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

Photogallery Oxfam: Ebola Could Be 'Disaster of Our Generation'

Meanwhile, Fidel Castro, the former leader of Cuba, says the Caribbean island nation will 'gladly cooperate' with the US in the fight against Ebola in West Africa More

Multimedia Kobani Fighting Sends 400,000 Refugees to Turkey

Refugees receive help from Turkish authorities and individuals, but say much more is needed More

India’s Ruling Nationalist Party Makes Gains in Regional Elections

Bharatiya Janata Party’s huge margin over its rivals puts it on course to form governments in the northern Haryana and western Maharashtra states 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.
Exclusive: American Joins Kurds' Anti-IS Fighti
X
Zana Omer
October 18, 2014 6:37 PM
The United States and other Western nations have expressed alarm about their citizens joining Islamic State forces in Syria and Iraq. In a rare counterpoint to the phenomenon, an American has taken up arms with the militants' Syrian Kurdish opponents. Elizabeth Arrott has more in this exclusive profile by VOA Kurdish reporter Zana Omer in Ras al Ayn, Syria.
Video

Video Exclusive: American Joins Kurds' Anti-IS Fight

The United States and other Western nations have expressed alarm about their citizens joining Islamic State forces in Syria and Iraq. In a rare counterpoint to the phenomenon, an American has taken up arms with the militants' Syrian Kurdish opponents. Elizabeth Arrott has more in this exclusive profile by VOA Kurdish reporter Zana Omer in Ras al Ayn, Syria.
Video

Video South Korea Confronts Violence Within Military Ranks

Every able-bodied South Korean male between 18 and 35 must serve for 21 to 36 months in the country’s armed forces, depending upon the specific branch. For many, service is a rite of passage to manhood. But there are growing concerns that bullying and violence come along with the tradition. Reporter Jason Strother has more from Seoul.
Video

Video Comanche People Maintain Pride in Their Heritage

The Comanche (Indian nation) once were called the “Lords of the Plains,” with an empire that included half the land area of current day Texas, large parts of Oklahoma, New Mexico, Kansas and Colorado.The fierceness and battle prowess of these warriors on horseback delayed the settlement of most of West Texas for four decades. VOA’s Greg Flakus reports from Lawton, Oklahoma, that while their warrior days are over, the 15,000 members of the Comanche Nation remain a proud people.
Video

Video Turkey Campus Attacks Raise Islamic Radicalization Fears

Concerns are growing in Turkey of Islamic radicalization at some universities, after clashes between supporters of the jihadist group Islamic State (IS) or ISIS, and those opposed to the extremists. Pro-jihadist literature is on sale openly on the streets of Istanbul. Critics accuse the government of turning a blind eye to radicalism at home, while Kurds accuse the president of supporting IS - a charge strongly denied. Henry Ridgwell reports from London.
Video

Video Syrian Defector Leaks Shocking Photos of Torture Victims

Shocking photographs purporting to show Syrian torture victims are on display at the U.S. Holocaust Memorial Museum in Washington. The museum says the graphic images are among thousands of photographs recently smuggled out of Syria by a military policeman-turned-defector. As VOA reporter Julie Taboh reports, the museum says the photos provide further evidence of atrocities committed by the government of Syrian President Bashar al-Assad against its own people.
Video

Video Drought-Stricken California Considers Upgrading Water System

A three-year drought in California is causing a water shortage that is being felt on farms and cities throughout the state. As VOA's Mike O’Sullivan reports, water experts, consumers and farmers say California needs to make changes to cope with an uncertain future.
Video

Video TechShop Puts High-tech Dreams Within Reach

Square, a business app and card reader, makes it possible to do credit card transactions through cell phones. But what made Square possible? VOA’s Adrianna Zhang and Enming Liu have the answer.
Video

Video Church for Atheists Goes Global

Atheists, by definition, do not believe in God. So they should have no need of a church. But two years ago, a pair of British stand-up comedians decided to create one. Sanderson Jones and Pippa Evans told the BBC they envisioned “something like church but without God". Their “Sunday Assembly” movement has grown from a single congregation in London to dozens of churches around the world. Reporter Mike Osborne visited with the members of a Sunday Assembly that now meets regularly in Nashville.
Video

Video Robot Locates Unexploded Underwater Mines

Many educators believe that hands-on experience is the best way to learn. Proving that the method works is a project developed by a group of students at the Stevens Institute of Technology, in Hoboken, New Jersey. They rose up to a challenge posted by the U.S. Department of Defense and successfully designed and built an underwater robot for locating submerged unexploded ordnance. VOA’s George Putic reports.
Video

Video Liberia's JFK Hospital Reopens After Temporary Ebola Exposure

JFK Hospital is Liberia’s largest and one of its oldest medical facilities. The hospital had to close temporarily following the deaths of two leading doctors from Ebola. It is now getting back on its feet, with the maternity ward being the first section to reopen. Benno Muchler has more for VOA News from Monrovia.
Video

Video Hong Kong Protests Expose Generation Gap

Most of the tens of thousands of protesters in Hong Kong are students seeking democracy. Idealistic youths say while the older generation worries about the present, they are fighting for the territory's future. VOA's Daniel Schearf reports from Hong Kong.
Video

Video Liberians Living in US Struggle From Afar as Ebola Ravages Homeland

More than 8,000 Liberians live in New York City, more than in any other city outside of Liberia itself. As VOA’s Bernard Shusman reports, with the Ebola virus ravaging their homeland, there is no peace of mind for these New Yorkers.
Video

Video Kurds See War-Ravaged Kobani As Political, Emotional Heartland

Intense fighting is continuing between Islamic State militants -- also known as ISIS or ISIL -- and Kurdish forces around the Syrian town of Kobani, on the Turkish border. The U.S. said it carried out at least nine airstrikes against Islamic State positions Friday. Meanwhile the U.N. has warned that hundreds of civilians would be massacred if the town falls to the militants. Henry Ridgwell looks at the strategic significance of the city.

All About America

AppleAndroid