Investments in Sudan hit $2bn

Dr Mustapha Othman Ismail, Advisor to the Sudanese president, has underscored the important role of the UAE private sector in investment projects in Sudan, which reached $2 billion (Dh7.34bn) in 2009.

He said this at a symposium held under the title "UAE-Sudan Relations" on the occasion of rehabilitation and reopening of the Sharjah Hall at the University of Khartoum, which was funded by the Sharjah Chamber of Commerce and Industry, under the instructions of His Highness Dr Sheikh Sultan bin Mohammed Al Qasimi, Supreme Council Member and Ruler of Sharjah, to support relations between both countries.

He said Sudan is keen on facilitating and providing investment incentives to Emirati investors and businessmen. He added that economic relations between Sudan and the UAE in the recent period have seen rapid development. The UAE's investments in Sudan increased from 2000 to 2007, exceeding $1.5bn. The economic partnership covers various sectors, particularly the financial sector, telecommunications, building materials industry, hotels and infrastructure.

The bilateral trade between the countries jumped to $600 million compared to a $100m in 2000, showing an increase of 600 per cent.

Dr Mustapha Idrees, Director of Khartoum University, hailed the support of Dr Sheikh Sultan.

Keep up with the latest business news from the region with the Emirates Business 24|7 daily newsletter. To subscribe to the newsletter, please click here.

Follow Emirates 24|7 on Google News.