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Sudan Plans to Create 250,000 Jobs, Increase Oil Production

A general view shows Sudanese people and traffic along a street in Khartoum, Sudan. File photo: Reuters
A general view shows Sudanese people and traffic along a street in Khartoum, Sudan. File photo: Reuters
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Sudan Plans to Create 250,000 Jobs, Increase Oil Production

A general view shows Sudanese people and traffic along a street in Khartoum, Sudan. File photo: Reuters
A general view shows Sudanese people and traffic along a street in Khartoum, Sudan. File photo: Reuters

Sudan aims to improve its economic sector to increase investment opportunities in the private sector, especially after the US said it will lift Khartoum from its list of state sponsors of terrorism.

The Ministry of Finance and Economic Planning announced plans to create about 250,000 jobs for young people as part of the national transitional strategy.

The Ministry will also establish a unit for entrepreneurship at the General Authority for Investment and Private Sector Development, and a fund for youth financing to contribute to providing opportunities for Sudanese people.

Finance Minister Heba Mohammad Ali met with Sheikh Ebrahim bin Khalifa Al Khalifa, Chairman of the Board of Trustees of UNIDO’s Arab International Regional Center for Entrepreneurship and Investment, and a number of relevant authorities.

Mohammad Ali said that the Ministry wants to benefit from UNIDO’s expertise and capabilities in entrepreneurship.

Sheikh Ebrahim affirmed the organization's readiness to provide technical and financial expertise to Sudan. The two sides agreed to set a deadline for submitting their plans on establishing the entrepreneurial unit.

Meanwhile, Sudan will add 3,000 barrels a day of oil production from a new oilfield, which will boost the country’s output to 64,000 bpd, Aiman Aboujoukh, the general manager of state oil firm Sudapet, announced.

Sudan has been trying to lift oil production to lower costly fuel imports after losing 73 percent of oil output when South Sudan seceded in 2011, according to Reuters.

Aboujoukh indicated that al-Rawat oilfield in White Nile state will go online within two weeks with seven wells, hoping to add an extra 20,000 bpd next year if the finance ministry approved funds for exploration.

He said authorities hoped that Western firms would invest in, after the US confirmed it would lift Khartoum from its list of state sponsors of terrorism, which blocked international funding and debt relief.

Last week, Sudan doubled local fuel prices with immediate effect to tackle the budget deficit.

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Sultan of Oman Stresses Private Sector’s Role, Alongside Government, in Employing Citizens

Sultan Haitham bin Tariq met on Monday at Al-Baraka Palace with business leaders, owners of SMEs, and startup representatives. (ONA)
Sultan Haitham bin Tariq met on Monday at Al-Baraka Palace with business leaders, owners of SMEs, and startup representatives. (ONA)
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Sultan of Oman Stresses Private Sector’s Role, Alongside Government, in Employing Citizens

Sultan Haitham bin Tariq met on Monday at Al-Baraka Palace with business leaders, owners of SMEs, and startup representatives. (ONA)
Sultan Haitham bin Tariq met on Monday at Al-Baraka Palace with business leaders, owners of SMEs, and startup representatives. (ONA)

Sultan Haitham bin Tariq of Oman emphasized the role of the private sector in creating job opportunities for Omanis, urging businesses to make use of the economic incentives provided by the government to support local employment.
During a meeting on Monday at Al-Baraka Palace with business leaders, owners of small and medium enterprises, and startup representatives, Sultan Haitham affirmed that addressing unemployment is the top priority for the government.
He underscored the private sector’s responsibility to join efforts with the government in providing employment, training, and development for citizens by leveraging government incentives, programs, and initiatives aimed at supporting the private sector.
Discussing the banking sector, he highlighted its importance as a “cornerstone of modern economies and a key player in economic growth and shaping the business environment.”
The Sultan also pointed to the adoption of the national policy on local content, which aims to enhance the competitiveness and growth of the national economy. He stressed the importance of the private sector’s role in advancing this policy by localizing industries, prioritizing local products in purchasing and tenders, thereby creating job opportunities for Omanis, reducing import dependence, boosting exports, and increasing the GDP.
Sultan Haitham reviewed Oman’s financial and economic performance, noting the positive outcomes achieved through effective government-private sector partnerships. These partnerships have contributed to GDP growth and the continued improvement of Oman’s credit rating, which in turn enhances business and investor confidence, creating an attractive investment climate that supports the growth of various economic sectors.
He also called for strengthened partnerships between the government and private sector to ensure a favorable environment for investment and local economic development.
Sultan Haitham commended the efforts of the Financial and Economic Committee in the Council of Ministers, the Ministry of Commerce, Industry and Investment Promotion, and the Authority for Small and Medium Enterprises Development.
In coordination with the Oman Chamber of Commerce and Industry, these entities hold regular meetings with business leaders and investors to continuously address the challenges facing the private sector, particularly small and medium enterprises, and work towards viable solutions.