{"id":65044,"date":"2024-09-09T17:55:00","date_gmt":"2024-09-09T17:55:00","guid":{"rendered":"https:\/\/www.africa-press.net\/south-sudan\/all-news\/investment-minister-bids-to-change-south-sudans-import-reliant-status-2"},"modified":"2024-09-09T17:55:00","modified_gmt":"2024-09-09T17:55:00","slug":"investment-minister-bids-to-change-south-sudans-import-reliant-status-2","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/south-sudan\/all-news\/investment-minister-bids-to-change-south-sudans-import-reliant-status-2","title":{"rendered":"Investment minister bids to change South Sudan\u2019s import-reliant status"},"content":{"rendered":"

Africa-Press – South-Sudan. <\/strong><\/span>The Minister of Investment said the institution is developing a five-year strategic plan to transition South Sudan from a consuming to an exporting economy.<\/p>\n

Speaking at the conclusion of a two-day workshop on the country\u2019s investment policy, Dr. Dhieu Mathok said the strategic plan, which will run from 2025 to 2030, is aimed at changing South Sudan\u2019s economic model from consumption-based to production-driven.<\/p>\n

Mathok said this will be achieved by promoting industries that can produce and export goods and services, thereby reducing the heavy reliance on imports.<\/p>\n

\u201cWe are going to make a strategic plan of five years; that is from 2025 and 2030. We will identify the key indicators that we are going to work on,\u201d Mathok said on state-owned television SSBC.<\/p>\n

\u201cWe want to change the narrative of the balanced trade, for the interests of the export is a consumption. South Sudan is a consuming country. We need to change this narrative so that we have a production that we could be able to sell.\u201d<\/p>\n

On his part, Vice President Dr. James Wani Igga highlighted the importance of creating a favourable environment to attract investments, which he said is vital for the country\u2019s economic growth and development.<\/p>\n

\u201cIn South Sudan, objectives of investment policy formulation must entail creating a solid approach for case investment, encouraging investment in a prioritized sector, and maximizing the benefits and minimizing costs.\u201d<\/p>\n

\u201cThis is the aim of every investment and of course, associated with investment for the domestic economy and third party stakeholders such as the local communities or societies,\u201d said Igga, the head of the government\u2019s economic cluster.<\/p>\n

South Sudan exports mainly oil, while importing substantial amounts of food and manufactured products from the region and beyond.<\/p>\n

But Juba is currently struggling with a dire inflation after the Sudan war damaged pipelines exporting its chief crude oil to the international market, depriving the country of its crucial revenue generator.<\/p>\n

This has left the pound currency drastically weakened against the US dollar and civil servants and members of the organized forces have not been paid for nearly 10 months.<\/p>\n

According to the US development agency USAID, widespread corruption and an absence of political will to use public resources for public good significantly hinder South Sudan\u2019s prospects for sustainable economic growth.<\/p>\n

Most of South Sudan\u2019s public revenue is spent on roads, and USAID said the South Sudanese have yet to benefit from this investment, because the country has the lowest level of rural accessibility to road networks in the world.<\/p>\n

For More News And Analysis About South-Sudan<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – South-Sudan. The Minister of Investment said the institution is developing a five-year strategic plan to transition South Sudan from a consuming to an exporting economy. Speaking at the conclusion of a two-day workshop on the country\u2019s investment policy, Dr. Dhieu Mathok said the strategic plan, which will run from 2025 to 2030, is […]<\/p>\n","protected":false},"author":84,"featured_media":65043,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[234,265,233],"class_list":["post-65044","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-south-sudan","tag-south-sudan"],"yoast_head":"\nInvestment minister bids to change South Sudan\u2019s import-reliant status - South Sudan<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/south-sudan\/all-news\/investment-minister-bids-to-change-south-sudans-import-reliant-status-2\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Investment minister bids to change South Sudan\u2019s import-reliant status\" \/>\n<meta property=\"og:description\" content=\"Africa-Press – South-Sudan. The Minister of Investment said the institution is developing a five-year strategic plan to transition South Sudan from a consuming to an exporting economy. 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