Sudan’s PM vows to take steps to boost Saudi investment

Sudanese PM Abdalla Hamdok met with Saudi businessmen at the Council of Saudi Chambers in Riyadh. (Photo/Supplied)
Updated 08 October 2019

Sudan’s PM vows to take steps to boost Saudi investment

  • Single-window system to be introduced for investors

RIYADH: Sudanese Prime Minister Abdalla Hamdok met with Saudi business owners on Monday at the headquarters of the Council of Saudi Chambers (CSC).
The meeting was attended by Saudi Minister of Environment, Water and Agriculture Abdulrahman Al-Fadhli, Saudi Minister of State for African Affairs Ahmed Qattan, Sudanese Minister of Finance Ibrahim Al-Badawi, Sudanese Minister of Industry and Trade Madani Abbas, CSC Chairman Sami Al-Obaidi, Saudi Ambassador to Sudan Ali Jafar, Sudanese Ambassador to Saudi Arabia Abdul Azim Al-Karouri and executives of major Saudi companies.
Hamdok praised the strategic relations between Saudi Arabia and Sudan. He thanked King Salman and the government for their keenness to ensure that Saudi-Sudanese relations are at the best level and that trade increases.
“We look forward to cooperating with Saudi Arabia in the fields of agriculture, industry, services, infrastructure and energy.”
The prime minister stressed that Saudi investors are ambassadors, and the success of their businesses will reflect a bright image and increase the confidence of international investors in Sudan.
Hamdok announced that a Saudi-Sudanese economic forum will be held to discuss promising investment opportunities and increase cooperation between the two countries.
Al-Fadhli said that the Kingdom and Sudan have capabilities and resources that can provide promising investment opportunities in many economic sectors.
“We are counting on the role of the private sector to maximize the gains and provide solutions to the obstacles that prevent the depletion of goods, services and investments between the two countries so that government agencies can overcome them,” he said.

FASTFACT

• The volume of reciprocal trade stood at about SR4.6 billion ($1.2 billion) in 2018.

• Sudan was Saudi Arabia’s seventh most important Arab trading partner in 2018.

• Saudi investments in Sudan have grown considerably over the past years.

The chairman of the CSC stressed that relations have developed in the fields of trade and investment, pointing out that the volume of reciprocal trade stood at about SR4.6 billion ($1.2 billion) in 2018, making Sudan the Kingdom’s seventh most important Arab trading partner.
Al-Obaidi said: “Saudi investments in Sudan have grown considerably over the past years, with the service sector accounting for the highest proportion of these investments at 49.5 percent, followed by the agricultural sector at 32.5 percent and the industry sector accounting for 28 percent.”
Al-Badawi said the single-window system for investors and the unified federal tax system will be implemented soon to avoid conflicts between Sudan and other nations.
Al-Badawi added that the build-operate-transfer system is the appropriate investment system for Sudan in the field of infrastructure projects.
Abbas said that Saudi investors have greater experience and their proposed solutions to investment obstacles in Sudan are in line with the country’s Emergency Economic Recovery Plan.


US Consulate General in Dhahran celebrates 244 years of independence, 75 years of US-Saudi partnership

Updated 20 February 2020

US Consulate General in Dhahran celebrates 244 years of independence, 75 years of US-Saudi partnership

  • Consul General Rachna Korhonen: I want to say thank you to the amazing people of Sharqiya who remind me every day how warm, wonderful, welcoming, hospitable, and kind Saudis are
  • Although US Independence Day is July 4, the consulate traditionally celebrates the occasion in the spring due to the pleasant weather this time of the year

DHAHRAN: The US Consulate General in Dhahran hosted its 2020 National Day reception on Feb. 19 to celebrate 244 years of American Independence, and the 75th anniversary of the historic meeting between US President Franklin D. Roosevelt and Saudi King Abdul Aziz aboard the USS Quincy.

Consul General Rachna Korhonen and her husband Juha Korhonen welcomed the deputy governor of the Eastern Province, Khalid Al-Battal, and deputy governor of Alkhobar, Abdullah bin Ali Al-Seef, as the guests of honor.

Although US Independence Day is July 4, the consulate traditionally celebrates the occasion in the spring due to the pleasant weather this time of the year.

“Seventy-five years ago, two great leaders met aboard the USS Quincy. President Franklin Roosevelt and King Abdul Aziz met to chart the future of our bilateral ties. This first encounter between a US president and a Saudi King laid the foundation for the broad strategic partnership the US and Saudi Arabia share today. Beyond partnership, President Roosevelt and King Abdul Aziz forged a personal friendship that is at the heart of the strong ties our two countries share today,” said Korhonen.

She added: “As the first woman to be consul general here, it has been an exciting journey for me. I arrived to Dhahran in August 2017, to a country undergoing remarkable changes.  Vision 2030 has opened new possibilities, tourism opportunities are growing, women are driving and attending sporting events. I have said this many times and it is still true: I have the best job in the best place at the best time.

“Most of all, I want to say thank you to the amazing people of Sharqiya (Eastern Province) who remind me every day how warm, wonderful, welcoming, hospitable, and kind Saudis are. I have made friendships that I know are going to last me a lifetime. When I leave here this summer, I will certainly leave a piece of my heart here but I also plan to take a little piece of your heart with me.”