Minister of Industry affirms raising of funds for engineering industries

The Minister of Industry Engineer Abdul-Wahab Mohamed Osman has asserted importance of providing funds for engineering industries as they are considered a spearhead in the development of national industry. He said, during his address Monday to a celebration on the opening of the exhibition for development of industries, organized under the slogan of "The National industries for import substitution" at the Centre for Industrial Research and Consultancies, that the added value to the goods targeted by the Tripartite Economic Programme (which aims to import substitution and increase of exports after the secession of the south Sudan), intended to compensate losses of oil revenues through production of wheat, gum arabic, sugar and vegetable oils as well as medicines, cotton and meat in coordination with the concerned parties. Engineer Osman said Sudan wealth would not create added value to the industry except through indigenization of engineering industries which contribute to the growth of gross domestic product (GDP) through medium and long-term finance from domestic, Arab and African capital and money markets, calling for exemption of production inputs from customs duties and taxes, particularly in the sectors of pharmaceutical and other important industries. The minister praised the societies that have contributed to the success of the exhibition including Kenana Sugar Company, GIAD Group, the Sudanese-Malaysian Factory and the Centre for Industrial Research and Consultancies. For his part, Dr. Azhari Mohamed Al-Badawi, the Director of the Centre for Industrial Research and Consultancies stressed importance of indigenization of industries considered as the backbone of the economy, explaining that the goal of the centre is to achieve a qualitative leap for national industries.