Eng. Mohamed El Sewedy, Chairman of the Federation of Industries, Eng. Abdullah Ali Masar, Chairman of the National Umma Party and Chairman of the Commission on Industry, Trade, Investment and Land in the Sudanese National Council, met here today to discuss ways and means of enhancing economic and trade relations and opportunities and prospects for cooperation and investment between the two countries.
The two sides exchanged information on developments in the economic climate in both countries. Al Suwaidi reviewed the economic reform measures and the bold decisions taken by the government as well as the new laws and legislations implemented by the Egyptian parliament such as the new investment law, the licensing and exit law and the investor service centers, , And other measures and facilities that will facilitate investors in all fields, especially in the sectors of industry and agriculture.
Al Suwaidi explained that a Sudanese law has been issued to allow investors to freely use the currency, as well as granting them many advantages such as customs exemptions and exemption from value added tax
He stressed that the facilities include allowing the export of raw materials for re-processing in Egypt, pointing out that there are about 167 million acres in Sudan that can not be exploited, especially wheat. Sudan will return the food basket to the entire continent, especially if added to the huge and distinct livestock available in Sudan.
At the end of the meeting, Abdullah called on the Swede to visit the State of Sudan and promised to provide the Union of Industries with all the new and revised Sudanese laws that would open many fields of cooperation and economic integration, industrial and investment.
Al Suwaidi expressed his great happiness in this fruitful meeting, stressing the ability of the two brotherly countries - because of their enormous potential - to make great strides in achieving sustainable development that will enhance its economy, improve the standard of living of its citizens and achieve social stability.