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

    Russian-Backed Offensive in Syria Pushes War to Tipping Point

    As threat to Aleppo and rebel forces grows, US plan to negotiate becomes less and less appealing for Syrian government, says one military analyst

    IS Runs Timber Smuggling Business in Afghanistan, Officials Say

    Government turning blind eye to smuggling, according to tribal leaders; Afghanistan's forest cover dropped by 50 percent in three decades, experts say

    Video White House Seeks $1.8 Billion to Combat Zika

    Obama administration says funding would 'support essential strategies to combat the virus' such as rapidly expanding mosquito control programs, accelerating vaccine research

    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.

    By the Numbers

    Featured Videos

    Your JavaScript is turned off or you have an old version of Adobe's Flash Player. Get the latest Flash player.
    'No Means No' Program Targets Sexual Violence in Kenyai
    X
    February 08, 2016 4:30 PM
    The organizers of an initiative to reduce and stop rape in the informal settlements around Kenya's capital say their program is having marked success. Girls are taking self-defense classes while the boys are learning how to protect the girls and respect them. Lenny Ruvaga reports from Nairobi.
    Video

    Video 'No Means No' Program Targets Sexual Violence in Kenya

    The organizers of an initiative to reduce and stop rape in the informal settlements around Kenya's capital say their program is having marked success. Girls are taking self-defense classes while the boys are learning how to protect the girls and respect them. Lenny Ruvaga reports from Nairobi.
    Video

    Video New Hampshire Voters Are Independent, Mindful of History

    Once every four years, the northeastern state of New Hampshire becomes the center of the U.S. political universe with its first-in-the-nation presidential primary. What's unusual about New Hampshire is how seriously the voters take their role and the responsibility of being among the first to weigh in on the candidates.
    Video

    Video Chocolate Lovers Get a Sweet History Lesson

    Observed in many countries around the world, Valentine’s Day is sometimes celebrated with chocolate festivals. But at a festival near Washington, the visitors experience a bit more than a sugar rush. They go on a sweet journey through history. VOA’s June Soh takes us to the festival.
    Video

    Video 'Smart' Bandages Could Heal Wounds More Quickly

    Simple bandages are usually seen as the first line of attack in healing small to moderate wounds and burns. But scientists say new synthetic materials with embedded microsensors could turn bandages into a much more valuable tool for emergency physicians. VOA’s George Putic reports.
    Video

    Video Bhutanese Refugees in New Hampshire Closely Watching Primary Election

    They fled their country and lived in refugee camps in neighboring Nepal for decades before being resettled in the northeastern U.S. state of New Hampshire -- now the focus of the U.S. presidential contest. VOA correspondent Aru Pande spoke with members of the Bhutanese community, including new American citizens, about the campaign and the strong anti-immigrant rhetoric of some of the candidates.
    Video

    Video Researchers Use 3-D Printer to Produce Transplantable Body Parts

    Human organ transplants have become fairly common around the world in the past few decades. Researchers at various universities are coordinating their efforts to find solutions -- including teams at the University of Pennsylvania and Rice University in Houston that are experimenting with a 3-D printer -- to make blood vessels and other structures for implant. As VOA’s Greg Flakus reports from Houston, they are also using these artificial body parts to seek ways of defeating cancerous tumors.
    Video

    Video Helping the Blind 'See' Great Art

    There are 285 million blind and visually impaired people in the world who are unable to enjoy visual art at a museum. One New York photographer is trying to fix this situation by making tangible copies of the world’s masterpieces. VOA correspondent Victoria Kupchinetsky was there as visually impaired people got a feel for great art. Joy Wagner narrates her report.
    Video

    Video Sanders, Clinton Battle for Young Democratic Vote

    Despite a narrow loss to former Secretary of State Hillary Clinton in last week's Iowa Democratic caucuses, Vermont Senator Bernie Sanders secured more than 80 percent of the vote among those between the ages of 18 and 29. VOA correspondent Aru Pande talks to Democrats in New Hampshire about who they are leaning towards and why in this week's primary.
    Video

    Video German Artists to Memorialize Refugees With Life Jacket Exhibit

    Sold in every kind of shop in some Turkish port towns, life jackets have become a symbol of the refugee crisis that brought a million people to Europe in 2015.  On the shores of Lesbos, Greece, German artists collect discarded life jackets as they prepare an art installation they plan to display in Germany.  For VOA, Hamada Elrasam has this report from Lesbos, Greece.
    Video

    Video E-readers Help Ease Africa's Book Shortage

    Millions of people in Africa can't read, and there's a chronic shortage of books. A non-profit organization called Worldreader is trying to help change all that one e-reader at a time. VOA’s Deborah Block tells us about a girls' school in Nairobi, Kenya where Worldreader is making a difference.
    Video

    Video Genius Lets World Share Its Knowledge

    Inspired by crowdsourcing companies like Wikipedia, Genius allows anyone to edit anything on the web, using its web annotation tool
    Video

    Video In Philippines, Mixed Feelings About Greater US Military Presence

    In the Philippines, some who will be directly affected by a recent Supreme Court decision clearing the way for more United States troop visits are having mixed reactions.  The increased rotations come at a time when the Philippines is trying to build up its military in the face of growing maritime assertiveness from China.  From Bahile, Palawan on the coast of the South China Sea, Simone Orendain has this story.
    Video

    Video Microcephaly's Connection to Zika: Guilty Until Proven Innocent

    The Zika virus rarely causes problems for the people who get it, but it seems to be having a devastating impact on babies whose mothers are infected with Zika. VOA's Carol Pearson has more.
    Video

    Video Stunning Artworks Attract Record Crowds, Thanks to Social Media

    A new exhibit at the oldest art museum in America is shattering attendance records. Thousands of visitors are lining up to see nine giant works of art that have gotten a much-deserved shot of viral marketing. The 150-year-old Smithsonian American Art Museum has never had a response quite like this. VOA's Julie Taboh reports.