By Amr Adel
Dubai-Mubasher: The GCC investments in Africa's infrastructure projects reached nearly $30 billion, half of which are direct investments and the remaining are grants and loans, said UAE Minister of Economy Sultan Al-Mansoori.
The Gulf's investments in Africa's infrastructure projects contributed nearly 7-10% to foreign investments in the continent's infrastructure, the minister told Africa Global Business Forum 2015 in Dubai.
Al-Mansoori called for setting laws and regulations to reach the hoped investments in the African continent, stressing the importance of Africa economically, especially as its growth rate reached 4-4.5% at a time when growth is slowing in some other countries.
The minister highlighted the need to boost the GCC strategic investments in the African markets.
"There are several investment opportunities in different sectors, especially in the agriculture, infrastructure, mining, trade, logistics, tourism and financial services sectors," he added.
Al-Mansoori called upon the UAE companies to seize the promising investment opportunities in the African food sector, noting that the continent has vast tracts of arable land which are supported by water sources and professional farmers.
Translated by Abdul Maguid Aboshahla
