By Emelda Siama John
The Undersecretary of the Ministry of Investment Yel Bol Kong has made calls for foreign investors to freely embark on their businesses excommunicating skeptical thoughts over insecurity in the Country promising protection, trading discounts and tax minimization if need be.
He spoke during the launch of BTC Global Company gold refinery being one of the newest gold refinery companies in South Sudan.
He said that government especially the Ministry of Investment has paved doors to foreign investors to operate businesses without much trading restrictions as long as necessary registrations are done for legality.
He commended BTC Global Company for the job well done but remains skeptical with the scope of the gold refinery since it is very close to the people and risks air pollution.
Yel further encouraged BTC Global not only to embark on the mining sector but also think of investing in the areas of agriculture and tourism.
“In our ministry, we encourage investors to come to us so that they can be registered and protected, because there will be a lot of problems that you might face and Ministry of Investment is the one to protect you,” he noted.
He said that BTC Global Company is the first Refinery for Selling raw Gold and Ingots of the Mining investments in the Republic of South Sudan stating that they had high chances to carry their enterprise without threats or risk.
He also stressed that most investors have severally been leaving the country on the account of not being protected instead of reporting matters to the concerned ministry and called on them to be fearless since the authority would stand at their side.
“The duty exemption and consumption on agricultural goods and equipment, taxes exemption and taxes profits for the period to be determined by the ministry of finance and planning, capital allowances after testifying condition ranging from 20 to 100%. Detectible among allowances ranging from 20 to 40% and other money benefit you get from the certificates of investments,” he said.
Yel hinted that BTC leadership and others investors who were investing in the country, should report to the ministry of investments for the certificates so that they will be supported and protected.
The representative of BTC Rahman Mustafa said that they are witnessing BTC globing company, it was the leading industry in Egypt since 1935 they believe that the company will bring impact to the people of South Sudan over the following years.
“We will work together for the bright future of the whole world, and we are looking forward to achieve and agreed upon our milestone with our new family who are here in South Sudan,” he said.
Meanwhile, the Chairperson of the Mining Committee at the National Legislatives Assembly Ramadan Hassan appreciated the company for lifting trade in the Country saying that the parliament will be in support of such initiatives to transform the nation into a better place.
“The Republic of South Sudan is looking forward for such companies in order to boost our economy in South Sudan not the oils only. We need the minerals company to come and work in our minerals to boost our economy,” he said.
Hassan revealed that governments at all levels always give high chances to investors as the only way for generation of revenues for development, management and promotion of the mineral resources.
He ascertains that, the role of the Ministry of Mining is to support companies like BTC whose aim is to really work for the nation.
“Our role in the parliament is to monitor the work of ministries and the ministry should support the local companies, and BTC should be careful of the environments where people live in,” he added.