The government of Sudan is gearing up to receive significant investments from Asia and Europe on the establishment of the Red Sea economic free zone.
This was disclosed by the higher committee for supervising relations with Russia, China and India on Sunday, after a meeting to discuss the arrangements for establishing the Red Sea economic free zone.
The meeting was chaired by the committee’s deputy chairman, Dr. Awad Al-Jaz, and in presence of the Ministers of Finance and Investment and the Wali (governor) of the Red Sea State, Ali Ahmed Hamid.
The Wali (governor) of the Red Sea State said that the free zone, proposed to be established along the Red Sea coast between Suwakin and Port-Sudan, is expected to attract large investments from China, Russia, Turkey and other countries.
He said that this free zone will be an important economic and investment center for the international trade.
He indicated that a study on the feasibility on the free zone will be conducted, indicating that the Red Sea Zone will be managed by the Ministry of Finance under supervision of the Ministry of Investment.