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18:48, 22 March 2018 Thursday
Update: 14:17, 04 March 2018 Sunday

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Sudan needs $500B investment
Sudan needs $500B investment

Turkish companies aim to back economic progress in Sudan where major drawback is inadequate production technology

World Bulletin / News Desk

Sudan needs an investment of nearly $500 billion in various sectors, acting president of a Turkish business association said.

Harun Macit, who represents A New World Industrialist and Businessmen's Association (YENIAD), said the major drawback in Sudan is its inadequate production technology.

He added that Sudan is among the top three African countries having gold and copper mines, and Turkish businesspeople can play an important role in the country’s mining industry.

“Due to the lack of proper mining technology they [Sudanese people] have limitations. Below the surface, a large amount of precious metals are waiting to be explored,” he said.

Macit urged Turkish businesspeople to establish a system to process those metals and integrate them with Turkey’s gold exchange market to provide overseas finance for Sudan.

He said five consortiums were set with Sudanese and Turkish businesspeople in the fields of construction, energy, mining, agriculture and machinery during a business trip organized by YENIAD in February.

"Preliminary agreements worth $1.2 billion were signed between Turkish businesspeople and Sudanese ministry officials along with private sector representatives during the visit," Macit said.

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