Poor Foreign Investment In The South

16 July 2010 - (Juba) – Southern Sudan Investment Authority says foreign investment has not being doing well because of the incomplete legal framework.

The deputy secretary general at the Southern Sudan Investment Authority Akuei Deng Spoke to SRS in Juba on Friday.

[Akuei Deng]: “Foreign investment has not been perfectly in place. It is because of the legal set up. Laws governing foreign investment have not actually been put in place. We as an investment authority have three cardinal functions; promotion of investment, facilitation of an investor and licensing of investments. We are not doing this currently because of the legal framework that has not been completed. We do some promotions over the radio, Southern Sudan Radio and Southern Sudan TV. There are programs presented by the secretary-general. But otherwise we don’t of having done a good job but because we being handicapped by the legal framework which has not been completed.”

Deng also attributed poor foreign investment to the forthcoming referendum.

[Akuei Deng]: “There maybe at least one obstacle which makes foreign investors afraid of- the “what will become of the south after 2011? There are people who are not ready to risk if the south goes for unity. There are others who would not risk if the south becomes a separate nation. There is a question of ambivalence- what do you do if such a scenario happens?”

Akuei Deng said they are expecting intervention from the World Bank.