Generalizes on the best strategy to enter the market, e.g., visiting the country; importance of relationships to finding a good partner; use of agents.
For decades, success in Sudan’s economy was heavily dependent on access to influential government officials or to highly connected interlocutors. The CLTG has pledged reforms aimed at eliminating corruption, influence peddling, and establishing a level playing field for prospective investors through legal reforms. The U.S. Department of Commerce, with the support of USAID, has launched its Commercial Law Development Program (CLDP) to assist the Sudanese government in reforming its commercial code.
Under the previous government, investors seeking to establish business operations in Sudan worked with the Sudan Business and Employer Federation, the Sudan Chamber of Commerce, Ministry of Industry and Trade, and the Central Bank of Sudan to obtain the necessary permits, licenses, letters of credit, etc. to formally establish the legal business entity in Sudan. The CLTG has begun overhauling these regulations.
As Sudan continues in this transitional period, investors and entrepreneurs are encouraged to cultivate a local partner who is familiar with current market conditions and can advise on the ongoing governmental developments and the evolving regulatory environment.