Thursday, 13 June 2013

    TUNIS (TAP) - The Tunisia Investment Forum (TIF 2013) placed under the theme "New Tunisia: Towards a New Sustainable Investment Strategy," was opened Thursday in Gammarth (northern suburbs) by Interim Prime Minister Ali Larayedh.

    TIF, launched by the Foreign Investment Promotion Agency (FIPA) in June 2011, brings together each year an elite of businessmen and high-level officials and decision-makers, representatives of international organisations and experts to take stock of the investment environment in Tunisia and opportunities offered by the country in different areas.

    The government is carrying out a set of reforms to improve the investment climate by easing administrative procedures, developing infrastructure and adapting the training system to the labour market while finishing off the framework law regulating partnership between the public and private sectors, Mr. Larayedh said at the opening of the forum.

    The PM underlined that Tunisia seeks to mobilise 3,000 million Tunisian dinars (MTD) under foreign direct investment (FDI) at a time when the social climate is gradually improving and as the government has taken urgent measures to revive the national economy.

    He also said that several structural reforms incurred by the State will be implemented which will allow for a better flow of FDI to Tunisia.

    In his address, Ahmed Mohamed Al-Madani, President of the Islamic Development Bank (IDB) Group reminded of the agreement signed on Thursday between the IDB and the Tunisian government to establish a strategic partnership that will run for the period between 2013 and 2015 with an investment of 1.2 billion dollars.

    This partnership will target three main areas, namely reducing regional disparities, boosting partnership with the Arab countries and encouraging technological transfer between Tunisia and IDB member countries.

    "Tunisia has received an overall amount of 3.5 billion dollars under funding from the IDB since its creation in 1974.

    "The bank plans to create a bank for the development of SMEs whose main goal will be to support young developers and attract new investors," he announced.

    Phil Bennett, First Vice President of the European Bank for Reconstruction and Development (EBRD), said the bank will allocate a budget of 2.5 billion Euros per year starting from 2015 to finance its interventions in Tunisia, Egypt, Jordan and Morocco. These funds will go to sustainable development projects, he added.

    Bennett also underlined that the EBRD mobilises each year an overall investment of 9 billion Euros, saying each invested Euro will generate 2 Euros mobilised by the private sector.

    Mrs. Wendy R. Sherman, US Under-Secretary of State for Political Affairs announced that an investment fund will be created shortly in Tunisia to encourage young people to set up their own businesses.

    This fund will have a budget of 52 million dollars in credit capitals in addition to an amount of 50 million dollars under guarantee placed in Tunisian banks.

    The Tunisia Investment Forum hosted, on Thursday afternoon, the "Deauville Partnership Symposium for Investment," initiated by the Islamic Development Bank group, on behalf of international financial institutions (IfIs), members of the Deauville Partnership which was held in camera.

    TIF works will focus on the new investment code, the legislative and structural reforms to boost FDI in Tunisia, the new opportunities for high added value sectors and business prospects in Tunisia, according to investors.

    A case study: "Tunisia, a preferred destination for foreign direct investment," will be discussed during this forum. Multi-sectoral meetings are also on the agenda.

    FIPA has scheduled 500 business meetings in TIF 2013.

    It has handed 7 Awards of TIF to foreign companies based in Tunisia, in recognition of their positive contribution to strengthening partnership and their commitment to sustainable economic development in Tunisia.

    © Tunis-Afrique Presse 2013