Egypt and South Sudan discuss strengthening investment and trade cooperation.
The Minister of Investment and Trade receives his South Sudanese counterpart
Written by: Mohamed Ragab
Dr. Mohamed Farid, Minister Investment Foreign Trade, Joseph Mum Majak, Minister of Investment of the Republic of South Sudan, to discuss ways to enhance economic and investment cooperation between the two countries and explore opportunities Available In sectors of common interest.
During the meeting, which was attended by Kual Nyok Kual, South Sudan’s ambassador to Cairo, developments in the investment climate in Egypt and South Sudan were reviewed, and mechanisms for cooperation in the agriculture, food industries, energy and infrastructure sectors were discussed, in addition to exploring how to benefit from the Egyptian experience in developing investor services and facilitating procedures.
Strengthening economic cooperation with African countries
Dr. Mohamed Farid stressed Egypt’s keenness to enhance economic cooperation with African countries, especially South Sudan, in light of the brotherly relations that unite the two countries, noting the state’s continued efforts to develop the investment environment by simplifying procedures and updating legislation.
The minister explained that the one-stop shop system represents one of the most important tools for improving the investment climate in Egypt, in addition to expanding digital transformation in various stages of the investment process, which contributes to raising the efficiency of services provided to investors.
He added that Egypt welcomes studying investment opportunities in South Sudan, especially in the fields of agricultural manufacturing, juice and concentrate production, and textile manufacturing, stressing the ability of Egypt’s sovereign wealth fund to support joint investments and reduce risks.
Attracting serious investments
He also pointed to the importance of attracting serious investments in priority sectors, while enhancing the role of the private sector in supporting economic development, in addition to Egypt’s support for activating the African Continental Free Trade Area (AfCFTA) agreement.
For his part, the Minister of Investment in South Sudan praised the Egyptian experience in developing the investment environment, especially the one-stop shop system, stressing his country’s desire to benefit from it during the next stage.
He explained that South Sudan has promising investment opportunities in the agriculture, food processing and energy sectors, in addition to outstanding natural resources, noting that there are projects that his country seeks to present to Egyptian investors.
He affirmed the South Sudanese government’s commitment to improving the investment climate, developing legislation and institutional infrastructure, and enhancing cooperation with Egypt in a way that supports achieving sustainable economic development.
