South Sudan says peace deal boost investor confidence amid improved security

Source: Xinhua| 2019-07-26 22:37:10|Editor: ZX
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JUBA, July 26 (Xinhua) -- South Sudan's investment climate has recently improved thanks to normalcy linked to the ongoing implementation of the revitalized peace deal by the warring parties, a senior official said on Friday.

Abraham Maliet Mamer, secretary general for South Sudan Investment Authority, said the business environment has improved due to implementation of the revitalized peace deal.

"The (business) climate has jumped. I can claim that the investment climate and investor confidence has been boosted up to 70 percent, the reason that has made it jump security," Maliet told journalists in Juba.

He said the country was eager to reap the benefits from the various overseas trade exhibition and shows it conducted in several investment capitals around the world like the investment roadshow in Washington D.C, New York, Dubai and South Africa.

"They (investors) are now asking about if I invest in South Sudan what are the guarantees on my return, what packages, incentives do I get," said Maliet.

These questions were not asked before they were asking how the situation of security there was but now they have moved on from the security question to guarantee of their investment for me it is a milestone," he added.

Maliet disclosed that several South Sudanese are also returning to invest in the country which has had positive impact on the market, hence raising the purchasing power crucial for attracting foreign capital.

"Positive messages from the president have also boosted investor confidence. So from my perspective I think you invest so as to bring peace and it is important for South Sudanese and investors, government to understand that it is investments that bring peace," said Maliet.

"We need to encourage South Sudanese who have got money to invest here for peace to come don't wait for peace to come because if you invest now you will be able to address the issues that allowed young men and women to go and take up guns against the government because they could not get jobs," he added.

He said the government plans to hold investment conference to sustain the business momentum in the country prior to forming of the transitional unity government in November.

South Africa has raised over 1 billion U.S. dollars to invest in South Sudan and Africa's telecom giant MTN has already injected additional over 30 million dollars in its South Sudan operations.

"We have got a lot of people from Dubai many of them have come now they are raising their interest to come and invest. Egypt has raised a very high interest to come and invest in South Sudan and in September we are going to do a symposium specifically for South Sudan, it is going to be done by the Egyptian business association," said Maliet.

He disclosed that Egyptian businesses are interested in investing in aquaculture while the Emiratis are eyeing investing in growing of fresh vegetables for export which will create employment and boost technology transfer.