Peace agreement sparks huge investment in South Sudan

Foreign investors attending a 'Southern Sudan International Investment and Development Conference' held in Nairobi March 14-15, expressed fears over the availability of trained manpower in the country and the transparency in the oil industry, reported PDO/Xinhua March 23, 2006. Excerpt:

Southern Sudan's Minister for Industry and Mines Albino Akol said the transparency in the management of the oil resources in the country, especially in the management of oil fields in the south was a key concern the government is addressing.

"The oil industry is governed by the provisions of the Comprehensive Peace Accord (CPA) through the National Petroleum Commission. We need to demarcate borders of oil fields in the south to ensure transparency because sharing of the profits is based on the proceeds of the oil in the south," Akol told the investors.

Note, the article explains that despite the success of the conference, some regional experts predict uncertainties and difficulties ahead:

Southern Sudan has seen virtually no development since the 1950s. The peace accord allows the southern Sudanese to hold a referendum on independence in six years, setting up the possibility of more conflict with the north, analysts say.