The UAE embassy in Sudan issued a warning to its people to use caution and avoid crowds and disturbances.
The embassy highlighted the significance of adhering to the safety directives issued by the Sudanese authorities, getting in touch with the embassy at 0097180024 or 0097180044444, and signing up for the my presence service on its Twitter account.
Emiratis have made large investments to revivify Sudan and resolve its crisis.
A collaborative alliance working to create, develop, and operate a port on the Red Sea is one of the UAE's most significant investments in Sudan in December 2022. This move will boost the Sudanese economy.
At a time when the nation is experiencing an economic crisis due to political unrest, Sudan signed a $6 billion agreement with a consortium led by the Abu Dhabi Ports Group and Invictus Investment Company to establish the new "Abu Amama" port, which includes an economic zone on the Red Sea.
According to the announcement made by the Sudanese Minister of Finance, Planning, and Economic Jibril Ibrahim, the port of "Abu Amama," which will be built north of Port Sudan, through which the vast majority of Sudan's imports and oil exports from South Sudan pass, will include "an industrial and tourist area, an international airport, and a power station, in addition to cultivating 400,000 acres."
According to the Emirates News Agency, the agreement gives the alliance made up of the Abu Dhabi Ports Group, which is primarily owned by the "Holding" company; It is a sovereign fund in Abu Dhabi; and Invictus Investment Company, the largest private group in Sudan, the rights to develop, manage, and operate a port and the assets of an economic zone in Sudan.
direct results
Nile Al-Jawabra, an economist for the Emirati government, told Q-Post that Emirati investments are long-term investments that will benefit the Sudanese economy in the near future. Particularly in the area of agriculture, it is crucial to invest in Sudan, as doing so will result in a process of development and the construction of infrastructure in a free economic zone that will draw in additional investments.
A portion of the UAE investments, he continued, come to support the Sudanese Central Bank in its efforts to achieve exchange rate stability in the upcoming period. He also pointed out that the implementation of infrastructure projects in this region increases Sudan's opportunities for export outside of the country, benefiting from the sea port.
According to Sudanese academic Dr. Muhammad Turshin, the signing of this agreement will directly affect the country's economy. He also told Q-Post that it advances the UAE's strategic interests in the region because Emirati managers currently run ports that look out over the Red Sea in neighbouring nations. This means that it has a direct impact on how commercially international trade moves across this significant sea area.
In light of the port's limited operational capacity, which will inevitably increase if the development process proceeds as planned, Torshin added that the agreement will also benefit Sudan by allowing it to tap into the accumulated Emirati experience in terms of operating ports. So that not just Sudan but also the surrounding nations in Central Africa can benefit from it to the fullest extent possible, Sudan can serve as a trade corridor for the items those countries need through their land borders.
Not only the UAE, but many other nations considering serious investment and establishing a foothold in this region, which is traversed by a significant portion of global trade and the Suez Canal through which commercial ships travel to continents, find investing in the strategically located area overlooking the Red Sea to be attractive. According to Dr. Sally Farid, a professor of economics and the director of the department of politics and economics at Cairo University's graduate school of african studies, Sudan's top commercial partner at the moment is the United Arab Emirates.
One of the UAE's principal trading partners is Sudan. In 2020, Sudan's exports to the UAE totaled $1.86 billion, compared to the UAE's exports to Sudan of $1.14 billion.
The biggest international investment
Especially during the time of US sanctions that prevented Khartoum from dealing directly with international banking institutions, according to Sally Farid, the majority of inbound and outbound trade from Sudan was routed through UAE ports and airports in recent years. The UAE's $6 billion investment in Sudan will be the first sizable foreign investment since the overthrow of the civilian component of the ruling power.
A free trade zone will be established, a sizable agricultural project will be undertaken, and $300 million will soon be deposited in the Central Bank of Sudan, according to Farid, who also notes that UAE help must be invested, whether in ports or agricultural projects. Given the necessity to establish a state of food and agricultural sufficiency, whether in Sudan or elsewhere, Khartoum is one of the candidate nations for attaining this aim thanks to the existence of a 750 km Red Sea coast, which is the most significant worldwide shipping lane.
Muhammad Turshin emphasises that the signing of the accord follows the previous political agreement as he draws to a close. Therefore, upon the creation of the new government, it is anticipated that it will be approved by both the government and the Sovereign Council.
