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The vice president for Economics Cluster has called on global companies to invest in South Sudan.

“With our standing success, the climate is now conducive for any time of investment, engagement, and partnership,” Dr. James Wani said on Monday during the Paris Investment Summit in France.

The vice president is representing President Salva Kiir in the two-day summit hosted by French President Emmanuel Macron.

Other African leaders and chiefs of global financial institutions are also attending the summit which seeks to spur a new democratic era and provide Africa with critical financing.

Addressing the forum, the vice president said South Sudan is now safe for investment, citing the implementation of the September 2018 peace agreement.

After South Sudan gained independence in 2011, investors from the region and globe flocked to the country seeking virgin business opportunities.

But the 2013 and later 2016 conflicts among the country’s political leaders sent many potential investors packing due to insecurity and economic downturn.

With the signing of the 2018 revitalized peace agreement and subsequent formation of a unity government in 2020, the government says the environment is now ripe for investments.

The country has also got a positive review by the 2020 Investment Environment report by the US Department of State.

The report said the trade and investment conditions in South Sudan have slightly improved in the past year, but added that many challenges remain.

It cited reported unfair practices that have included effective expropriation of assets, inconsistent taxation policies, harassment by security services, extortion attempts, and a general perception that foreigners are not afforded fair results in court proceedings or labor disputes.

The report further said the legal framework governing investment and private enterprises remained underdeveloped as of April 2020.

But according to the country’s vice president for economics cluster, the transitional government is engaged in addressing malpractices in the economic sector.

“The concentration economically is on the public finance management. This is stipulated in the agreement where we are vehemently combating malpractices alongside any forms of corruption,” Dr. Igga argued.

“The intention is to ensure transparency and accountability. We therefore here appeal to investors globally to commence investment without further ado in South Sudan.”

The World Bank’s 2020 Doing Business report also ranked South Sudan 185 out of 190 economies on the overall ease of doing business.