Sudanese investments in Ethiopia hit $2.4 bln

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Addis Ababa, 15 July 2014 (WIC) - Sudan is ranked as the second biggest investor in Ethiopia after China with an estimated $2.4 billion in investments, Awad al-Kareem Sa’eed,

President of the Sudanese Investors Society in Addis Ababa announced.

He said obtaining investment permits and licenses is a very smooth procedure, contrary to Sudan.

According to the chairman there are 800 Sudanese businessmen registered at the Ethiopian Ministry of Industry, which is in charge of investments in the country.

He noted that the Ethiopian Parliament is expected to debate a new bill for investment, if approved will raise minimum investment capital from $200 to $3 million. (Sudan Vision Daily)