Investment Climate Statements for 2016 - South Sudan

Executive Summary

Trade and investment conditions in South Sudan are not favorable to U.S. firms.

Armed conflict broke out in December, 2013 between government and anti-government forces and since then has continued at varying levels of intensity. The sides reached a peace agreement in August2015 and pledged to stop fighting and create a transitional government, but implementation of the agreement has been drawn out. Active fighting has continued in various parts of the country. The turmoil has halted most economic and development efforts and led to large-scale displacement, worsening food security, severe human-rights abuses, restricted humanitarian access, and disrupted trade, markets, and cultivation activities. The war has claimed thousands of lives and spurred one of the world’s most serious humanitarian crises, with an estimated 1.69 million Internally Displaced People (IDPs), almost 800,000 refugees, and 188,000 South Sudanese sheltering at six UN Mission in South Sudan (UNMISS) Protection of Civilian (POC) sites throughout the country. Out of a population of approximately 12 million, some 4 million people are considered "food insecure" and only half of school-age children, roughly 1.3 million, attend classes. The conflict has been marked by grave human rights abuses, especially pervasive gender-based violence.

In response, the USG has provided nearly USD 1.5 billion in humanitarian assistance since December 2013 for populations affected by the crisis in South Sudan. During 2015, the bulk of U.S. and the international community’s support efforts were directed at the immediate needs of the ongoing humanitarian crisis brought on by the civil conflict, and other development assistance has been significantly reduced. South Sudan was terminated as an African Growth and Opportunity Act (AGOA) beneficiary effective January 1, 2015 due to its failure to address human rights violations and other concerns related to eligibility. With no access to external financing, the government has used domestic borrowing from the central bank to cover a growing financial shortfall and pay monthly operating expenses. The U.S Department of State maintains a Travel Advisory warning United States citizens not to travel to South Sudan.

Table 1

Measure	Year	Index or Rank	Website Address
TI Corruption Perceptions index	2015	163 of 167	http://www.transparency.org/cpi2015/#results-table
World Bank’s Doing Business Report “Ease of Doing Business”	2016	187 of 189	doingbusiness.org/rankings
Global Innovation Index	2015	N/A	globalinnovationindex.org/content/page/data-analysis
U.S. FDI in partner country ($M USD, stock positions)	2015	No data	http://www.bea.gov/international/factsheet/factsheet.cfm?Area=458
World Bank GNI per capita	2014	970	data.worldbank.org/indicator/NY.GNP.PCAP.CD

Millennium Challenge Corporation Country Scorecard

The Millennium Challenge Corporation, a U.S. Government entity charged with delivering development grants to countries that have demonstrated a commitment to reform, produced scorecards for countries with a per capita gross national income (GNI) of $4,125 or less. A list of countries/economies with MCC scorecards and links to those scorecards is available here: http://www.mcc.gov/pages/selection/scorecards. Details on each of the MCC’s indicators and a guide to reading the scorecards are available here: http://www.mcc.gov/pages/docs/doc/report-guide-to-the-indicators-and-the-selection-process-fy-2015.

1. Openness To, and Restrictions Upon, Foreign Investment

Attitude toward Foreign Direct Investment

The government of South Sudan is open to and welcomes foreign investment; however, civil conflict, poor financial management, lack of transparency, widespread corruption, and meager infrastructure make South Sudan a very difficult place to invest.

South Sudan is one of the most oil-dependent countries in the world, with oil accounting for almost all of its exports and revenue. The ongoing conflict reduced daily oil production, currently about 160,000 barrels per day (bpd), and the collapse of international oil prices has cut state revenues. The IMF estimates the budget deficit for this fiscal year and the next to be at least $670 million if not higher. The South Sudanese Pound (SSP) continues to depreciate and there are increasing fears this will accelerate unless the government enacts financial reforms.

Foreign currency reserves are extremely low and the government routinely fails to pay for services. Numerous private companies claim the government has reneged on or delayed payment for work under contract. The distribution of hard currency is tightly controlled by the government and is mostly limited to financing the importation of food, medicine, fuel, and building materials. Many companies cite access to hard currency and convertibility of profits as major problems. One of the only international ventures outside the oil industry in South Sudan, the brewery and bottling plant operated by South Sudan Beverages Limited (SSBL), part of SABMiller, ended production in April 2016. The company cited the lack of hard currency to pay for imported raw materials and fuel as the reason. Long-term challenges for the country include diversifying the formal economy, alleviating poverty, maintaining macroeconomic stability, improving tax collection and public financial management, and improving the business environment.

Although the government has made commitments to judicial reform, the legal system is ineffective, underfunded, overburdened, and subject to executive interference. High-level government and military officials are immune from prosecution and parties in contract disputes are sometimes arrested and imprisoned until the party agrees to pay a sum of money, often without going to court and sometimes without formal charges.

The World Bank’s 2016 Doing Business report ranked the economy of Juba, South Sudan’s capital, 187 out of 189 economies on overall ease of doing business. The legal framework governing investment and private enterprises remained underdeveloped as of early 2016.

Other factors inhibiting investment in South Sudan include limited physical infrastructure and a lack of both skilled and unskilled labor. Despite a 119-mile paved road to the Ugandan border, funded by the United States in late 2012, South Sudan (which is slightly smaller than the state of Texas) has fewer than 313 miles of paved roads, and large parts of the country are inaccessible during the rainy season (April through October). None of South Sudan’s three power plants is working, and the country is almost completely reliant on diesel-run generators for electricity. According to the World Bank, 48 percent of the active labor force is unemployed. Unemployment in rural areas is almost 60 percent for both men and women aged 15-24. The majority of South Sudanese work in non-wage jobs, often in the agricultural sector. The country’s literacy rate is 40 percent, according to the Millennium Development Goals Progress Report, with male literacy at 55 percent, compared to 28 percent for women. USAID estimates the literacy rate is even lower, with an overall literacy rate of 27 percent and a literacy rate for women of only 15 percent.

Other Investment Policy Reviews

South Sudan is not currently a World Trade Organization (WTO) member; therefore it does not conduct Trade Policy Reviews. Likewise, it has not conducted OECD or UNCTAD Investment Policy Reviews since its independence in 2011.

Laws/Regulations on Foreign Direct Investment

The Investment Act of 2009 outlines the promotion and facilitation of investment in South Sudan and creates the administrative and operational framework for the South Sudan Investment Authority. Any foreign investor who intends to invest in South Sudan must apply to the Investment Authority for an investment certificate.

Business Registration

The World Bank’s Doing Business survey ranks South Sudan 181 out of 189 countries in registering or starting a business. The South Sudan Investment Authority (SSIA) has been established and has instituted a One Stop Shop Investment Center. However, both organizations are not well resourced and do not have an active web site. The Ministry of Justice has a business registry web site at http://www.registry.mojss.org/index.html. Many of the links, however, are not active.

Industrial Strategy

Due to resource constraints the government has minimal programs for attracting investments.

Limits on Foreign Control and Right to Private Ownership and Establishment

Subject to the Private Security Companies Rules and Regulations, 2013, registering and setting up a protection services security company in South Sudan requires a South Sudanese citizen to hold at least 51 percent of the company. There are no other legal constraints or prohibitions on the right of foreign entities to establish and own business.

Privatization Program

South Sudan does not have a privatization program.

Screening of FDI

South Sudan has no known active process for screening, reviewing, or approving FDI.

Competition Law

South Sudan currently does not review transactions for competition-related concerns.

2. Conversion and Transfer Policies

Foreign Exchange

The 2009 Investment Promotion Act guarantees unconditional transferability in and out of South Sudan “in freely convertible currency of capital for investment; payments in respect of loan servicing where foreign loans have been obtained; and the remittance of proceeds, net of all taxes and other statutory obligations, in the event of sale or liquidation of the enterprise.”

In reality the ability to exchange local currency for foreign currency is severely restricted. South Sudan relies on oil exports for the inflow of hard currency. Those exports and the accompanying revenues were reduced after the outbreak of an internal conflict in 2013. Revenues have decreased further with the fall in the price of oil.

The Bank of South Sudan, the country’s central bank, adopted a floating exchange rate in December 2015 and currently allocates U.S. dollars to commercial banks through periodic auctions. Previously, traders were allocated U.S. dollars through an opaque process. Foreign investors found it difficult to repatriate their locally-generated income. Multiple international companies suspended operations in South Sudan in 2015, claiming that, despite promises at the highest levels to rectify the situation, they were unable to convert their profits in the local currency into USD.

Remittance Policies

Foreign investors cannot remit through the parallel market. By law they should remit through banks or foreign exchange bureaus.

South Sudan is not a member of the Financial Action Task Force (FATF).

3. Expropriation and Compensation

The Investment Promotion Act of 2009 prohibits nationalization of private enterprises unless the expropriation is in the national interest for a public purpose. However, the current law does not define the terms “national interest” or “public purpose.” Expropriation must be in accordance with due process and provide for fair and adequate compensation, which is ultimately determined by the local domestic courts. In 2015, there was no known government expropriation of foreign-owned property in the private sector. Government officials frequently pressure development partners to hand over assets at the end of programs. While some donor agreements call for the government to receive goods at the close of a project, assets have been seized by local government officials even in instances where they were not included in a formal agreement. Although officially denied, credible reports from humanitarian aid agencies indicate that money is routinely extorted at checkpoints manned by both government and opposition forces to allow the delivery of humanitarian aid throughout the country

4. Dispute Settlement

Legal System, Specialized Courts, Judicial Independence, Judgments of Foreign Courts

South Sudan acceded to the International Centre for the Settlement of Investment Disputes (ICSID Convention) in April 2012. However, the country lacks a dedicated legal framework for enforcing court judgments on commercial matters, and has emphasized criminal cases in the development of its judicial system.

The Judiciary of Southern Sudan, or JOSS, is a constitutionally mandated government branch that oversees the court systems of South Sudan. The Chief Justice of the Supreme Court of South Sudan is the head of the judiciary, and is held accountable by the President of South Sudan. South Sudan’s judicial system faces myriad challenges, including transitioning to a common law system and using English instead of Arabic in the courtroom. Other challenges include developing criminal courts, training judges, and improving attorneys. There are no dedicated commercial courts and no effective arbitration act for handling business disputes. The lack of official channels for businesses to resolve land or other contractual disagreements leads businesses to seek informal mediation, through private lawyers, tribal elders, law enforcement officials, or business organizations.

The lack of a unified, formal system encourages ‘forum shopping’ by businesses that are motivated to find the venue in which they can achieve an outcome most favorable to their interests. Many disputes are resolved informally. U.S. companies seeking to invest in South Sudan face a complex commercial environment with relatively weak enforcement of the law. While major U.S. and multinational companies may have enough leverage to extricate themselves from business disputes, medium-sized enterprises that are more natural counterparts to South Sudan’s fledgling business community will find themselves held to local rules.

Bankruptcy

Bankruptcy is covered by the Insolvency Act of 2011. As in many areas, enforcement and implementation of the law remains problematic. The country ranks 189 out of 189 in resolving insolvency according to the World Bank’s Doing Business rankings.

Investment Disputes

Post is not aware of investment disputes involving U.S. persons or other foreign investors.

International Arbitration

ICSID Convention and New York Convention

In April 2012, South Sudan became a member state to the International Centre for the Settlement of Investment Disputes (ICSID Convention). Currently South Sudan is not a signatory to the convention on the Recognition and Enforcement of Foreign Arbitral Awards (1958 New York Convention). There is no specific domestic legislation that enforces awards under the ICSID convention.

Duration of Dispute Resolution – Local Courts

There are no dedicated commercial courts and no effective arbitration act for handling business disputes. Enforcement of court decisions is weak or nonexistent.

5. Performance Requirements and Investment Incentives

WTO/TRIMS

South Sudan is not a member of the WTO.

Investment Incentives

Applications for investment incentives are made to the Ministry of Finance and Economic Planning through the One Stop Shop Investment Centre (OSSIC). Tax exemptions and concessions on machinery, equipment, capital and net profits are approved for stated periods by the Ministry of Finance, at its discretion. Financial incentives also include capital allowances, deductible annual allowances, and annual depreciation allowances.

South Sudan currently maintains political and trade agreements with the African Union, the European Union, and recently joined the East African Community (EAC). The Overseas Private Investment Corporation (OPIC) is open to doing business in South Sudan. The country has observer status in the Common Market for East and Southern Africa (COMESA).

The Investment Promotion Act provides for various tax incentives, including capital allowances ranging from 20 to 100 percent of eligible expenditures, deductible annual allowances ranging from 20 to 40 percent, and depreciation allowances ranging from 8 to 10 percent. Tax incentives and duty exemptions are requested through an application to the Ministry of Finance and Economic Planning. A foreign tax credit is granted to any resident company paying foreign taxes on income from business activities outside South Sudan.

Research and Development

There is no government funding available for subsidized research and development programs.

Performance Requirements

Government enforcement of existing labor laws was non-existent in 2015. Most small South Sudanese businesses operate in the informal economy, where labor laws and regulations are widely ignored. The Ministry of Labor is supposed to review all work permit applications in an attempt to determine whether a position could be filled by a South Sudanese national. Some foreign-owned companies reported long delays in receiving work permits for expatriate staff, and many expatriates are issued work permits for just one to three months, rather than the standard one year.

The Sudan Labor Act, 1997, was in force in South Sudan prior to the country’s independence in 2011, and is still being used. A new bill is being debated in the parliament. The draft law requires authorized labor officials/offices to approve or disapprove employment decisions. The legal and bureaucratic procedures stipulated in the draft law could constrain the flexibility of the labor market and efficient labor use, imposing extra costs and delays for employers, biasing them towards greater capital intensity and limiting productivity growth

In 2016 the government passed a law mandating employment procedures for non-governmental organizations (NGOs). The law dictates that 80 percent of NGO staff at all levels (managerial, mid-level, and junior staff) must be South Sudanese nationals.

Data Storage

There are no known requirements for foreign IT providers to turn over source code or provide access to surveillance. There are no known rules on maintaining a certain amount of data storage within the country.

6. Protection of Property Rights

Real Property

There was no progress in 2015 from the National Legislative Assembly (NLA) to approve a land policy to allow comprehensive land reform. Laws on mortgages, valuation, and the registration of titles have not been drafted.

While the 2009 Land Act and the 2009 Investment Promotion Act both state that non-citizens can access land for investment purposes, clear regulations governing how a business acquires land were not available in 2015. Currently, some businesses lease land from the government, while others lease land directly from local communities and or individuals. Under the Land Act, investment in land acquired from local communities must contribute economically and socially to the development of the local community. Businesses will often sign a memorandum of understanding with the local communities in which they agree to employ locals or invest in social services in exchange for use of the land. Land negotiations with communities often require several months or longer to complete. Ownership of land is often unclear, with communities and government both claiming the same property. In some cases, multiple individuals hold registration certificates demonstrating sole ownership of the same piece of land. South Sudan ranks 180 out of 187 countries in registering property in the World Bank’s Doing Business Report (http://www.doingbusiness.org/rankings).

Intellectual Property Rights

While the investment law includes an article on the protection of intellectual property rights, implementing legislation on trademarks, copyrights, and patents has not yet been passed. To date the only intellectual property law which has been put forward to the legislature is the Trade Marks Bill of 2013. South Sudan is neither a member of, nor an observer to, the WTO, nor is it a member of WIPO. While the legal structure is weak and enforcement lax, instances of intellectual property theft are rare. For additional information about treaty obligations and points of contact at local IP offices, please see WIPO’s country profiles at http://www.wipo.int/directory/en/.

Resources for Rights Holders

For a list of local lawyers, see: http://photos.state.gov/libraries/juba/895/pdf/Lawyers.pdf
Embassy POC: Thomas Griffith – griffithte@state.gov

7. Transparency of the Regulatory System

The private sector is governed by a mix of laws from Sudan, the pre-independence semi-autonomous Government of Southern Sudan, and since 2011, the Government of South Sudan. The National Legislative Assembly (NLA) passed laws to improve the transparency of the regulatory system, including the 2012 Companies Act and the 2012 Banking Act, however enforcement regulations are still lacking and there is little transparency. The government does not consult with the public about proposed regulations and the information is not widely published. Several key pieces of legislation governing customs, imports and exports, leasing and mortgaging, procurement, and labor have not been approved by the government and are needed to improve the business environment in South Sudan.

8. Efficient Capital Markets and Portfolio Investment

South Sudan’s financial system offers few financial products. It is difficult for foreign investors to get credit on the local market due to the shortage of hard currency, the lack of accurate means of obtaining reliable figures or audited accounts, the absence of a credit reference bureau, and South Sudan’s failure to document land ownership properly. According to the World Bank, 50 percent of all South Sudanese firms cite access to finance as a constraint.

Banks are unwilling to lend due to the lack of adequate laws to protect lenders and difficulties related to personal identification. After the Bank of South Sudan confiscated commercial banks’ reserves on deposit at the central bank in autumn 2015, diverting them to the use of the government, companies and individuals had difficulty accessing their funds. This has made depositors reluctant to trust their funds to the banking system.

Money and Banking System, Hostile Takeovers

The IMF has categorized South Sudan’s financial sector as small and undeveloped. There is limited information to assess the health of this sector. The Bank of South Sudan is the country’s central bank.

9. Competition from State-Owned Enterprises

The national oil company – Nilepet - remains the only State-owned enterprise (SOE) in South Sudan. It is the technical and operational branch of the Ministry of Mining and Petroleum. Nilepet took over Sudan’s national oil company’s shares in six exploration and petroleum sharing agreements in South Sudan at the time of the country’s independence in 2011. Nilepet also distributes petroleum products in South Sudan.

The Petroleum Revenue Management Bill, which governs how Nilepet’s profits are invested, was enacted into law in 2013, however, the company has yet to release any information on its activities, even though the law states that comprehensive, audited reports on the company's finances must be made publicly available.

Domestic private businesses are often partially-owned by government or military officials, many of whom have partnered with foreigners incorporating a company. The only foreign businesses that must be part-owned by South Sudanese are in security-related areas. Foreign companies benefit from much lower fees than do domestic companies for certain services related to starting up a business. Companies owned in part or in full by government or military officials are reportedly more likely to win government contracts, regardless of the quality or price associated with a bid.

OECD Guidelines on Corporate Governance of SOEs

The government is not transparent about how it exercises ownership or control of Nilepet. Its director reports to the Minister of Petroleum and Mining. Nilepet’s revenues and expenditures are not disclosed in the central government budget. No audited accounts of Nilepet are publicly available.

Sovereign Wealth Funds

The Petroleum Revenue Management Law 2013 created a sovereign wealth fund (SWF) to set aside surplus profits from oil sales. The law established the Oil Revenue Stabilization Account to act as a buffer against volatility in oil prices and the Future Generations Fund to set aside some funds for future generations. The law is in line with the Transitional Constitution of South Sudan which states that the ownership of petroleum and gas shall be vested in the people of South Sudan and shall be developed and managed by the national government on behalf of, and for the benefit of, the people. The SWF is supposed to distribute 15 percent of oil profits into the Oil Revenue Stabilization Account and 10 percent to the Future Generations Fund. To date, however, neither has received any financing.

10. Responsible Business Conduct

The idea of responsible business conduct is new in South Sudan, and there is little awareness of standards in this area. The few large international firms operating in South Sudan sometimes offer some basic benefits to local communities, but on an irregular basis. The 2009 Land Act requires investment activities carried out on land acquired from local communities to “reflect an important interest for the community or people living in the locality,” and to contribute economically and socially. There are complaints in the media about the number of foreign-owned companies and the lack of hiring of South Sudanese employees. International observers have argued that many of the oil producing companies do not practice responsible behavior in regard to environmental damage in the oil fields.

The government does not participate in the Extractive Industries Transparency Initiative (EITI) and while the law requires the disclosure of payments made to the government in regard to oil sales, in reality disclosure is weak or nonexistent.

11. Political Violence

Although the government and diverse opposition forces concluded a peace agreement in August 2015 to stop the conflict that broke out in December 2013, fighting continues in parts of the country. The effects of the war on the economy and investment will be evident for some time.

South Sudan has over 1.6 million Internally Displaced Persons (IDPs) and the government has not yet developed the conditions that would allow the IDPs to safely return home. Political opposition leaders faced illegal detention and travel restrictions in 2015. The government has temporarily shut down several newspapers and detained journalists it accused of printing articles opposing policies or actions undertaken by the government.

Violence has resulted in damage to installations in one of the major oil producing areas in the country, shutting down production in that region.

12. Corruption

Corruption in South Sudan is entrenched, widespread and undermines the development and stability of the state. South Sudan has laws, regulations, and penalties to combat corruption, but there is a lack of enforcement and considerable gaps exist in legislation. There are, for example, no laws that prevent conflict of interest in government procurement.

The South Sudan Anti-Corruption Committee (SSACC) was established in accordance with the 2005 Constitution and the 2009 SSACC Act. The five commission members and chairperson are appointed by the President with approval by a simple majority in the parliament. The commission is tasked with protecting public property, investigating corruption, and submitting evidence to the Ministry of Justice for necessary action. In addition, the commission combats administrative malpractices in public institutions, such as nepotism, favoritism, tribalism, sectionalism, gender discrimination, bribery, embezzlement, and sexual harassment.

In reality, the SSACC has no capacity to address state corruption as it can only relay its findings to the Ministry of Justice for prosecution. Post is not aware of any significant anti-corruption case being investigated or prosecuted in 2015.

South Sudan is a member of the United Nations Conference on Trade and Development (UNCTAD), and the International Centre for Settlement of Investment Dispute (ICSID) convention entered into force for South Sudan on May 18, 2012. The country is not reported to be a participant in regional anti-corruption initiatives.

UN Anticorruption Convention, OECD Convention on Combatting Bribery

South Sudan acceded to the United Nations Convention against Corruption in January 2015, but has not yet ratified it. The country is not a party to the OECD Convention on Combating Bribery of Foreign Public Officials in International Business Transactions.

Resources to Report Corruption

Honorable Christina Henry Jade
Commissioner
South Sudan Anti-Corruption Commission
P.O Box 312
Juba, South Sudan
ckejius@yahoo.com

13. Bilateral Investment Agreements

Bilateral Taxation Treaties

South Sudan does not have a bilateral investment or taxation treaty with the United States.

14. OPIC and Other Investment Insurance Programs

The Overseas Private Investment Corporation (OPIC) has been open to business in South Sudan since 2012. South Sudan ratified its Investment Incentive Agreement (IIA) with OPIC in 2013. South Sudan is a member country of the Multilateral Investment Guarantee Agency. South Sudan maintained a fixed exchange rate for the South Sudanese Pound until December 2015 when it moved to a floating exchange rate. Since then, the local currency has depreciated significantly due to deficit spending by the government, money printing, and a lack of hard currency. The current official exchange rate can be found at https://bosshq.net/; the parallel rate, however, may be appreciably different.

15. Labor

South Sudan has a shortage of both skilled and unskilled workers across most areas in the formal sector. According to the 2008 census, 84 percent of those employed are in non-wage work. Unskilled labor in the service and construction sectors is often performed by immigrants from neighboring companies. The country has not passed a national labor law. South Sudan continues to operate under the 1997 Labor Act of (the Republic of) Sudan. Under that act, independent unions are permitted. The law is silent on the right to strike and bargain collectively, and does not explicitly prohibit anti-union discrimination or provide for reinstatement of workers fired for union activities. Three out of five children joined the labor force by age 10, largely through cattle herding or subsistence farming. Cattle are included on both the U.S. government's Executive Order 13126 List of Goods Produced by Forced and Indentured Child Labor, and List of Goods Produced by Child Labor or Forced Labor. South Sudan, supported by UN, signed a recommitment agreement in 2014 and created a work plan to end the recruitment and use of Child Soldiers.

Government enforcement of existing labor laws was absent in 2015. Most small South Sudanese businesses operate in the informal economy, where labor laws and regulations are widely ignored. The Ministry of Labor thoroughly reviews all work permit applications in an attempt to determine whether a position could be filled by a South Sudanese national. Some foreign-owned companies reported long delays in receiving work permits for expatriate staff, and many expatriates are issued work permits for just one to three months, rather than the standard one year.

16. Foreign Trade Zones/Free Ports/Trade Facilitation

There are currently no duty-free import zones in South Sudan.

17. Foreign Direct Investment and Foreign Portfolio Investment Statistics

Table 2: Key Macroeconomic Data, U.S. FDI in Host Country/Economy

	Host Country Statistical source		USG or international statistical source		USG or International Source of Data: BEA; IMF; Eurostat; UNCTAD, Other
Economic Data	Year	Amount	Year	Amount
Host Country Gross Domestic Product (GDP) ($M USD)	NA	NA	2014	$13.28B	www.worldbank.org/en/country
Foreign Direct Investment	Host Country Statistical source		USG or international statistical source		USG or international Source of data: BEA; IMF; Eurostat; UNCTAD, Other
U.S. FDI in partner country ($M USD, stock positions)	NA	NA	NA	NA	http://bea.gov/international/direct_investment_ multinational_companies_comprehensive_data.htm
Host country’s FDI in the United States ($M USD, stock positions)	NA	NA	NA	NA	http://bea.gov/international/direct_investment_ multinational_companies_comprehensive_data.htm
Total inbound stock of FDI as % host GDP	NA	NA	NA	NA	NA

Table 3: Sources and Destination of FDI

There are no current statistics available on Foreign Direct Investment into South Sudan. The bulk of foreign investment is in the petroleum sector. Major shareholders in the joint operating companies operating in active oil fields include the Chinese National Petroleum Company (CNPC), the Malaysian parastatal PETRONAS, and the India-owned Oil and Natural Gas Corporation (ONGC).

SABMiller from South Africa was a mainstay of the non-oil economy through its brewery, South Sudan Brewery Limited. An inability to get the hard currency necessary to purchase raw materials, however, has caused the brewery to halt production. The company is in the process of mothballing the facility. Much of South Sudan’s small-scale commerce and hotel industry is foreign-owned.

Table 4: Sources of Portfolio Investment

Portfolio investment statistics are not available for South Sudan

18. Contact for More Information

U.S. Embassy Juba’s switchboard telephone number is 1-202-216-6279
Primary POC – Tom Griffith, Economic Officer – griffithte@state.gov
Alternate POC – David Wyche, Economic Chief – wychedl@state.gov

ecoi.net description:: Annual report on investment climate, incl. information on legal and regulatory system, political violence, corruption, labour and economic issues, etc. (as of March 2016)

Country:: South Sudan
Source:: USDOS – US Department of State (Author)
Published:: 5 July 2016
Original link:: http://www.state.gov/e/eb/rls/othr/ics/2016/af/254247.htm
Document type:: Periodical Report
Language:: English
Document ID:: 1055108 (former ID 332433)