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Economy of Sudan and business opportunities

Economy of Sudan

Until the second half of 2008, Sudan's economy boomed on the back of increases in oil production, high oil prices, and large inflows of foreign direct investment. GDP growth registered more than 10% per year in 2006 and 2007. From 1997 to date, Sudan has been working with the IMF to implement macroeconomic reforms, including a managed float of the exchange rate. Sudan began exporting crude oil in the last quarter of 1999.

Agricultural production remains important, because it employs 80% of the work force and contributes a third of GDP. The Darfur conflict, the aftermath of two decades of civil war in the south, the lack of basic infrastructure in large areas, and a reliance by much of the population on subsistence agriculture ensure much of the population will remain at or below the poverty line for years despite rapid rises in average per capita income. In January 2007, the government introduced a new currency, the Sudanese Pound, at an initial exchange rate of $1.00 equals 2 Sudanese Pounds.

Sectors

Tourism

Sudan is one of the largest Arab nations. It is rich in history dating back to the Ancient Egyptians and the Ancient Nubians. There are many pyramids all over Sudan, attracting many tourists from Syria, Egypt, Morocco, Jordan and other Arab countries, as well as tourists from Western nations. The government of Sudan also pledge $1 billion a year to increase the tourist industry.

Agriculture

Agricultural products in total account for about 95 percent of the country's exports. Cash crops (as of 1999) grown under irrigation in these areas include cotton and cottonseed, which is of primary importance to the economy with 172,000 tons and 131,000 tons produced annually respectively, sesame (220,000 tons), sugarcane (5,950,000 tons), peanuts (980,000 tons), dates (176,000 tons), citrus fruits, yams (136,000 tons), tomatoes (240,000 tons), mangoes, coffee, and tobacco. The main subsistence crops produced in Sudan are sorghum (3,045,000 tons), millet (1,499,000 tons), wheat (168,000 tons),cowpeas, beans, pulses, corn (65,000), and barley. Cotton is the principal export crop and an integral part of the country's economy and Sudan is the world's third largest producer of sesame after India and China.

Industry

Sudan's rapid industrial development consists of agricultural processing, electronics assembly, plastics manufacturing, furniture, tanning, sugar production, meat processing and various light industries located in any of the 10 Industrial areas in Khartoum. due to the many countries depending on Sudan for medicines and medical services, Sudan is now concentrating on becoming a hub for the medical industry in East Africa, providing facilities and concessions for medical investments and succeeding in covering about 70% of needs and exporting to many neighbouring nations.

Gold

In September 2012, Sudanese President Omar al-Bashir opened the country's first gold refinery and it is speculated to be one of the largest such constructions in Africa. The refinery will produce more than 328 tonnes of gold annually. According to Reuters, Sudan hopes to double its gold revenues this year to $3 billion.

This article is licensed under the GNU Free Documentation License. It uses material from the Wikipedia article "Economy Of Sudan"

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This section contains economy and business opportunities and from Sudan.
Sudan Economy Sudanese Economy, business opportunities in Sudan.
Summary:
Request For Financial Service Provider
Country:
Sudan
 
Notice Type:
Tender Notice
Deadline:
01 Apr 2024
Posting Date:
27 Mar 2024
 
 
 
Summary:
Conflict Analysis For The Strengthening Inclusive Partnerships For Smallholders In Rain-Fed Areas (Sipra) Programme
Country:
Sudan
 
Notice Type:
Tender Notice
Deadline:
04 Apr 2024
Posting Date:
27 Mar 2024
 
 
 
Summary:
Call For Specialized Companies Supplies Office And Guesthouse Furniture. Contracting With Companies To Supply Office And Home Furniture
Country:
Sudan
 
Notice Type:
Tender Notice
Deadline:
05 Apr 2024
Posting Date:
27 Mar 2024
 
 
 
Summary:
Third-Party Monitoring Services In Sudan
Country:
Sudan
 
Notice Type:
Tender Notice
Deadline:
08 Apr 2024
Posting Date:
23 Mar 2024
 
 
 
Summary:
Echo Final Evaluation
Country:
Sudan
 
Notice Type:
Tender Notice
Deadline:
04 Apr 2024
Posting Date:
22 Mar 2024
 
 
 
Summary:
Solar Vaccine Refrigerator
Country:
Sudan
 
Notice Type:
Tender Notice
Deadline:
26 Mar 2024
Posting Date:
22 Mar 2024
 
 
 
Summary:
Provision Of Treadmill And Bike
Country:
Sudan
 
Notice Type:
Tender Notice
Deadline:
26 Mar 2024
Posting Date:
22 Mar 2024
 
 
 
Summary:
Supply & Delivery For Renting Vehicles (Land Cruiser, 4-Wheel Drive) With High Quality) For Crs Staff Supervision Visits To Projects Site In El Genina Locality, Mornei Admin Unit, Habila, Forbaranga And Beida Localities For (Health, Nutrition, Wash, Fsl
Country:
Sudan
 
Notice Type:
Tender Notice
Deadline:
31 Mar 2024
Posting Date:
22 Mar 2024
 
 
 
Summary:
Tender For The Supply And Delivery Of Clothes As A Gift For Ramadan Eid 2024, Gedaref State
Country:
Sudan
 
Notice Type:
Tender Notice
Deadline:
27 Mar 2024
Posting Date:
21 Mar 2024
 
 
 
Summary:
Vehicle Rental Services
Country:
Sudan
 
Notice Type:
Tender Notice
Deadline:
26 Mar 2024
Posting Date:
21 Mar 2024