Islamic Development Bank stresses continuation in providing funds for Sudan development projects
October 16, 2017 - Washington - The Islamic Development Bank Group has affirmed its continuity in support to Sudan and provision of funding for Sudan development projects.
This came during the meeting of the Minister of Finance and Economic Planning, the Governor of the Central Bank of Sudan and the accompanying delegation with the President of the Islamic Development Bank Group.
The delegation also met with the Director General of the Arab Fund for Development, who expressed the bank's readiness to intensify efforts to support and strengthen the Sudan economy.
The Finance Minister and the accompanying delegation also reviewed with the British World Bank's Executive Director his country's role in leading efforts to relief debt on Sudan.
Finance Minister meets in Washington with Assistant US Treasury Secretary
October 16, 2017 - Washington, The Minister of Finance and Economic Planning Dr. Mohamed Othman Al-Rikabi and the Sudan delegation participating in the meetings of the Bretton Woods institutions in Washington met with the Assistant Secretary of the Treasury and Executive Director of the United States of America in the International Monetary Fund (IMF).
The meeting was the first of its kind between senior officials from the US and Sudanese sides after the lifting of economic and trade sanctions. The meeting witnessed an optimism spirit for a better future for the relationship between the two countries. The two sides also affirmed continuation of cooperation according to the roadmap and the direct contact between the two sides.
The Minister of Finance also held a briefing meeting with the American Investment Group and a number of American businessmen. The meeting was attended by representatives of the Sudanese Employers Union.
State Minister for Industry announces holding of forum for the operation of suspended factories
October 16, 2017 - The State Minister at the Ministry of Industry Dr. Abdo Dawood Suleiman has announced holding of a forum for operating the factories suspended due to the lack of fund on October 25 at the Federation of Chambers of Industry to be organized by the Ministry of Industry in cooperation with the Khartoum Stock Exchange, the Union of Sudanese Banks and the Federation of Chambers of Industry.
Dr. Suleiman said that the forum would an extension of his ministry's efforts to resume operating of the suspended factories, adding that forum the forum at connecting the factories with the internal and external finance institutions for finding financing opportunities or creating partnerships to restore life to these factories, referring to the role of the Khartoum Stock Exchange in this respect as well as developing joint vision for sustainable operating. He explained that the aim of the forum was to operate the suspended factories in the food industries sector such as mills and oil presses as well as the engineering and chemical industries and leather products.
Dr. Suleiman said: "The forum will be attended by industrialists from all the states of Sudan and the owners of factories suspended due to funding and is expected to come up with recommendations and guidance that contribute to reoperation of the nonperformed plants and return them to the production circle.
Ministry of Intl Cooperation, Arab League reviews success of Arab Conference for Sudan Development
October 16, 2017 - The Minister of International Cooperation Idriss Suleiman met at his Office Sunday with the Assistant Secretary-General for Economic Affairs of the League of Arab States Dr. Kamal Hassan Ali, in the presence of the State Minister at the Ministry of International Cooperation Hussein Al-Hindi.
The meeting discussed the current arrangements for the Arab Conference for the reconstruction and development of Sudan, which is to be held in the Kingdom of Saudi Arabia capital, Riyadh during the coming period. The Minister of International Cooperation briefed Ambassador Ali on the development, economic and social projects which have been completed to date, including more than 400 out of the total of 1,000 projects, stressing the importance of the tight follow-up and coordination between Sudan, the Arab League and the Kingdom of Saudi Arabia, the host country, in early time for the success of the conference.
For his part, the Assistant Secretary-General for Economic Affairs of the League of Arab States praised the efforts exerted by the Government of the Sudan in the preparation of strategic development projects that help donors and supporters from Arab countries and friends of Sudan to provide assistance and support before the holding of the conference.
Ambassador Ali stressed that the Arab League gave great importance to the success of the Arab Conference for Rehabilitation and Development of Sudan, especially after the lifting of the economic sanctions on Sudan and the great openness of Sudan's relations with other countries.
First Vice President to address Arab Forum for Standardization and Consumer Protection Monday
October 16, 2017 - First Vice President of the Republic and National Prime Minister Bakri Hassan Salih is due to address the inaugural sitting of the activities of the two-day Arab Forum for Standardization and Consumer Protection at Al-Salam Rotana Hotel, which is to be attended by 75 Arab and international experts including standardization and consumer protection specialists, constitutional and executive leaderships and civil society organizations.
The opening session will also be addressed by the Assistant Secretary General of the League of Arab States Dr. Kamal Hassan Ali, the Minister of the Council of Minister Ahmed Saad Omer, the Director General of the Arab Organization for Industrial Development and Mining Eng. Adel Al-Saqer, the Representative of the International Consumers' Organization Mr. Justin McMullen, the Chairman of the Arab Consumer Protection Group Maj. Atif Yagoub and the Director General of the Sudanese Organization for Standardization and Metrology Dr. Awad Mohamed Sakrap .
The forum is expected to discuss 22 working papers dealing with a number of important issues in the field of standardization, specifications, quality and consumer protection.
Arab and European Banks to Send Delegations to Khartoum to Resume Banking with Sudan
October 16, 2017 - Head of the Sudanese Banks Union, Masaad Mohamed Ahmed has revealed that a number of Sudanese banks have started contact with a number of banks to
reactivate correspondents abroad.
Ahmed said that a number of representatives of Arab and European banks would send delegations to Sudan to re-deal banking with the Sudanese banks, expecting the arrival of these delegations this week, while others will arrive next week.
Masaad told Sudan Vision that the reactivation of correspondents and the arrival of representatives of influential Arab and European banks will contribute significantly to the stability of the exchange rate and availability of currency and availability of resources and ease of movement and transfers and operations of exports and imports, stressing that the lifting of the ban on Sudanese companies and banks from the US Office of Foreign Assets Control (OFAC) sends a clear message and the beginning of the actual implementation of the decision of embargo lifting and will have a positive impact on banking transactions with Sudan through which dealing will be normal contrary to what was happening during the siege, adding that the OFAC decision gives greater confidence to foreign banks in reactivating correspondents and the beginning of the actual banking dealings with various government institutions and bodies and be more confident in dealing with Sudan.
Al-Birair: Lifting of US Sanctions is Base for Launching of the Sudanese Economy
October 16, 2017 - Head of Industrial Chambers. Union, Muawiya A-Birair affirmed that the lifting of the US embargo will be the basis for the Sudanese economy to launch, expressing
his optimism over the decision to double production and productivity.
Al-Birair said, in an interview with Sudan Vision, that the decision will make a breakthrough in the economy, pointing out that the Sudanese private sector is a strong sector and has strong experience, calling for the need to break the internal embargo on the private sector and stand with producer by taking clear measures, adding that the current laws are considered one of the best laws in the world, but it needs political will, stressing that the US decision was issued with the beginning of a successful agricultural season, which will have a direct impact and contribution to the provision of foreign exchange, saying that Muawiya Al-Birair Group has farms in huge areas of more than 100 thousand acres in the Northern, Khartoum, Sennar and Gezira states and all are successful with high productivity in the field Wheat, beans, cotton, sesame, clover and various agricultural composition.
International Telecommunication Union Honors Sudatel Group as Part of Activities of World Telecommunication Development Conference in Argentina
October 16, 2017 - The World Telecommunication Development Conference, currently being organized by the International Telecommunication Union (ITU) in Buenos Aires,
Argentina, has honored at the outset of its activities Sudatel Group.
The occasion has received wide participation from pioneers of the telecommunication sector in the world, Argentine Minister of Modernization, ITU’s Secretary General, Director of Telecommunication Development Sector at the ITU, State Minister at the Sudanese Ministry of Telecommunication Ibrahim Al Mirghani, Chief Executive Officer of Sudatel Telecommunication Group Engineer Tariq Hamza Zain El Abdein and Director General of Sudatel Telecommunication Academy (Sudacad) Dr. Ahmed Hassan.
Addressing the inauguration ceremony of the conference, ITU’s Secretary General affirmed that telecommunications are considered as main means for bringing the world’s peoples closer together, expressing pleasure for Argentina’s hosting of the important event of the pioneers of the telecommunication sector in the world.
He affirmed the important role Sudatel Telecommunication Group assumes in supporting fields of social responsibility in the African continent that contribute to improving the living conditions of the people, which is one of the goals of sustainable development adopted by the United Nations.
The Chief Executive Officer of Sudatel Group Engineer Tariq Hamza Zain El Abdein, on his part, affirmed that honoring of Sudacad Academy, a subsidiary of Sudatel, is considered as great honor for a national institution that has continued to make great contributions to its people and subscribers all over the African continent.
Engineer Zain El Abdein affirmed that presenting a prize and a certificate of appreciation to Sudatel Group represents recognition by the ITU of the pioneering role of the group in supporting the various activities of the union as well as for sponsoring the conference.
The ITU has selected Sudacad since the year 2014 as one of the best six centers in the Arab area.
Sudacat has remained since then exerting utmost efforts, a matter that motivated the ITU to honor it as part of its celebrations marking the 25th anniversary of establishment of the development sector at the union during its world conference, currently in session in Argentina.
US Treasury Lifts Ban on Over 200 Sudanese Companies, Publishes Full List
October 16, 2017 - In accordance with the political decision made by the US government two weeks ago to revoking the economic embargo on Sudan, the US Treasury Department has lifted the ban on more than 223 companies, institutions, banks and Sudanese public and private organizations.
The US Department of State’s Office of Foreign Assets Control, which is linked to the US Treasury, published on Thursday the list of 223 companies, organizations and factories involved in the lifting of the embargo, in their names, addresses and locations inside the country. The list includes Sudan Central Bank, Sudan Railway Corporation, Giad Industrial Company and Sudan Telecommunications Company (Sudatel).
The U.S. Administration had permanently lifted 20-year-old economic sanctions against Sudan citing positive actions on humanitarian access and counter-terrorism.
Following that, the CBoS said money transfers in U.S. dollar started to flow from international banks to Sudanese banks, with, two Sudanese banks already actually receiving international transfers from banks in the United States and Europe.
The permanent lifting of the sanctions ends a U.S. economic embargo on Sudan, removing longstanding restrictions on trade and financial transactions. It also permits U.S. companies to do business with oil and gas industries in Sudan.
Sudan now hopes its name would be removed from the U.S. list of states sponsor of terrorism. That designation carries its own penalties, including a ban on weapons sales and restrictions on U.S. assistance.
Sudan was placed on the terror list in 1993 over allegations it was harbouring Islamist militants working against regional and international targets.