Tunisia is steadily positioning itself as an appealing destination for foreign direct investment (FDI), with several international companies establishing new projects—though perhaps not in the numbers once hoped for.
Nonetheless, these investments have given a significant boost to international capital flows. By the close of the first half of 2024, FDI had reached TND 1,388.9 million, according to a mid-August report by FIPA Tunisia.
This figure reflects notable growth compared to previous years, showing a +13.8% increase over 2023, a +34.2% rise from 2022, and a +42.0% jump since 2021.
The bulk of this FDI—TND 1,057.2 million—came from non-energy sectors, with 610 projects initiated during the first half of 2024. These ventures are expected to create 4,820 new jobs in Tunisia’s expanding economy.
Among these projects, startups accounted for 34 investments (6%) valued at TND 77.2 million, resulting in 783 new jobs. Meanwhile, 576 projects (94%) were linked to business expansions, attracting TND 980.0 million in investments and generating 4,037 jobs.
France remains Tunisia’s largest FDI contributor, providing TND 344.2 million—over 32% of total FDI excluding the energy sector. Italy follows with TND 141.3 million, while Germany, Spain, and Qatar complete the top five with contributions of TND 115.3 million, TND 79.6 million, and TND 72.5 million, respectively.
Yura Corporation: A Strategic Expansion
One of the most significant projects underway is the expansion of Yura Corporation, a South Korean firm specializing in automotive electrical and electronic components.
The company has announced plans to boost its workforce in Tunisia by 6,000 employees by 2026.
Yura, which has operated in Tunisia since 2007, already employs over 2,000 people in its Kairouan facilities. This latest expansion is set to enhance the production capacity of its three existing units, further cementing Tunisia’s role in the global automotive supply chain.
With a global presence spanning South Korea, China, Vietnam, Slovakia, Serbia, and Russia, Yura is a key supplier to major automakers, including Hyundai and Kia Motors.
This expansion is poised to strengthen Tunisia’s automotive components industry, a sector that already comprises more than 280 companies and employs over 95,000 people. The industry generates over €4.2 billion in revenue and accounts for more than 16% of Tunisia’s total exports.
Marquardt group’s continued commitment
In another milestone for Tunisia’s automotive sector, the German group Marquardt inaugurated its third manufacturing plant on September 25, 2024, in the NEOPARK El Fejja industrial park.
Specializing in electronic and electromagnetic components for leading global car manufacturers, the plant represents a TND 200 million investment and is expected to create over 1,000 jobs.
“This investment proves we are moving in the right direction,” said Tunisia’s Minister of Economy and Planning, highlighting the importance of partnerships with companies like Marquardt.
Germany is one of Tunisia’s most significant trading partners, with German firms having invested around €2.3 billion, creating more than 91,000 jobs across 310 companies.
Harald Marquardt, Chairman of the Group’s Board of Directors, expressed his enthusiasm for the expansion. “We’ve been in Tunisia for 33 years, and this is our third plant. We believe in this country and its people,” he remarked, underscoring the long-standing relationship with Tunisia and the high quality of the Tunisian workforce.
ETILOG’s new industrial unit
Further bolstering Tunisia’s industrial base, the European packaging systems leader ETILOG, a Swiss-based company, began construction of a new facility in Sbikha, Kairouan governorate, on October 9, 2024. This industrial unit, located in the Sbikha 2 industrial zone, spans one hectare and is expected to create 210 direct jobs in its initial phase.
With headquarters in Presov, Slovakia, and facilities in the Slovak Republic, ETILOG’s expansion into Tunisia aligns with the country’s growing appeal as a hub for industrial innovation.
