2 November 2017

Sudan: Investments Minister - More Than 18.3 Billion AED Cumulative of UAE Investments in Sudan

Dubai — The Investments Minister, Mubarak al-Fadil al- Mahdi, revealed that the volume of the United Arab Emirates cumulative investments in the Sudan is more than 18.3 AED (5 billion dollars).

On the sideline of the International African Businesses Forum, organized by the Dubai Trade and Industry Chamber, the Investment Minister underlined the continuous development of the Sudan's and the UAE relations especially in last years, which have been reflected in the volume of the trade and investments between the two countries.

He noted that the UAE's private sector has contributed in number of investments projects in the Sudan, including the various economic, industry, agriculture and services domains, asserting that the UAE has become an important trade partner to Sudan, pointing out to the many economic assistances it has provided in the form of grants or loans, the latest of which was the deposit of $ 500 million dollars to the Central Bank of Sudan in support to the Sudan's national economy.

The minister during his participation in the International African Businesses Forum in Dubai, has indicated the existence of number of agreements, economic and trade understanding memos between the two countries which have contributed in the increase of the volume of investments and trade exchange to advanced levels, on top of which is the agreement for the investments protection and the avoiding of the double of taxation, and a memorandum of understanding for the encouragement and protection of the UAE investments in Sudan and elsewhere.

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