News / Africa

South Sudan Introduces Programs to Attract Investors

Salva Kiir, President of Southern Sudan and other senior members of his administration (file photo0Salva Kiir, President of Southern Sudan and other senior members of his administration (file photo0
x
Salva Kiir, President of Southern Sudan and other senior members of his administration (file photo0
Salva Kiir, President of Southern Sudan and other senior members of his administration (file photo0
Peter Clottey

This is Part Six of a six-part series on African Investment
Continue to Parts:     1 / 2 / 3 / 4 / 5

South Sudan’s Minister of Commerce, Industry and Investment says Africa’s newest nation is implementing policies to overcome its economic challenges.

Garang Diing Akuong said that includes measures to create an enabling environment for foreign investment.

 “As at now we are attracting investors, but it’s not enough to [satisfy] our ambitions. We hope to have more,” he said. “We are supposed to put a couple of things in place to enable South Sudanese to invest and also to attract others to invest in South Sudan.”

Akuong expressed disappointment in conflict which he said destabilizes East Africa and discourages foreign direct investment.

 “We are doing our best to stabilize South Sudan’s [domestically] ….so that people will go about their business in the normal circumstances. The pre-condition for investment is peace and … stability,” he said.

“We are also trying to build peaceful co-existence with our neighbor [the Republic of Sudan] that we left. Currently, we are having difficulty relating to Sudan due to our differences on oil and border demarcation. These are pending issues, and they are creating a lot of instability in the region.”

Akuong called on the East African Community, the Intergovernmental Authority on Development (IGAD) and the African Union to help broker a peace deal between Juba and Khartoum.

“We hope that [they] will come and aide the two of us so that we reach an amicable solution. Trade is very important element in this co-existence because trade binds more than the other policies in place,” he said.

Akuong made his comments at a recent three-day meeting of the New York Forum Africa held in the Gabonese capital, Libreville. The group brings together international investors and African business leaders on the continent in an effort to foster partnerships.

Akuong said since independence the government has launched initiatives to strengthen its diplomatic relations within the region.

“We are doing a lot to reconcile with neighboring countries, especially the Sudan. Because instability within the country and with neighbors can negatively affect investment,” said Akuong.

“We are also trying to organize the various sectors in the country so that we know what it takes for [each sector] to take off. For instance, we are looking into power generation. We have a huge power deficit. We have about 10-20 megawatts in the entire country, a country that has oil. This is unacceptable.”

Akuong said the government wants to attract investment in the energy sector, which he said is a priority and pre-requisite for investors.  He said the government is also planning a massive infrastructural development program including road networks “for easy import and export.”

He said the government is enacting laws to serve as an incentive for the private sector.

 “We are working to encourage private banking. As of now, we have about nine banks in South Sudan and more than half of them are private international banks from Uganda, Kenya and Ethiopia.”  He says it’s important because a healthy banking system is essential for financing development.

Akuong expressed confidence that South Sudan’s government policies will transform the country into one of the economic “tigers” of Africa.
Clottey interview with South Sudan Minister Garang Diing Akuong
Clottey interview with South Sudan Minister Garang Diing Akuong i
|| 0:00:00
...    
🔇
X

You May Like

How to Safeguard Your Mobile Privacy

As the digital world becomes more mobile, so too do concerns about eroding privacy and increased hacking More

'Desert Dancer' Chronicles Iranian Underground Dance Troupe

Film by Richard Raymond is based on true story of Afshin Ghaffarian and his friends More

Obesity Poses Complex Problem

Professor warns of obesity’s worldwide health impact More

This forum has been closed.
Comment Sorting
Comments
     
by: Ater Ngeny Ater from: Juba, RSS
June 28, 2012 8:28 AM
Wake Up Call To Investors!
The Gold Rush In The South Sudan??
The California Gold Rush Start In 1848, The Dot Com Boom Started In 1996, In 2011 The Republic Of South Sudan Opportunities For Investments Is UNDERWAY - - - - - - - - All Investors Don't Miss Out On This One! [A billions of USA Dollars will be in the market by 2015] "ATER Ngeny Ater's Research in the Republic of South Sudan in 2011"

by: muheyo from: western equatoria
June 26, 2012 11:56 AM
We need peace and prosperity to develop our new born nation not shacking blood of our herose who paid the rest of south sudansess during this long period of war.we donnot need to fight again.

Featured Videos

Your JavaScript is turned off or you have an old version of Adobe's Flash Player. Get the latest Flash player.
Rolling Thunder Run Reveals Changed Attitudes Towards Vietnam Wari
X
Katherine Gypson
May 25, 2015 1:32 AM
For many US war veterans, the Memorial Day holiday is an opportunity to look back at a divisive conflict in the nation’s history and to remember those who did not make it home.
Video

Video Rolling Thunder Run Reveals Changed Attitudes Towards Vietnam War

For many US war veterans, the Memorial Day holiday is an opportunity to look back at a divisive conflict in the nation’s history and to remember those who did not make it home.
Video

Video Female American Soldiers: Healing Through Filmmaking

According to the United States Defense Department, there are more than 200-thousand women serving in the U.S. Armed Forces.  Like their male counterparts, females have experiences that can be very traumatic.  VOA's Bernard Shusman tells us about a program that is helping some American women in the military heal through filmmaking.
Video

Video Iowa Family's Sacrifice Shaped US Military Service for Generations

Few places in America have experienced war like Waterloo. This small town in the Midwest state of Iowa became famous during World War II not for what it accomplished, but what it lost. As VOA’s Kane Farabaugh reports, the legacy of one family’s sacrifice is still a reminder today of the real cost of war for all families on the homefront.
Video

Video On Film: How Dance Defies Iran's Political Oppression

'Desert Dancer' by filmmaker Richard Raymond is based on the true story of a group of young Iranians, who form an underground dance troupe in the Islamic Republic of Iran. This is the latest in a genre of films that focus on dance as a form of freedom of expression against political oppression and social injustice. VOA’s Penelope Poulou has more.
Video

Video Turkey's Ruling Party Trying to Lure Voters in Opposition Stronghold

Turkey’s AK (Justice and Development) Party is seeking a fourth successive general election victory, with the goal of securing two-thirds of the seats in Parliament to rewrite the constitution and change the country's parliamentary system into a presidential one. To achieve that, the party will need to win seats in opposition strongholds like the western city of Izmir. Dorian Jones reports.
Video

Video Millions Flock to Ethiopia Polls

Millions of Ethiopians cast their votes Sunday in the first national election since the 2012 death of longtime leader Meles Zenawi. Mr. Meles' party, the Ethiopian People's Revolutionary Democratic Front, is almost certain of victory again. VOA's Anita Powell reports from Addis Ababa.
Video

Video Scientists Testing Space Propulsion by Light

Can the sun - the heart of our solar system - power a spacecraft to the edge of our solar system? The answer may come from a just-launched small satellite designed to test the efficiency of solar sail propulsion. Once deployed, its large sail will catch the so-called solar wind and slowly reach what scientists hope to be substantial speed. VOA’s George Putic reports.
Video

Video FIFA Trains Somali Referees

As stability returns to the once lawless nation of Somalia, the world football governing body, FIFA, is helping to rebuild the country’s sport sector by training referees as well as its young footballers. Abdulaziz Billow has more from Mogadishu.
Video

Video With US Child Obesity Rates on the Rise, Program Promotes Health Eating

In its fifth year, FoodCorps puts more than 180 young Americans into 500 schools across the United States, where they focus on teaching students about nutrition, engaging them with hands-on activities, and improving their access to healthy foods whether in the cafeteria or the greater community. Aru Pande has more.
Video

Video Virginia Neighborhood Draws People to Nostalgic Main Street

In the U.S., people used to grow up in small towns with a main street lined by family-owned shops and restaurants. Today, however, many main streets are worn down and empty because shoppers have been lured away by shopping malls. But in the Del Ray neighborhood of Alexandria, Virginia, main street is thriving. VOA’s Deborah Block reports it has a nostalgic feel with its small restaurants and unique stores.

VOA Blogs