National, News

Government woos investors amidst dwindling economy

By Bida Elly David


The minister of investment has amidst the dwindling economy, reiterated a call for foreign investors to come to the country, promising them safety.

Stephen Dhieu Mathok made the call over the weekend, during a one-day conference organized by the ministry of wildlife conservation and tourism in Juba.

The minister promised investment tax exemption, duty exemption and capital allowances to interested investors, willing to inject money in any sector of their choice.

“Under the Investment Promotion Act 2009, Amendment Bill 2023, the investment certificate entitles the investor to business advantages and incentives,” he said.

He mentioned that interested investors shall be entitled to a tax exemption on net profits for a period to be determined by the national ministry of finance and planning.

“There will be capital allowances ranging from 20 to 100%, deductible annual allowances ranging from 20 to 40%, and depreciation allowances from 8 to 20%,” he stated.

Minister Dhieu noted that investors, according to the law, are free to repatriate their capital, profits, and dividends out of the country, meaning merchants are free to export their money whenever they need it.

He further noted that there will be no nationalization of foreign businesses by the government against investors promising 100% ownership.

“Investors are free to obtain certificates of registration and letters of no objection from concerned institutions in their intended area of investment with limited charges,” he said.

On entry procedures, Dr. Dhieu stated that investors are free to cross South Sudan with limited restrictions.

“A single-entry visa can be obtained at South Sudan embassies, abroad, or at arrival, along with a yellow card, which is crucial for entry,” he said.

According to the minister, investors are free to tap into the fields of agriculture, mining, infrastructure, ICT, research mapping on natural resources, commercial banking and insurance, pharmaceuticals, chemicals, medical and surgical industries, and petroleum.

“South Sudan has 70% of land suitable for agriculture with less than 2.7% used, a range of climatic zones, and rainfall providing healthy water,” he advertised.

He accounted for many benefits for investors to drive their interest in the business across South Sudan.

“South Sudan is blessed with hydropower, fertile agricultural land, forest, gold, diamond, petroleum, hardwoods, limestone, iron, copper, zinc, tungsten, mica, and silver,” he outlined some of the natural minerals.

Moreover, he stated that the ministry of mining is in charge of all steps of the investment promotion process necessary for interested investors.

For his part, Rizik Zecharia Hassen, the minister of wildlife conservation and tourism, seconded Dhieu’s call, saying it is crucial to restore the country’s economy through valid investment.

He said there are a lot of gaps that South Sudan suffers from due to a shortage of investors, particularly in the tourism industry, adding that through investment, South Sudan will never be young again.

Mr. Rizik urged Minister Dhieu to continue knocking doors for the flow of investors into the country despite the country’s transition from war-affected.

Meanwhile, Onyoti Odigo, the minister of livestock and fisheries, said South Sudan loses a number of fish and animals every year due to climate change and conflict.

He said out of the different types of fish in the Nile, at least five of them die every year due to water pollution and other factors.

He reiterated the need for technocrats to invest efforts towards the protection of livestock and animal resources.

Onyoti added that with potential investors, the three sectors will back up the petroleum sector in terms of revenue generation, thus resulting in the development and improvement of living standards.

Last year, the ministry of investment signed a deal with a foreign company on the promotion of the investment sector.

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