New Economic Entity Between Sudan and Qatar for Gold Investment
Sudan Events – Reports
The Qatari capital, Doha, witnessed the signing of a memorandum of understanding to launch a new economic entity aimed at stimulating private sector investments between Sudan and Qatar. This initiative seeks to enhance economic integration between Africa and the Gulf states, marking a strategic step toward strengthening economic and investment cooperation between Qatar and Sudan.
The agreement includes provisions for supplying gold as a key financial asset for the project. It was agreed to establish a gold refinery in Doha in partnership with Qatari businessmen. This refinery aims to process Sudanese gold exports and re-export them to global markets, thereby enhancing the stability and sustainability of investment financing.
The signing took place during a meeting between the Qatar Chamber of Commerce and a high-level Sudanese delegation led by Dr. Mohammed Bashar Adam, Sudan’s Undersecretary of the Ministry of Finance and Economic Planning. The meeting was attended by Qatari officials, businessmen from both countries, and representatives from Auj Investment and Development Company, which plays a key role in this agreement.
The agreement involves several prominent entities, including Qatar Investment Authority, Sudanese Free Zones and Markets Company, the Arab-Qatari Investment and Development Company, the Sudanese Federation of Chambers of Commerce, Sudanese investors and businessmen, and Auj Investment and Development Company, which will oversee the implementation and management of the targeted projects.
Auj Investment and Development is a leading company in managing and financing major investment projects. It played a central role in shaping the executive framework of the agreement and will be responsible for developing a digital financial platform, providing financial and technological solutions to support investments in targeted sectors.
Auj will also manage infrastructure projects and investments in food security, technology, and logistics services, working in coordination with Qatari and Sudanese partners to ensure the success of this initiative. The project aims to boost the flow of foreign direct investment through a modern digital financial platform aligned with financial regulations in Sudan and Qatar, enhancing transparency and efficiency in business and investment transactions. The project will focus on investments in technology, food security, industry, logistics, minerals, and trade services.
The agreement also includes the establishment of a digital bank to facilitate investor access to African markets. This bank will offer innovative financial solutions to support small and medium-sized enterprises (SMEs) by providing guarantees and technical and financial support to promote innovation and sustainable growth.
Dr. Mohammed Bashar Adam, Sudan’s Undersecretary of the Ministry of Finance and Economic Planning, stated that the agreement outlines a roadmap for businessmen in both countries and beyond, enabling them to leverage Sudan’s financial and natural resources for the benefit of both the Sudanese and Qatari economies.
Mohammed Al-Obaidli, a board member of the Qatar Chamber of Commerce, highlighted the significance of the project as a transformative step in investment cooperation between Qatar and Sudan. He noted that the new entity will serve as a platform for private sector investments, with the potential for public sector collaboration to drive sustainable economic development.
The agreement is expected to increase investment flows between Sudan and Qatar and open new avenues for economic partnership between businessmen in both countries. Auj’s participation in the project will provide a new investment model based on innovation and digitization, improving investment efficiency in Sudan and supporting economic development efforts.
