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Roundup: Tunisia 2020 represents a new momentum for economy

Xinhua, December 2, 2016 Adjust font size:

Tunisian economy managed to mobilize about 14 billion U.S. dollars after the closure of Tunisia 2020, the International Investment Conference late Wednesday.

At a press conference after the closing ceremony, Tunisian Prime Minister Youssef Chahed announced that this includes over 6.5 billion dollars from agreements already signed during the two days of the event, and 8.2 billion dollars in form of investment promised.

During the last two days, the Tunisian capital has welcomed 4,500 guests from 70 countries to participate in this event.

The French delegation, led by the Prime Minister Manuel Valls, reflected the country's interest in strengthening its leadership as Tunisia's first economic partner, reported some French observers and media.

The European Union, the major commercial market of Tunisia, has confirmed a donation of 215 million dollars, in addition to an agreement signed with the European Investment Bank worth 2.9 billion dollars.

As one of the sponsors of Tunisia 2020, Qatar signed agreements with Tunisia amounting to 1.1 billion dollars, while Saudi Arabia inked agreements worth 700 million dollars.

Tunisian Minister of Investment and International Cooperation, Fadhel Abdelkafi, said that one of the good surprises that marked the conference is the resettlement of the Regional Office of the North Africa Zone of the African Development Bank (ADB) in Tunis.

The resettlement cost several months of negotiations, representing a good improvement for the Tunisia economy, said local and foreign experts.

The ADB has also signed with Tunisian government agreements worth 133 million dollars in addition to 600 million dollars in the form of promised investment.

Moreover, a large Chinese delegation also attended the conference to share this investment opportunity, which "proves the conscience and even the willingness of China to take full advantage of the potential in Tunisia," said Mourad Fradi, the general co-curator of the conference.

Tunisia will be more open to its regional and global economic environment, with projects by multinational Chinese companies in infrastructures, railways and services, Fradi said.

The First Vice-President of the Tunisian Union of Industry, Trade and Handicraft, Hichem Elloumi, said that Tunisia hopes that the Chinese investment would increase due to the competence and good reputation of Chinese companies abroad.

Foreign investment is essential, experts said, accepting the fact that general economic situation has been not sufficiently reassured in Tunisia since 2011.

Figures show that foreign direct investment declined 19.4 percent in the first nine months of 2016 year on year.

The private investment has also fallen, said Tunisian economist Mr. Moez Joudi, head of the Tunisian Association of Governance.

Tunisia is working "to restore the confidence of foreign investors and to promote political, logistical, security and administrative climates," he said, adding that cooperation will not be limited to traditional partners.

Chahed said that his country has presented to the world "a brand new image" of a country that has succeeded in its transition process. Endit