By Bida Elly David
An economic expert has urged government stakeholders in South Sudan to prioritize the investment sector for financial mobilization and economic stability.
Speaking during an Aid Policy stakeholder’s validation Workshop organized by the Ministry of Finance in Juba on Monday, Dr. Peter Middlebrook cited the country’s economic decline as a result of improper translation of investment ideas into affirmative actions.
“Smart investment decisions will really be very important, don’t always think on government’s money, think about the real money tried in capital and market,” he said.
The economic consultant urged government stakeholders to utilize the government’s funds to effectively leverage investment resources in the country.
Dr. Peter emphasized that investment money can boost development, infrastructure, economy, and public sector services, but warned stakeholders against focusing on government money and encouraging them to generate income.
“Policies will enable you stakeholders to question yourselves,” he jagged out
He stressed the need for attractive policies to attract foreign investors and cautioned against relying solely on humanitarian and development aid.
He mentioned that some partners have long-term sustainable development goals (SDGs) that may not align with the government’s urgent demands.
“International Monetary Fund has looked at South Sudan and said their SDGs on education, health, infrastructure, and energy will not be reached now but until 2065,” he added.
Dr. Peter stated that the success of the country’s economy is contingent on the level of commitment people have towards investment through security.
The US Department of State reported in 2022 that South Sudan’s investment sector was facing challenges due to a lack of skilled and unskilled labor and limited physical infrastructure.
According to the report, humanitarian and development aid is a major source of employment for most South Sudanese population.
It states that the legal framework governing investment and private enterprises remains underdeveloped.
The report further echoed that government entities do not enforce laws equitably or consistently.