The sources added that the increase in demand for establishing Sudanese companies came after facilitating procedures, reducing the time frame, and activating the one-stop-shop mechanism, especially since the government identified a package of incentives to encourage foreign investments, most notably granting residency of up to 5 years to the owners of these entities.
She explained that the establishment of these entities came within the framework of Sudanese investors’ efforts to work and seize market shares locally, pointing out that their numbers are expected to grow during the coming period, which may contribute to enhancing foreign exchange flows and creating job opportunities.
The government has approved several incentives to facilitate procedures for establishing companies and lift restrictions on foreign ownership of real estate, with the aim of attracting direct investments and alleviating the pressures of the lack of dollar liquidity.
The Prime Minister said in a previous statement that the government aims, through incentives, to increase the volume of private sector investments within 3 years to reach about 60-65% of the total.
The incentives included issuing approvals to establish companies within a maximum of 10 working days from the day the application was submitted.
It also included enabling the foreign investor to deal with banks once he submitted an application to establish a company, which was not previously available, in addition to expanding the issuance of the golden license “unified approval” for all investors, whether local or foreign, and facilitating land ownership.
Source: Money
#Hundreds #Sudanese #companies #Egypt
