Economists praise Saudi investments in Sudan

Dr. Haitham Mohammed Fathi, researcher and economic analyst of Saudi Arabia, was a key supporter of the Sudan in the political and economic fields. He referred to Saudi investment in Sudan as the largest Arab in terms of size and in terms of projects. It amounted to about $ 35.8 billion over the past 10 years, mostly concentrated in the agricultural sector, where Saudi investment supported 250 agricultural projects in SudSudSudan.

The Saudi Public Investment Fund’s assets jumped to nearly $250 billion, and the fund’s total assets reached $400 billion following the restructuring of the fund and the presidency of Prime Minister Prince Mohammed bin Salman, its board of directors in 2016.

The Sudan possessed huge natural resources, especially agricultural resources, which were the largest in the Arab region and stood on the wharf of exploitation with 175 million arable acres. In addition to the animal wealth of 102 million livestock, he called for optimal exploitation of the differential features between the two countries as the shortest way to successful cooperation, especially as Saudi Arabia is a key supporter of the Sudan.

He noted the Kingdom’s desire for regional development, long-term economic development and economic partnerships linking the Kingdom to its surroundings and working to develop the economic and social conditions in the Sudan.

According to a press release, Saudi investments abroad and the importance of corporate investments directly play a major role in enhancing cooperation with the investment system in various sectors in each of these markets. It is in line with the Fund’s strategy to look for investment opportunities in the Middle East and North Africa region.

He explained that the announced investment companies will work to create financial returns or sustainable value that adds to the local economy, in line with the Fund’s strategy, and will focus on investing in several key sectors, including infrastructure, real estate development, mining, health care, financial services, food and agriculture, manufacturing, communications and technology, and other strategic sectors.

He added that the six companies aim to invest in specific sectors in the Sudan, thereby contributing to the growth and prosperity of those sectors and will work in cooperation with leading partners to strengthen investment partnerships and opportunities. These investments will contribute to attractive returns in the long term, develop cooperation in various strategic sectors and create thousands of jobs in the Sudan directly and indirectly.

Dr. Abubakar Al-Tajani Al-Haj Mohammed, Economic Adviser to the Ministry of Industry and Mineral Resources of Saudi Arabia and a former expert at the United Nations Development Programme, stated that the Kingdom of Arabia has an ambition and vision to achieve by 2030 and that it has development plans that enable it to become a member of the Group of 20 and that it wishes to improve.

It also seeks to ensure its food security and deploy its investments in countries for which it can achieve the goals.

The Sudan is one of the countries targeted by the Kingdom and enjoys privacy in its relations with the Kingdom and assists it by virtue of its neighbourhood.

Abubakar said, “Saudi Arabia continues to be given without one and assists the Sudan. In this procedure, it helps with everything possible and helps itself on the other hand.” He points out that the aim is to benefit from the Sudan’s agricultural resources on the plant and animal side and through its investments in mining and infrastructure, it promotes and succeeds in its investments in other sectors. He pointed out that the studies proved that Sudan is one of the best countries in which the Kingdom can invest to provide resources in terms of land and water and the second and important reason near the distance and that all products and goods can reach the Kingdom in the shortest period of time.

The Sudan constituted a strategic depth for the Kingdom’s food supply. He expressed the hope that Saudi investments would significantly improve the Sudanese economy, lead to a breakthrough in employment and investment returns, whether material or moral, increase in Sudanese exports, improve Sudan’s trade balance, improve the exchange rate and combat poverty.

He called on Sudanese officials to pave the way for all investments in Saudi Arabia and to move away from bureaucracy and corruption.

These statements were made against the backdrop of the announcement published by His Royal Highness Crown Prince Mohammed bin Salman bin Abdulaziz, Prime Minister of the Council of Economic Affairs and Development, Chairman of the Board of Public Investment Management on the second day of the sixth edition of the Future Investment Initiative held in Riyadh. and announced the establishment by the Public Investment Fund of 5 regional companies aimed at investing in five countries, including the Sudan.