Connect with us

Hi, what are you looking for?

Tunisian Flag/AFP


Foreign investors urged to join Tunisia democratic ‘startup’

Tunisian Flag/AFP

Tunisian Flag/AFP

TUNIS, September 8 – Tunisia on Monday urged foreign investment in its democratic “startup”, three years after the country set the ball rolling on the Arab Spring uprisings that swept away longtime dictators.

“To invest in Tunisia, in this startup, is to invest in democracy,” Prime Minister Mehdi Jomaa told an international investment conference in Tunis.

His visiting French counterpart, Manuel Valls, backed the appeal.

“At a time when chaos threatens Libya, when barbarity is rampant in Iraq and Syria, Tunisia needs all our support to continue on the path of democracy,” he told participants.

Tunisia was to inform representatives of around 30 countries, 20 international institutions and dozens of private companies on 22 major projects costing 12 billion dinars (more than 5 billion euros, $6.5 billion).

The construction of a deep-water port in Enfidha, south of the capital, and a dam in northwest Tunisia figure among the projects.

Tunisian authorities say the main goal of the conference is to restore investor confidence through the government’s “strategic vision” of structural economic reforms.

“We forgot about the economy over the past three years but the economy did not forget us,” said Jomaa, referring to instability, political crisis and social unrest since Tunisia’s 2011 revolution.

Tunisia’s growth rate for the first half of 2014 fell to 2.1 percent, lower than for the same period of last year and not enough to absorb growing unemployment in a cash strapped country.

Authorities vaunt the “success” of Tunisia’s political transition, pointing to the adoption of a constitution and a “national dialogue”, following political assassinations and attacks on security forces which rocked the country last year.

Advertisement. Scroll to continue reading.

A government of technocrats has been running Tunisia since January, ahead of legislative and presidential elections in October and November.

Click to comment

More on Capital Business

Executive Lifestyle

NAIROBI, Kenya, Mar 12 – The country’s super wealthy individuals are increasing their holding of bonds, gold and cash, a new report by Knight...

Ask Kirubi

NAIROBI, Kenya, Mar 9 – Businessman and industrialist Dr. Chris Kirubi has urged members of the public to exercise extreme caution when making any...

Ask Kirubi

NAIROBI, Kenya, Mar 24 – Businessman and industrialist Dr. Chris Kirubi is set to own half of Centum Investment Company PLC, following a go-ahead...

Ask Kirubi

It is without a doubt that the COVID-19 pandemic has caught the whole world by surprise. Although its full impact is yet to be...


NAIROBI, Kenya, Jun17 – Kenya’s tea leaves manufacturer Kericho Gold, has been awarded the Superbrands Seal by Superbrands East Africa for their quality variety...


NAIROBI, Kenya, Mar 18 – Commercial Banks have been ordered to provide relief to borrowers on their personal loans, with loans eligible from March...


NAIROBI, Kenya, Apr 13 – As the local telecommunications industry gears up to roll out 5G networks in the country, the Communications Authority of...


NAIROBI, Kenya, Mar 22 – Airtel Kenya is offering free internet access for students in order to enable continued learning at home in the...