Title: UAE is expected to boost its investments in Sudan: Abu Dhabi Chamber of Commerce
Author: SudaneseOnline News
Date: 05-06-2015, 03:46 PM
04:46 PM May, 06 2015
SudaneseOnline News-Khartoum Sudan
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Abu Dhabi Chamber of Commerce has announced that UAE is expected to boost its investments in Sudan especially in the fields of agriculture, manufacturing, minerals, tourism, and oil, with the upcoming UAE-Sudan Investment Forum
Director General of the Abu Dhabi Chamber of Commerce, Mohammad Al Muhairi, said in press conference on Wednesday that representatives from Sudanese companies will discuss projects where they need to raise investments, and UAE-based investors will discuss opportunities they’re interested in.
The forum is set to take place from May 12-13 in Abu Dhabi, and will see at least 250 people that include ministers and other officials from Sudan, as well as investors and business owners from the UAE.
Various UAE-based companies that have operations in Sudan will participate at the forum to discuss boosting investments, and include Rotana Hotels, Abu Dhabi Islamic Bank, and National Bank of Abu Dhabi, among others.
Meanwhile, Ahmad Al Siddiq, Sudan’s ambassador to the UAE, told Gulf News that Sudan has already identified oil concessions in the Red Sea and is looking for investors to back oil extraction and other exploration projects.
He added that more Sudanese companies may look at the UAE’s equity markets to list, with Sudatel, a telecommunications company, currently listed on the Abu Dhabi Securities Exchange.
In 2014, the value of bilateral trade between the UAE and Sudan reached $2.6 billion (Dh9.5 billion). The total value of investments stood at $2.2 billion in 2013, and is expected to have gone up in 2014
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