عربي English Türkçe اردو فارسى
Logo
Latest News
Arab World

Saudi-Sudanese Council Forms Committee to Address Saudi Investments in Sudan

A boy stands next to a donkey loaded with jerry cans by the Atbarah river near the village of Dukouli in the Fashaqa al-Sughra agricultural region of Sudan's eastern Gedaref state on March 16, 2021. (AFP / ASHRAF SHAZLY)
A boy stands next to a donkey loaded with jerry cans by the Atbarah river near the village of Dukouli in the Fashaqa al-Sughra agricultural region of Sudan's eastern Gedaref state on March 16, 2021. (AFP / ASHRAF SHAZLY)
TT
TT

Saudi-Sudanese Council Forms Committee to Address Saudi Investments in Sudan

A boy stands next to a donkey loaded with jerry cans by the Atbarah river near the village of Dukouli in the Fashaqa al-Sughra agricultural region of Sudan's eastern Gedaref state on March 16, 2021. (AFP / ASHRAF SHAZLY)
A boy stands next to a donkey loaded with jerry cans by the Atbarah river near the village of Dukouli in the Fashaqa al-Sughra agricultural region of Sudan's eastern Gedaref state on March 16, 2021. (AFP / ASHRAF SHAZLY)

The Saudi-Sudanese Business Council will form a committee to handle the issues of Saudi investments in Sudan.

Saudi investors in Sudan have expressed concerns about the unstable situation in the country.

An atmosphere of optimism prevailed about a promising future for Saudi investments in Sudan, in light of the positive economic and financial data that emerged recently, after the political agreement that reinstated the Prime Minister back to his position.

The Chairman Council, Hussein Bahri, told Asharq Al-Awsat that the Council monitored during the last period several challenges and obstacles facing Saudi investors in Sudan as a result of the current conditions.

The "crisis committee" will hold weekly meetings to address the challenges facing Saudi investments and tackle any complaints.

It called on Saudi investors facing investment problems in Sudan to reach out to the committee.

Bahri stressed the need to protect and secure Saudi investments and solve any issues related to ensure their influential role in supporting the Sudanese economy.

"Saudi investments in Sudan are estimated at more than $4 billion... We are fully confident in the officials' keenness to ensure their operations through the required efficiency and providing its requirements such as fuel, means of transportation, and production requirements," Bahri said.

The Saudi-Sudanese Business Council focused on these issues during recent meetings it held at the Council for Saudi Chambers. Interlocutors discussed the recent developments in Sudan and their potential impacts on Saudi investments, and the options available to deal with the challenges.

The committee is expected to develop a clear strategy to solve the issues facing the investments, with the necessity of activating the Saudi-Sudanese banking mechanisms after Sudan was finally removed from the US list of state sponsors of terrorism.

Saudi investors look forward to correcting the business environment and creating a climate that encourages investment, contributing to solving the economic crisis while offering ideas that attract investment.

Khartoum had earlier confirmed it would look into several lawsuits filed by Saudi investors in Sudan after confiscating their investment lands.

Sudan's minister of investment and international cooperation, Al-Hadi Mohamed Ibrahim, stressed the need to establish a strategic plan to solve the issues of Saudi investment, adding that he looks forward to activating the banking mechanism between the two countries.

Ibrahim estimated that about $35 billion worth of investments were expected to enter the country, but they stopped after the recent political developments.

Most Viewed

 
 
Arab World

After US Exemption, UN Says More Significant Syria Sanctions Work Needed

A general view shows Damascus from Mount Qasioun, after one month since the ousting of Syria's Bashar al-Assad, in Damascus, Syria, January 7, 2025. (Reuters)
A general view shows Damascus from Mount Qasioun, after one month since the ousting of Syria's Bashar al-Assad, in Damascus, Syria, January 7, 2025. (Reuters)
TT
TT

After US Exemption, UN Says More Significant Syria Sanctions Work Needed

A general view shows Damascus from Mount Qasioun, after one month since the ousting of Syria's Bashar al-Assad, in Damascus, Syria, January 7, 2025. (Reuters)
A general view shows Damascus from Mount Qasioun, after one month since the ousting of Syria's Bashar al-Assad, in Damascus, Syria, January 7, 2025. (Reuters)

A US sanctions exemption for transactions with governing institutions in Syria is welcome, but "much more significant work ... will inevitably be necessary," the UN special envoy on Syria, Geir Pedersen, told the Security Council on Wednesday.

After 13 years of civil war, Syria's President Bashar al-Assad was ousted in a lightening offensive by opposition forces led by the Hayat Tahrir al-Sham (HTS) group a month ago.

The US, Britain, the European Union and others imposed tough sanctions on Syria after a crackdown by Assad on pro-democracy protests in 2011 that spiraled into war. But the new reality in Syria has been further complicated by sanctions on HTS - and some leaders - for its days as an al-Qaeda affiliate.

"I welcome the recent issuance of a new temporary General License by the United States government. But much more significant work in fully addressing sanctions and designations will inevitably be necessary," Pedersen told the council.

The US on Monday issued a sanctions exemption, known as a general license, for transactions with governing institutions in Syria for six months in an effort to ease the flow of humanitarian assistance and allow some energy transactions.

"The United States welcomes positive messages from Hayat Tahrir al-Sham, but will ultimately look for progress in actions, not words," deputy US Ambassador to the UN Dorothy Camille Shea told the Security Council.

The foreign ministry in Damascus on Wednesday welcomed the US move and called for a full lifting of restrictions to support Syria's recovery.

French Foreign Minister Jean-Noel Barrot said earlier on Wednesday that European Union sanctions on Syria that obstruct the delivery of humanitarian aid and hinder the country's recovery could be lifted swiftly.

Russia's UN Ambassador Vassily Nebenzia criticized the sanctions imposed on Syria by Washington and others, adding: "As a result, the Syrian economy is under extreme pressure and is not able to cope with the challenges facing the country." Russia was an Assad ally throughout the war.

'END THE SUFFERING'

Formerly known as Nusra Front, HTS was al-Qaeda's official wing in Syria until breaking ties in 2016. Along with unilateral measures, the group has also been on the UN Security Council al-Qaeda and ISIS sanctions list for more than a decade, subjected to a global assets freeze and arms embargo.

There are no UN sanctions on Syria over the civil war.

Syria's UN Ambassador Koussay Aldahhak was appointed a year ago by Assad's government but told the council on Wednesday that he was speaking for the caretaker authorities.

"It is high time to end the suffering, to enable Syrians to live in security and prosperity, to live a dignified life in their country, to build a better future for their country," Aldahhak said.

"For this reason, we call upon the United Nations and its member states to immediately and fully lift the unilateral coercive measures to provide the necessary financing to meet humanitarian needs and recover basic services," he said.

Pedersen said he is seeking to work with the caretaker authorities in Syria "on how the nascent and important ideas and steps so far articulated and initiated could be developed towards a credible and inclusive political transition."

Pedersen said attacks on Syria's sovereignty and territorial integrity must stop, specifically calling out Israel.

As Assad's government crumbled towards the end of last year, Israel launched a series of strikes against Syrian military infrastructure and weapons manufacturing sites to prevent them falling into the hands of enemies.

"Reports of the IDF using live ammunition against civilians, displacement and destruction of civilian infrastructure are also very worrying," Pedersen said. "Such violations, along with Israeli airstrikes in other parts of Syria – reported even last week in Aleppo – could further jeopardize the prospects for an orderly political transition."