.
The minister expects the conference to attract further UAE investments to Sudan in various sectors. He notes that the value of registered UAE investments in his country amount to approximately $11bn.
He indicates that there are 17 UAE companies and corporations operating in Sudan and says that his country is keen to attract more UAE companies to operate in the mining sector.
According to the minister, Sudan exports all of its production of gold, estimated at $3bn, to the UAE, Al-Ittihad reports.
UAE Minister of Economy, HE Sultan bin Saeed Al Mansoori, says that the trade exchange between the UAE and Sudan hit $2.55bn in 2013. He adds the two countries have plans to double the two-way trade over the next five years.
Al-Mansoori says that the UAE deems investment in food security a priority, noting that Sudan has abundant agricultural land and water supplies.