By Bida Elly David
South Sudan national minister of Investment, Dhieu Mathok Diing has revealed that about 300 foreign companies are operating in the Country illegally.
The minister made the revelation at the national assembly while responding to legislators’ questions on business investments in the country amid the ailing economy.
Lawmakers on Tuesday questioned why there are more foreign investors while nationals have not been empowered to take up investment opportunities in the country.
“I have to be clear and frank as a leader and if required I can submit,” he said, adding that “as I am talking to you now, I have almost 300 foreign companies which are not registered.”
According to the minister, the illegal foreign companies are resisting registration on claims of being instructed by South Sudanese.
Minister Mathok revealed that the unregistered foreign companies in his list have been in existence since 2002, through permission by some officials within the public sector.
“I am not accusing people, but it is the reality and if you want the list of companies which refuse to register since 2002, I will bring them,” he said.
In nutshell, the unregistered business entities deprive the government coffers of millions of pounds in revenues defaulting.
Minister Mathok also exculpated himself on blames of giving business priorities to foreign investors.
Mr. Mathok further faulted other public institutions of encroachment into the activities of minister of Investment docket, hampering his role as the head of the institution.
“The ministry has not objected giving priorities to nationals, rather lack of financial resources and policies to support such initiatives are stumbling blocks to the operationalization of their activities,” he stressed.
The Minister admitted the fact that foreigners have highly taken lead in South Sudan investment sector with other few South Sudanese who partake in the business.
Mathok, however, said the ministry, jointly with other institutions is working towards giving full priorities to relief the investment sector from foreign monopoly.
On the issue of offering loans to nationals, Dhieu said that his ministry does not have any mandate of granting funding.
He said financial institutions such as the Central Bank and ministry of finance is responsible for giving grants for establishment of businesses.
Mathok reiterated that most projects executed by the ministry of investment came into rise through funding from donors but not the money from the national treasury as believed by citizens.
The minister alluded that his docket is constricted financially.
“Budget of the ministry is the least among all the institutions. I don’t know how people want us to do all these responsibilities without having money!” he lamented.
Mathok added that the government has not prioritized funding for his docket to run its activities as other line ministries.
He expressed optimism that South Sudanese will enjoy the fruits of their labor through investment projects.
“There is no government funding for the ministry of investment, but I cannot sit idle with complaints that I have not been given money rather I will have to work,” he argued.