Undersecretary of the Sudanese Ministry of Finance and Economic Planning, H E Dr Mohammed Bashar Adam and QC Board Member Mohamed bin Ahmed Al Obaidli with other officials during the meeting.
Doha, Qatar: Qatar Chamber (QC) and a high-level trade delegation from Sudan recently announced the launch of a new African economic entity (AWJ Investment and Development) aimed at strengthening economic integration between Africa and GCC countries.
It aims to boost investments between both sides in key sectors such as technology, food security, industry, logistics, minerals, and services trade.
The entity will be headquartered in Qatar, with offices in Sudan, Saudi Arabia, and Turkey. It will also establish a digital financial platform to promote investments and international trade.
The announcement was made during a meeting hosted by Qatar Chamber with the Sudanese delegation, led by H E Dr Mohammed Bashar Adam, Undersecretary of the Sudanese Ministry of Finance and Economic Planning.
The delegation was received by QC Board Member Mohamed bin Ahmed Al Obaidli, with the presence of Board Members Eng. Ali bin Abdullatif Al Misned and Dr Mohamed Jawhar Al Mohamed.
Also attending the meeting were the Ambassador of Sudan to Qatar, H E Ahmed Abdel Rahman Swar El Dahab, along with several government officials and representatives from Sudanese companies.
The meeting focused on strengthening cooperation between the two countries in trade and economic sectors, and the role of the private sector in fostering economic, trade and investment relations.
During the meeting, a group of major companies signed an agreement to establish a Qatari Sudanese holding company in Qatari free zones.
In his remarks, Dr Mohammed Bashar Adam thanked Qatar Chamber for hosting the meeting and emphasized the importance of leveraging available resources on both sides to strengthen cooperation.
He noted that the Investment Promotion Law was recently amended to benefit foreign investors. Further, he underscored the vital role of economic partnerships in driving infrastructure development in Sudan.
Commenting on the entity, Adam expressed his anticipation of achieving positive results that would benefit investors in both countries.
He noted that the agreement signed outlines a roadmap for businesspeople in both countries, as well as others, to establish an entity that enables them to leverage the resources of both nations—whether financial or natural resources in Sudan—benefiting the economies of both countries.
For his part, Mohamed Al Obaidli praised the distinguished fraternal relations between the two brotherly countries, emphasizing the Chamber’s commitment to strengthening cooperation between the Qatari and Sudanese private sectors, fostering mutual investments, and enhancing the private sector’s role in boosting trade exchange.
He said that the Qatar Chamber is keen to enhance cooperation between the business sectors on both sides and encourage Qatari business owners to invest in Sudan, which has an abundance of natural resources and minerals.
Commenting on the new economic entity, Al Obaidli said that it is an integrated project aimed at fostering mutual private sector investments between Qatar and Sudan, with opportunities for public sector partnerships.
He emphasised that the establishment of a digital bank will simplify the process for investors entering the African continent.
He further pointed out that it will focus on the development of four key sectors: the industrial sector, technology sector, food security sector, and mining sector, all of which will operate under a clearing system.
The entity aims to facilitate the flow of foreign direct investments through a digital financial platform compatible with the financial systems of Sudan and Qatar, which enhances transparency and efficiency in trade and investment transactions.
