China to expand investment in South Sudan after independence
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June 1, 2011 (JUBA) - The Peoples Republic of China - the world’s
emerging second largest economy - has expressed its readiness to
invest in South Sudan after its declaration of independence in July.
The announcement came in a meeting this week between the vice
president of the Government of Southern Sudan, Riek Machar Teny, and a
visiting delegation from China’s ministry of Foreign Affairs.
The meeting discussed diplomatic relations as well as economic
cooperation between the two countries. Machar told the Chinese
diplomats that the region was working to attract foreign investors in
order to realize the expectations of the people of South Sudan after
independence.
In a statement to the press after the meeting, the Director General in
charge of the department of West Asia and North Africa in the Chinese
ministry of Foreign Affairs, Chen Xiaodang, said China was ready to
expand its investment in various economic sectors in South Sudan.
He said the two countries will promote their bilateral relations as
China will encourage its private enterprises to carry out economic and
trade activities between the two nations. Xiaodang also said the two
countries would exchange cultural activities.
The areas of investment will include physical infrastructure,
hydroelectric energy, agriculture, education and health, among many
others.
China is currently the leading investor in the oil sector in Southern
Sudan and has already invested in the constructions of roads. Oil
revenues constitute around 98 percent of South Sudan’s budget.
The region’s secession was made possible through a referendum agreed
as part of a 2005 peace deal that ended decades of civil war between
North and South Sudan.
(ST)
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