Sudan Involves Foreign Investors in Budget Implementation

Sudan Involves Foreign Investors in Budget Implementation
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Sudan Involves Foreign Investors in Budget Implementation

Sudan Involves Foreign Investors in Budget Implementation

The Sudanese government has been negotiating with foreign investors to carry out investments with Sudanese private sector to implement the country's economic goals, which were approved by the parliament in the 2018 budget.

The Sudanese National Assembly, parliament, approved Sunday the 2018 budget bill, which included targets for economic growth of four percent, compared with 4.6 percent last year.

The International Monetary Fund (IMF) expected growth for 2017 to come in at 3.25 percent.

Sudan seeks to increase its exports in 2018 from $3.9 billion to $6.1 billion, as reflected in the quantitative targets of the draft budget.

The country is looking to increase production of essential agricultural products, livestock products, gold and oil.

During his meeting in Khartoum on Thursday with newspaper editors in chief, Sudanese Minister of Investment Mubarak Fadel al-Mahdi talked about the involvement of foreign investors in the country's budget.

Mahdi did not give further details on how foreign investors would participate in implementing the budget targets, but he said they would enter into partnerships and alliances with the Sudanese private sector, which would implement the $6 billion plan and about 80 percent of the state's projects in the new year.

The government has agreed with Turkish investors, during their recent visit to Sudan within the 200-member business delegation, to participate in the contractual agriculture article with farmers, which tops the agricultural economic program in the budget, Mahdi explained.

He announced that the government has a joint vision with the private sector to increase production that will be implemented this year.

It is targeting the amounting of agricultural and livestock exports to 10 billion dollars at the end of the planned three years, Mahdi pointed out.

The Sudanese private sector is partnering with the government to implement a three-year development plan covering various economic sectors.

Chairman of the Federation of Employers Saud al-Barir said the cost of private sector business in the state investment plan was about $450 million.

The private sector will provide external financing and guarantees in case of receiving foreign payments, and it will take care of the costs of the studies.

He expected that Sudan will witness economic stability after the implementation of the plan, which will contribute to reducing the deficit in the trade balance.



UAE, Palestine Sign Agreement to Boost Anti-Money Laundering Efforts, Strengthen Regulatory Systems

Abdullah bin Touq Al Marri, UAE Minister of Economy and Tourism, and Yehya Shunnar, Governor of the Palestine Monetary Authority and Chairman of the Anti-Money Laundering Committee, during a meeting with officials. (WAM)
Abdullah bin Touq Al Marri, UAE Minister of Economy and Tourism, and Yehya Shunnar, Governor of the Palestine Monetary Authority and Chairman of the Anti-Money Laundering Committee, during a meeting with officials. (WAM)
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UAE, Palestine Sign Agreement to Boost Anti-Money Laundering Efforts, Strengthen Regulatory Systems

Abdullah bin Touq Al Marri, UAE Minister of Economy and Tourism, and Yehya Shunnar, Governor of the Palestine Monetary Authority and Chairman of the Anti-Money Laundering Committee, during a meeting with officials. (WAM)
Abdullah bin Touq Al Marri, UAE Minister of Economy and Tourism, and Yehya Shunnar, Governor of the Palestine Monetary Authority and Chairman of the Anti-Money Laundering Committee, during a meeting with officials. (WAM)

The United Arab Emirates and the Palestinian Authority signed on Friday a cooperation agreement aimed at strengthening joint efforts to combat money laundering and enhance economic and regulatory frameworks.

The agreement was reached during a bilateral meeting between Abdullah bin Touq Al Marri, UAE Minister of Economy and Tourism, and Yehya Shunnar, Governor of the Palestine Monetary Authority and Chairman of the National Anti-Money Laundering Committee.

Held at the Ministry of Economy’s headquarters in Dubai, the meeting explored ways to deepen cooperation and exchange expertise in supervisory and regulatory policies. Discussions also covered global trends in financial crime and their impact on the stability of economic systems.

According to the Emirates News Agency (WAM), both sides stressed the importance of aligning with international best practices and launching joint training initiatives to build specialized capacity. The goal is to enhance institutional readiness to address evolving financial crime threats and to reinforce investor confidence and financial integrity.

Al Marri highlighted the UAE’s strides in modernizing its legal and regulatory architecture to meet international anti-money laundering standards.

He pointed to the country’s recent achievements, including its removal from the Financial Action Task Force (FATF) grey list and the European Parliament’s list of high-risk jurisdictions.

The minister reaffirmed the UAE’s commitment to sharing its experience with the Palestinian Authority to help bolster its economic security and advance its financial oversight systems.

The meeting also showcased the UAE’s National Economic Register project, known as “Namo,” which provides a unified, reliable digital database of all commercial licenses across the country.

Officials discussed efforts to standardize procedures for identifying beneficial ownership and to boost oversight of designated non-financial businesses and professions, including real estate brokers, precious metals dealers, accountants, and corporate service providers.

Both parties agreed to continue coordination and knowledge-sharing in this critical sector, emphasizing the importance of building sustainable economic systems and fostering stronger bilateral cooperation in transparency, governance, and financial integration.