Investment- a key instrument for economic development
13 December, 2013Khartoum, (Sudanow)- Investment is a basic means for realizing economic development and, for this reason, all countries invariably pay special attention and endeavor to encourage investors and dispel their fears and hesitation for investing their money through the provision of suitable investment atmosphere.
The global incessant and fast transformations and changes in all domains impact all institutions as they are the mainstay of those transformations, something which drive those institutions into searching for continued innovation of the methods and technologies to cope with the challenges.
The first investment forum for the states which was organized by the National Investment Authority in collaboration with the governors of the states in the Friendship Hall earlier December 2013, was aimed at outlining conceptions for investment management and consolidate the mechanisms of coordination between the center and the states, especially as investment has become one of the most important variables in the economic development under the circumstances the country is currently experiencing.
These have caused a saving deficit due to the economic siege and the political complexities that followed the secession of South Sudan, demanding the adoption of practical measures for improving the investment environment.
Former First Vice President Ali Osman Taha, speaking at the forum before tendering his resignation, announced good tidings that the Sudan is heading towards better conditions next year in terms of political, economic and developmental indices, in addition to availability of the political will and awareness by the Sudanese national of the importance of his duty towards the development and his positive role with regard to making available what is required by the investment.
Taha stated that the current Investment Act fulfills the demands and ambitions of national and foreign investors, equally. He called for bringing the provisions of the Act and recommendations of the forum into reality.
Taha noted that the investment philosophy of the State is not only based on sharing the profit of investment between the center and the state ignoring the development and social services. He said all investment projects are subject to gauge of social benefit from those projects, adding: “The social responsibility is an indivisible part of our investment policies.”
He called upon the governors and political bodies for finding an end to the conflicts in Darfur states so as to enable them to get their share of the development and investment projects.
Taha said the absence of coordination among the different levels of the government can be addressed in the deliberations of this forum by emphasizing the mandate accorded to each level as provided for in the laws and the Constitution.
He called on the Governors to exert more effort for improvement of the infrastructure and setting the scene for investment for benefiting from the advantages of the local and foreign investment and resolving the question of the land proprietors, indicating that investment is the backbone of the Sudanese economy.
Taha underlined the importance of fair distribution of investment opportunities to the various states to ensure fair distribution of the country’s resources.
He said the investment map is considered a field report on the lands which are suitable for investment and which are free of legal or administrative impediments, calling upon the governments of the states for settlement of disputes and resolving the problems that hinder investment in their states.
He indicated that there were opportunities for progress in the agricultural investment and achievement of the food security, seizing the chance provided by the Arab initiative for food security. Taha called for making use of the relative privileges the Sudan enjoys in the aspect.
He regarded investment as one form of the capacity by the State and the community of extracting the ground resources for contribution to betterment of the gross national product that would be positively reflected on the standard of living, the public services and on our investment partners.
He stressed the government’s commitment to proving the infrastructures of roads, dams and water in partnership with the private sector through the system of retrieving the capital and interest from the proceeds of the project, loans or grants besides creating an atmosphere that encourages investment.
Taha directed the authorities in the states to prepare investment projects to submission to the Arab Forum which is scheduled to be held in Khartoum mid-January, 2014, within the context of the Sudan Food Security Initiative that was declared by President Omar Al-Bashir during the recent Riyadh summit meeting.
He underscored the need for upgrading the production and productivity and preparing the budgets of the states for 2014, advising the states to submit detailed figures of the budget three years in advance and that the budget should contain revenues and expenditures. Taha stressed that the states should participate in approval of the investment projects, underlining that, according to the law and the Constitution, the lands are national assets but can be exploited by the states.
Taha said the State will not be competitive to the national or foreign private sector but will, instead, encourage that sector for attaining more gains and products. He pointed out that the State would continue creating a suitable environment for investment and would enact the necessary laws and legislations in addition to granting incentives and gratuities. He said the current Investment Act contains a big portion of this privilege which he said is a key tool of the task of the High Council for Investment.
Taha said the State has decided not to be a party to the commercial, agricultural or industrial investment, indicating that this is a set policy of the State.
Concerning the future investment and its priorities, he stressed emphasis should be that new technology and the partnerships in the economic, agricultural, oil or mining be made a condition for bringing in the modern technologies which enhance the country’s capacities and add to the value of its economic resources in addition to providing opportunities for the youths to contribute to the national building.
Taha added that investment projects for which contracts are concluded are not, as some people believe, an attempt to allocate lands of the Sudan for foreign investors, thus distancing the national businessmen and workers from investment activities. He said the policies and priorities of the High Council for Investment will make the partnerships in the investment projects provide opportunities for the nationals to earn their living each in his field of specialization and work capacity in the medium or advanced sector or the purely manual work.
He wished the projects, partnerships, convertible and supplementary industries would be beneficial to the national economy.
Reviewing the major difficulties and obstacles in the course of investment in the states, Investment Minister Mustafa Osman Ismail said those obstacles include problems of allocation of lands, lack of coordination between the center and the states, difficulties of exchanging information, inefficient staff and lack of proper planning.
White Nile State Governor Yusuf Shambali told the forum that there were no problems connected with allocation of lands for investment in his state and that they have reached solutions satisfactory to all parties in the state.
Kassala State Governor Ahmed Yusuf Adam said settlements have been made on investment lands totaling 150,000 feddans (acres).
Indicating that the investment map in the state is ready, Adam stressed that Kassala possesses attractive factors for investment, such as the infrastructure, for tourism industry.
South Kordufan State Governor Adam al-Fakki said his state is rich in natural resources, agricultural lands, gold and animal wealth. He pointed out to the need for linking the state with neighboring countries, especially South Sudan, with the view to push economic development forward.
Al-Gezira State Governor Al-Zubair Beshir Taha called upon the Investment Council to preserve the rights of the citizens in the system of contracting for the big projects of the Arab Food Security and regional and country financing institutions.
North Darfur Governor Yusuf Osman Kibir stressed the need for addressing the country’s standing issues. He said concentration on investment should be made as it adds to job opportunities.
Kibir noted that his state possesses immense resources of minerals, petroleum, agriculture, animal wealth, fertile farming lands and ground water reserves. Moreover, he went on, the state’s geographic location, its agricultural products and security stability qualify it for investment projects.
Kibir believes that investment positively contributes to addressing the grassroots of the Darfur crisis.
Blue Nile State Governor Hussein Yassin Hamad called for revising the investment projects and addressing the poor financial capabilities of the investment companies in the state. He suggested verification of the financial capabilities of the investing institutions prior to granting them the investment licenses, noting that some of them depend on banks for providing funds; something which he said adversely affects the local activities.
Hamad wished such forums would help resolve many problems, underlining the importance of coordination between the center and the states.
West Darfur State Governor Haider Ahmed Adam indicated the importance of strengthening relationship with the Investment Council suggesting organization of periodic visits by the center to the states.
He enumerated the challenges facing the state which he said must be accorded the necessary attention. Adam called for investment in infrastructures in his state.
Khartoum State Governor Dr. Abdul Rahman Al-Khidir indicated that failure of reaching settlements with the land proprietors hinders investment in the state. He called for provision of power supply for the irrigation pumps which now use gasoline so as to cut down the cost of production, and for improving the agricultural methods, adding that his state is planning to introduce the modern irrigation system in the agricultural schemes for expanding the farming lands and rationalizing the use of the irrigation water.
Khidir said opportunities are available for enhancing the agricultural production efficiency for export in addition to investment in the fishing industry. He said the cultivated areas in Khartoum state have expanded to reach 600,000 feddans (acres) compared with 400,000 feddans in 2007, indicating that they have plans and policies for filling the shortages in the agricultural, animal and poultry products and chicken fodder.
The Governor of Khartoum State they are planning to grant licenses for establishing 3,200 closed farms within the state’s 2016 programmes with a view to expanding lands to be cultivated with tomatoes during summer.
He said the lands now under cultivation reach 600,000 feddans out of 3.4 million cultivable lands in the state. He indicated that the state’s five-year plan and economic programme aim at realizing food security increasing production for export for earning foreign exchange , creating new jobs, completing the infrastructural projects and upgrading services.
Former Finance and National Economy Minister Ali Mahmoud Abdul Rasool underscored the need for each of the Central Investment Council and Sudanese Businessmen Union to play a role for making available the necessary information on the investors to verify their capabilities and guarantee their seriousness. He called for removal of obstacles to the investment and urged the governors of the states to observe the laws related to granting licenses for land investment.
East Darfur State Governor,Dr. Abdul Hamid Mussa Kasha, stressed the importance of information and its role in taking correct decisions. He lamented the absence of any role by the embassies for promotion of investment and providing background information about the investors, something which he said led to the appearance of agents in the field of investment.
Kasha called for upgrading the infrastructures in the state and inviting the investors to engage in infrastructural projects in East Darfur. He also urged the center to back up the state’s projects, indicating that the national map for the state is about to be finalized. Kasha said this would contribute to the national economic planning and the central budget. He called for speeding up settlement of the disputes.
The Governor of East Darfur has called for referring the proposed establishment of a national fund for securing lands for the national projects and the investment credit institution to the economic sector of the Council of Ministers for discussion. He stressed the need for benefiting from Khartoum State experience for establishing a unified computer center for all state for coordination between the center and the states.
Adel al-Sennary, an expert in the investment, presented the forum with a digital model of the investment map of Khartoum State. He said the model was prepared in a way that helps identify the State’s geological and industrial and ground water resources, adding that the map could be used in the water reservation and floods control projects.
Sennary emphasized the need to use radar for collecting information of concern to the agricultural sector. With the help of this map, Khartoum State managed to obtain information related to food security and industries, he said, adding that the digital model contains the latest figures, information and data on the capabilities and resources of Khartoum State illustrated by figures, diagrams and tables.
The digital investment map is a comprehensive reference of the texts, maps, lists, data, statistical information and multi-media information. The digital map, which explains the policy of investment, publishes the information in a way that facilitates its access and helps the decision-makers and investors identify the situation visually. The model was lauded by the governors who called for making use of the experience and so did Investment Minister Mustafa Osman Ismail.
END
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