South Sudan To Diversify Its Economy

This article was last updated on May 21, 2022

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Radio Miraya has quoted the Republic of South Sudan Vice President Dr Riek Machar Teny announcing the move. 

Speaking at the closing of a trade and investment workshop held in Juba’s Nyakuron Cultural Centre last week, the Vice President said that the dream could be realised if relevant institutions in the country are developed accordingly.

He says by so doing, “South Sudan will be able to compete with regional and international export markets”, Radio Miraya reported.

Reflecting the Country’s present economic reliability Dr Machar says that after halting of oil production in January, South Sudan has continued to largely depend on foreign imports mostly from Uganda and Kenya with little export in return.

He insisted that there is a need to diversify the economy of the country with a special focus on agriculture, forestry and livestock.

“These potentials, if developed, would be used for domestic consumption while exporting surplus regionally or internationally”, he said.

The VP disclosed that South Sudan is currently studying and exploring available opportunities considering potential resources the newborn country can export.

He revealed a plan of the new nation to join regional trade bodies notably the East African trade blocs sooner.

Speaking at the function, the Minister of Commerce, Industry and Investment, Garang Diing Akuong said the workshop’s objective was to generate and devise ideas on how South Sudan should integrate into the regional and international trade organisations.

The media reported that a number of international economic specialists who attended the workshop made remarkable presentations on diverse aspects of trade and investment.