Government: Investment Law to Be Approved Soon

Ibrahim Jaber, a member of the Sovereign Council and Assistant to the Commander-in-Chief of the Armed Forces, announced the upcoming approval of the Investment Law. He emphasized the efforts being made to enhance incentives for investors. Jaber pointed to the work of the Federal Ministry of Industry in facilitating procedures and approving an industrial law to cover the local market and provide incentives to manufacturers.

During the opening of the first investment forum in the Northern State (Wednesday) in Port Sudan, Jaber emphasized that the forum brings together financial partners, investors, and national industrialists, as well as representatives from friendly and brotherly countries. He directed the Ministry of Transport to start flights to Dongola Airport and expedite the connection of communication networks, as well as repair national roads linking the Northern State with other states affected by floods and rains. Additionally, he called for developing industrial cities and mapping out residential cities to boost industry and investment in the Northern State.

He noted that the Northern State has great potential, with industrial, agricultural, and livestock resources, calling for more efforts to promote the available investment projects and opportunities in the state. Jaber also suggested holding the next investment conference and the “Made in Sudan” exhibition in the Nile River State.

Ahlam Madani, Minister of Investment and International Cooperation, announced the review of the 2021 Investment Law and regulations in coordination with relevant parties. She mentioned conducting field surveys of projects and revisiting shortcomings to achieve goals and promote investment opportunities across various sectors for both foreign and local investors. The aim is to encourage investment, simplify procedures, and plan for additional projects.

Speaking at the opening session of the Northern State’s first Investment and Industry Forum, Madani urged the Business Owners’ Union to take advantage of the available opportunities. She highlighted her ministry’s efforts to provide incentives and promotional packages in all sectors, alongside tax exemptions, to enhance and develop various sectors.

However, she revealed significant destruction in the industrial sector due to the war in the White Nile, Sennar, Gezira, and Khartoum states, with factories halting production and infrastructure being destroyed. Equipment and raw materials were stolen, leading to the displacement of workers and creating a gap in food and medicine supplies, affecting citizens’ livelihoods.

Madani emphasized the need to encourage investment in all sectors and develop a post-war plan. She pointed out that investment in the states, particularly the Northern State, which serves as a hub for economic and developmental projects, requires more attention.