South Sudan government meets investors in Dubai
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June 6, 2011 (JUBA) - A high level delegation of the Government of
Southern Sudan (GoSS) headed by the Vice President, Riek Machar,
discussed with potential investors from Middle East in Dubai, the
capital of the United Arab Emirates, investment opportunities in the
soon-to-be Republic of South Sudan on 3 June.
JPEG - 44.5 kb
South Sudan Vice President, Riek Machar (photo: AFP)
The region will formally become independent on 9 July following the
overwhelming vote for secession from the rest of Sudan during the
self-determination referendum, conducted in January 2011. The
plebiscite came as a result of the 2005 peace deal between North and
South Sudan that ended 21 years of civil war.
South Sudan is among the poorest countries in the world in terms of
infrastructural development and services delivery to its people,
though it has economic potentials in agriculture and oil, among
others. GoSS has stepped up efforts to attract foreign direct
investment in order to address the challenges and meet expectations of
the people.
Machar and his delegation met with senior officials of the host
government as well as with a group of leading investors from the
Middle East.
The delegation listened to presentations by the investors who
expressed interest to invest in South Sudan in various sectors after 9
July, when the region formally becomes independent.
Also among the potential investors that met with Machar in Dubai
included representatives of one of the leading American companies in
construction equipment, Caterpillar. The company which was represented
by its partner, Traficgura Company, also discussed the possibility of
investing in crude oil in South Sudan while financing major government
projects on a loan basis.
Among the delegation that accompanied Machar to Dubai were the
minister of finance and economic planning, David Deng Athorbei;
minister of legal affairs and constitutional development, John Luk
Jok; minister of investment, Oyai Deng Ajak; minister of energy and
mining, Garang Diing; and former state minister of energy and mining
and member of South Sudan petroleum corporation, Angelina Teny.
Machar is also expected to proceed to Washington DC in the US on 6
July for bilateral talks with the US administration.
(ST)
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