الثلاثاء، 25 مارس 2014

Sudanese Minister of Finance and National Economy announces entry visa exemption for UAE investors during an extended meeting with officials from Abu Dhabi Chamber

His Excellency Khalfan Saeed Al Kaabi, 1st Deputy Chairman of the Abu Dhabi Chamber of Commerce and Industry, emphasized on the interest of national companies in boosting their investments in the Republic of the Sudan.

During an extended meeting with a Sudanese economic delegation chaired by His Excellency Badraldin Mahmoud Abbas Mukhtar, Minister of Finance and National Economy, Al Kaabi said that the Emirati-Sudanese relations witnessed huge development over the past years that Sudan has become one of the most important trade partners to the UAE. He remarked that Sudan occupies an advanced place among the prominent Arab trade partners with the UAE, besides the two sides are bonded with a number of agreements and Memorandum of Understandings including an agreement to establish a free trade zone, double income taxation prevention agreement and an agreement on encouraging and protecting investments.

The meeting witnessed the attendance of His Excellency Ahmed Yousef Mohammed, the Sudanese Ambassador to the UAE; Their Excellency Omair Al Dhaheri, Khalifa Al Qamzi, Ali Sadeq Al Blouchi, Board Members at the Abu Dhabi Chamber; His Excellency Mohammed Helal Al Muhairi, Director General of the Abu Dhabi Chamber; His Excellency Mohammed Al Nuaimi, Assistant Secretary General of the Federation of the UAE Chambers of Commerce and Industry; along with a number of companies operating in the Emirate of Abu Dhabi.
“Sudan has always been among the most preferred investment destinations for Emirati companies considering the available investment opportunities in that market,” Al Kaabi said, pointing out that there are 11 large Emirati companies which have presence in the Sudanese market in addition to Abu Dhabi Development Fund. Among such companies are National Bank of Abu Dhabi, Emirates Telecommunications Corporation (Etisalat), Union Cement Company, Gulf Pharmaceutical Industries, Rotana Hotels, and Dubai Investments to name just a few.

Al Kaabi noted that the Abu Dhabi Chamber works on enhancing the economic and investment cooperation relations between Abu Dhabi companies with their Sudanese counterparts, saying that there are huge investment opportunities in a lot of fields and sectors between the two countries.
“We hope that this visit would achieve positive results that bring benefit for both economies as well as provide complete and comprehensive information for UAE investors about the investment climate and available investment opportunities in Sudan along with information on investment procedures and facilities,” he said, noting that the UAE investments in Sudan increased considerably over the past years and covered many pivotal sectors that would support the comprehensive economic development process in Sudan.

Al Kaabi emphasized on the need for UAE and Sudanese businessmen and investors to play a vital role in launching joint investment projects and benefit from the investment climate and business environment in both countries. He asserted that the private sector is obligated to take the initiative and enhance cooperation relations between peoples and countries through joint ventures.
For his part, His Excellency Badraldin Mahmoud Abbas Mukhtar, Sudanese Minister of Finance and National Economy, announced the exemption of Emirati investors and businessmen from entry permits to the Republic of the Sudan and granting them with long-period stay. He noted that such a step would facilitate UAE businesses and would contribute to the success of their investments.
The Sudanese minister delivered a presentation on the facilities and services his country provides for Emirati businessmen, calling on them to boost their investments in his country, especially in agriculture, mining and infrastructure. He explained that the investment law in Sudan offers tax exemptions for equipment as well as lands with nominal prices to hold projects and investments.
Mahmoud Mukhtar praised the role UAE companies play in the economic development process in his country through establishing projects and improving infrastructure, noting that many Emirati companies and banking institutions hold large investments and have considerable presence in Sudanese markets.

The two sides also discussed holding a UAE-Sudanese joint investment forum to inform businessmen and representatives of the private sector about investment opportunities and facilities which the Sudanese government provides for UAE businessmen and investors.

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