JUBA – South Sudan’s Minister of Petroleum, Puot Kang Chol, on Wednesday called on international companies to invest in the country citing a conducive environment.
Chol said the government has created a conducive environment for foreign investors.
“South Sudan is peaceful, is stable, and therefore, the environment is conducive for investment,” Chol told reporters at the 5th National Oil $ Power Conference in Juba on Wednesday.
Chol said South Sudan is a gateway to East Africa with has lot immense investment opportunities.
“We have better opportunities like anywhere else, you all know we are the youngest nation in the whole and 90 percent or 95 percent in any sector remains untapped, we didn’t touch anything,” Chol said.
“Coming to South Sudan to do business here is the right place to be because you will get your expectation in a very short period of time.”
Chol pointed to the oil and mining industries as important investment opportunities available for international companies in the country.
We have opportunities in the oil sector, we have blocks that are available for anybody that is interested and we also have existing blocks for those who want to enhance oil recovery and improve oil recovery,” he said.
He urged the business tycoons to urgently utilize business prospects.
“We have such opportunities and we want investors to take this opportunity because it doesn’t exist elsewhere also in mining, there are such opportunities and also in the energy sector and that is to say in power.”
Insecurity and political instability in the country since 2013 have discouraged several investors from tapping into immense investment opportunities in the country.