(MENAFN) USD500 billion is the amount of investment Sudan needs for development, the acting president of the New World Industrialist and Businessmen's Association (YENÄ°AD) Harun Macit has said.
He said that Sudan is among the top three African countries in terms of gold and copper mines, and Turkish businesspeople can play an important role in the country's mining industry.
"Due to the lack of proper mining technology they [Sudanese people] have limitations. Beneath the surface, a large amount of precious metals are waiting to be explored," he said.
Macit invited Turkish businesspeople to establish a system to process those metals and integrate them with Turkey's gold exchange market to provide overseas finance for Sudan.
He said five consortiums were set with Sudanese and Turkish businesspeople in the fields of construction, energy, mining, agriculture and machinery during a business trip organized by YENÄ°AD in February.
"Preliminary agreements worth USD1.2 billion were signed between Turkish businesspeople and Sudanese ministry officials along with private sector representatives during the visit," Macit said.
"We believe that those business agreements will be confirmed this year and completed in five years," Macit said.
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