27 May 2019

Sudan: Economist - Sudanese investment laws are not flawed

Khartoum — The Economic Analyst Prof. Abdullah Al-Ramadi has affirmed that the Sudanese investment laws were not flawed and not need any review.

On the contrary, he added, it could be considered as one of the best laws at the regional level in the encouragement and attraction of investors due to the the testimony of several Arab and foreign investors. Dr. Al-Ramadi said, in statement to SUNA, that Sudan was one of the countries that had reviewed their investment laws and made many amendments for more than thirty years in order to attract national and foreign investors to invest in various fields in the country.

He pointed out that the main reason for the flight of the national and foreign capital from the country to the neighboring countries such as Ethiopia, Uganda and other countries happened due to the interests of the influential officials in the country during the period of the previous rule, in addition to some economic distortions, including high inflation rates, which led to higher prices of agricultural and industrial production inputs as well as the fluctuation of foreign currency exchange rates against the national currency besides the financial and administrative corruption rampant in the joints of the state in that period. Prof. Al-Ramadi expected the upcoming government to address these distortions and deal with them seriousnessly to restore the situations to their normal position. B

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