an increasingly higher. share of total investment, and rose to 13.3 per cent of capital formation in 1981. In the Sudan, large agro-based projects have been started in recent years, with a view to exporting to the rich markets of the Arabian peninsula. Particularly large investments have been mace in suear produc­tion, with one of· the largest sugar plants in the world built at Kenana. These projects have been hampered lately by acute balance-of-payments difficulties, manpower problems and large cost overruns. 66 E/ECA /CM. 9/5 118. Outside North Africa, sienificant industrial investment has taken place only in the Ivory Coast, Kenya, Nigeria, the United Republic of Cameroon and Zimbabwe. In Nieeria manufacturinf in­ vestment has increased very rapidly with the rise of oil revenues; an indel of this is. the erowth cf investment in machinery and equipment, which gre...,: from N323 million in 1973 to N2,453 million in 1981. Investment has branched out of ordinary consumption fOOds and arrc-inoustry into vehicle assembly, petroleum refinine, chemicals and steel making. In the Ivory Coast the record is also impressive: the level of industrial in­ vestment in 1980/81 was 3.2 times that of 1975/76. However, despite its rood export performance manufacturinf in th~ Ivory Coast is hampered by high costs, a small internal n:arket and a weak competitive position vis-a-vis south-east Asian products in both domestic and external markets. 3. Strateeies and policies 119. Import substitution policies have enjoyed great popularity in developine countries since the early 1960s, ar.c in some in­ stances have been highly successful in creatine a sirnificant in­ dustrial base. However, in African countries, where the comestic markets are eeneraly very small (the "averaee" African country has a population of only B-9 million people, a.nd a GDP of less than $10 billion) import sul::sti tuticn has net only failed but has 
**Analysis**
The text discusses the economic development of African countries, specifically the investment in industries such as sugar production, vehicle assembly, petroleum refining, chemicals, and steel making. It also touches on the challenges faced by these industries, including balance-of-payments difficulties, manpower problems, and cost overruns. Additionally, it mentions the importance of industrial investment in countries like Nigeria and the Ivory Coast.

**Category**
Economic development, Industry