OPIC, South Sudan Sign Investment Agreement
April 17, 2013
(OPIC)
Signing Kicks Off the U.S. Government-Sponsored South Sudan Investment Forum
Washington, D.C. – The Overseas Private Investment Corporation (OPIC), the U.S.
Government’s development finance institution, today signed an Investment
Incentive Agreement with the Government of South Sudan supporting U.S. private
sector investment in Africa’s newest nation. The agreement was signed by OPIC
Executive Vice President Mimi Alemayehou and South Sudan’s Minister of Commerce,
Industry & Investment Garang Diing Akuong at the U.S. Government-sponsored
South Sudan Investment Forum, organized by the U.S. Agency for International
Development (USAID).
The agreement affirms the two countries’ commitment to encourage U.S. private
sector investment in South Sudan. It also streamlines OPIC’s ability to support
U.S. companies’ investments that contribute to the economic development of the
country. This agreement is the culmination of discussions that started last
fall, when OPIC President and CEO Elizabeth L. Littlefield travelled to Juba to
commit to negotiating the agreement and began exploring U.S. investment. OPIC
has been actively seeking private sector investors to identify projects
important to South Sudan’s economic development.
The first investment OPIC will support in South Sudan is the construction and
operation of a 150-room hotel in Juba by Aquila Investments LLC, a
Delaware-based company Taher Investments, a Jordan-based company. The hotel will
provide business-friendly accommodations for foreign investors and people in the
development community. The project will also support local job creation in a
country dealing with high levels of unemployment.
The South Sudan Investment Forum is taking place on April 17, when government
officials of the United States and Republic of South Sudan will discuss
investment opportunities with representatives of private sector companies in
sectors including petroleum, energy, infrastructure, and agriculture.
This investment forum follows the South Sudan Economic Partners Forum on April
16 hosted by the U.S. government in coordination with the governments of the
United Kingdom, Norway and the European Union, to discuss the economic and
fiscal challenges facing South Sudan and plans to diversify South Sudan’s
economy to allow for sustainable long-term growth.
The U.S. government convened the South Sudan Economic Partners Forum as an
opportunity for representatives of governments and international financial
institutions including the International Monetary Fund, World Bank, and African
Development Bank to discuss strategies to address South Sudan’s economic
challenges with South Sudanese government officials and offer support for sound
government policy decisions.
Welcome to the Exporting Source
Your one-stop resource for finding help to export to new customers, to learn about government export programs, to join export-promoting trade missions, to sign up for trade conferences and training, and to link to other exporting services. Whether you're an old hand at exporting or just getting started, the Exporting Source provides a place to locate foreign customers, export financing and foreign investment assistance.