32.8 C
Tunisia
Monday 26 July 2021
HomeNewsTunisia: foreign investment up 30.2% in Q1

Tunisia: foreign investment up 30.2% in Q1

Foreign investment made by the end of the first quarter of 2012 increased by 30.2%, totaling 440.6 million Tunisian dinars (MTD), compared to the same period of 2011, according to latest statistics released by the Foreign Investment Promotion Agency (FIPA).

Foreign investment fell by 7.4%, compared to the same period of 2010 (475.6 MTD).

From January to March 2012, 24 new companies have begun production and 70 expansion operations have been conducted, which led to the creation of 1,792 new job positions (15.8% compared to the number of jobs created during the same period in 2011).

Foreign investments are allocated to the tune of 412.5 MTD to FDI (Foreign Direct Investment) and 28.1 MTD to portfolio, against 321.4 MTD and 17.1 MTD, respectively, during the first quarter of 2011.

Compared to last year, the FDI inflows rose 28.3% but fell -9.7% compared to 2010.

The analysis of FDI flows by sector reveals a concentration on the energy and manufacturing industries, with respective values of about 250 MTD and 93.8 MTD.

According to FIPA, “slowdown of the pace of implementing projects identified in March was due, primarily, to strikes and social grievances.”

This resulted in “either the postponement or cancellation of projects by investors”.

In addition, the Agency states that “strikes in some departments in charge of logistical facilities (ports, authorization administration), in connection with the movement of goods to export or reception at import, caused a delay in time, in both directions, which resulted in additional costs to the company, a phenomenon that has discouraged both active firms and projects in progress.”

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisement -

MOST POPULAR

HOT NEWS