Learn about barriers to market entry and local requirements, i.e., things to be aware of when entering the market for this country.
Companies considering the Sudanese market face a high degree of uncertainty due to political turmoil, corruption, an inefficient bureaucracy lacking in capacity, an evolving regulatory environment, and a struggling financial sector. The current government lacks popular legitimacy and political instability has prompted most domestic firms to suspend future investment plans. The government has doubled the business tax to 30 percent and raised fees on the private sector in an attempt to increase government revenues which have plummeted since the military takeover. The government is eager to reverse the country’s economic contraction and is seeking to attract prospective investors with preferential tax and property incentives. However, it is unclear if any deals struck with the current government, including state-owned enterprises (SOEs), will be respected by future political dispensations. On May 23, 2022, the U.S. government issued a business advisory highlighting the growing reputational risks to U.S. businesses and individuals associated with conducting business with Sudanese SOEs, including military-controlled companies.