udanese Investment Minister Mubarak Al-Mahdy ascertains that there are more than 100 million acres available for Egyptian investments. The statement came during the fourth Global Business Forum on Africa held in Dubai - Wednesday, November 1, 2017. - Logo
CAIRO – 2 November 2017: There are 108 million acres of agricultural land available for Egyptian investment, Sudanese Minister of Investment Mubarak Al-Mahdy ascertained during the Global Business Forum on Africa on Wednesday.
The Sudanese minister’s statement came in the framework of stressing further stronger bilateral relations between Egypt and Sudan.
“Of the 162.5 million acres of agricultural land in Sudan, only 54.2 million acres are actually cultivated; which leaves over 100 million acres for Egyptian investments,” Mahdy explained.
The minister referred to the decrease in Egyptian investments that Sudan has witnessed of late, after a real estate project undertaken by Ahmed Bahgat, the Egyptian businessman, froze. Nevertheless, Mahdy emphasized that Egypt still has many opportunities to invest in Sudan again.
“Egypt has many formidable chances of cooperating and investing in Sudan’s meat imports and all kinds of oils, in addition to the food industry as a whole,” Mahdy remarked.
The fourth round of the Global Business Forum on Africa is organized and held by the Dubai Chamber of Commerce and Industry in Jumeirah, Dubai on November 1 and 2, under the auspices of Mohammed bin Rashid Al-Maktoum, the vice president and prime minister of the United Arab Emirates. Many high level officials also partook in the forum, including the presidents of four African countries, 15 ministers, and a large number of officials, that is in addition to at least 1,000 of the most prominent economic figures globally.
In her opening speech at the forum, Minister of State and International Cooperation Reem bint Ibrahim Al-Hashimy stated, "From those first contacts, a young country's vision, driven with determination by its leadership under His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, has coalesced into collaborative working relationships that span the continent of Africa and map a shared future," Emirate 24/7 reported.
The forum, which was held under the title of “Tomorrow’s Africa: The New Generation of Businessmen,” is the largest economic African conference held outside the African continent.