South Sudan says working to create attractive environment for foreign investors

Source: Xinhua| 2018-11-09 21:49:54|Editor: xuxin
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JUBA, Nov. 9 (Xinhua) -- South Sudan on Friday said it was working on creating an attractive investment climate to lure foreign investors as the country seeks to reinvigorate its economy that has been battered from over four years of conflict.

Abraham Maliet Mamer, secretary general for South Sudan Investment Authority, told journalists that the country is open and ready for big foreign investments to revive its economy.

"As far as the big picture is concerned, our country is ready to receive investors. Our country has been closed for so long and now is the time to speak loud and clear that our country is ready for investment," he said in Juba.

Mamer said international businesses are welcome to come and invest in South Sudan. He said they are looking toward integrating e-business and e-investment platforms to ease the cost of doing business.

The country relies on oil production to finance 98 percent of its fiscal expenditure and recently hinted at boosting oil production levels following disruption by violence which saw production drop to below 165,000 barrels per day (bpd) from 350,000 bpd in 2012.

South Sudan is set to host its second oil and gas investment conference on Nov. 21-22 in Juba. The first one took place in October last year.