Investment projects of 945 million dollars escapes Sudan to Ethiopia

Khartoum-The Higher Council for Investment revealed on Wednesday escaping of investments worth 946 million dollars from Sudan to Ethiopia due to the investment obstacles in Sudan.

The Minister of the Higher Council for Investments Dr. Mustafa Osman Ismail said that around 723 projects in the private sector have moved to Ethiopia at a cost of 946 million dollars because of the obstacles before the investments in the country.

Deputies in the Parliament accused on Wednesday employees in the ministry of investments and some” parasite” characters of utilizing foreign investors to pay the fees of investment measures before the start of the work, saying that this will distort the image of the ministry and Sudan.

The deputies have meanwhile urged the government to take decisive measures to curb the depreciation of the exchange rate.

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Chairman of the National Congress parliamentary bloc Mahdi Ibrahim has said there are complaints by foreign investors that some employees of investment ministry ask them to pay the fees of the investment measures in advance and without the knowledge of the minister, saying that “this act distorts the image of the ministry and Sudan abroad”.

On his part, member of the Parliament Ali Abarsi has criticized the economic and investment policies in the country, saying “we shall change our miserable situation”.

He called for decisive stance toward the policies of the rising in the exchange rate, the electricity prices.

The minister of Higher Council for Investments Dr. Ismail has admitted shortcomings in removing the investments obstacles by the executive organ, saying these shortcomings shall be addressed.