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Sudanese economy to benefit from US sanctions lift - experts

By Mohammad Abdulaziz KHARTOUM, Oct 19 (KUNA) -- The decision to lift US sanctions on some 223 companies and institutes in Sudan will have a positive impact on the economy, said a number of experts and officials Thursday.
Speaking to KUNA on separate occasions, the experts and officials agreed the decision would hopefully result in the recovery of the Sudanese economy, which suffered around USD 500 billion in losses during the tenure of the sanctions.
Minister of State for Investments Osama Faisal said that his ministry was embarking on plans to bring investments to the country, affirming that the economy was in desperate need to attract foreign businesses.
The lifting of the sanctions will be the chance for Sudanese to prove their worth to the world, said the official who affirmed that his compatriots were up to the challenge.
Similarly, Minister of State for Industry Abduh Dawoud said that the industrial sector would pounce on the chance to prove that Sudan was the place to invest.
He affirmed that the latest technological tools and programs would be used to bring businesses to Sudan, which will in turn better economy of the country.
Economic experts Mohammad Al-Amin, Dr. Al-Ser Mohammad Nour, and Dr. Adel Abdulaziz all agreed on the positive outcome of the decision, saying that all Sudanese sectors will benefit immensely from the lift of sanctions.
Arab and foreign businesses is expected to flow normally now that the sanctions are no more, they affirmed.
The US Department of State on announced on October 5 the official lifting of sanctions imposed on Sudan 20 years ago. (end) mhh.gta