30.2 C
Tunisia
Friday 24 September 2021
HomeNewsTunisia: reported investments up 76% despite crisis (TIA)

Tunisia: reported investments up 76% despite crisis (TIA)

The overall number of reported investments in 2020 edged up 76% compared to 2019, despite the difficult situation and the economic recession caused by the health crisis, the Tunisia Investment Authority (TIA) said Thursday.

Actually, 58 projects with an overall investment budget of 2,818 million dinars were reported at the end of December, up 28% compared to the cumulated investments in 2019.

The reported projects will help generate 13,491 additional jobs, the same source said.

They cover operations of creation and extension shared out between 27 creation projects (62%) with an investment cost of 1989MD and 6727 expected jobs, and 22 extension projects (38%) with an investment cost of 829MD for 6,764 jobs to be created. 

These projects are broken down into the sectors of Industry (34 projects at a cost of 1688 MD and 9,813 jobs to be created), renewable energy (12 projects at a cost of 546 MD and 100 jobs), services (8 projects at a cost of 250 MD and 2,282 jobs) and Tourism (4 projects at a cost of 334 MD and 1,296 jobs). 

The breakdown of projects operating in the manufacturing industry sector posts a large share in the electrical and mechanical industries sector in terms of employment, with 57% of employment in the total sector and 24% in terms of investment.

As for the breakdown according to regions, the 58 reported investment projects cover 18 governorates with 26 projects in regional development areas that will be set up there for an amount of 1205.9 MD. They will thus help create 3,277 jobs.

The projects reported in regional development areas cover the industry sector (1003.93MD investment budget) and renewable energy (201.918MD).

21 out of all the 58 projects reported till December 31 operate within the totally exporting regime with an overall investments worth 1335 MD, while 37 projects were reported under other regimes with investments worth 1483MD. 

30 projects with foreign shareholding

38 among the investment projects reported in 2020 have foreign shareholding with a 2167MD investment cost, generating 10,705 jobs.

Germany is in the lead with 33% of the overall projects with foreign participation, followed by France (28%) and Spain and China (7%).

According to the TIA, the upward trend in investments recorded over the past year will be further confirmed by the expected landing of investment opportunities arising from the relocation movements announced by many international groups to cope with the fragmentation of their supply chains, particularly in the automotive, aeronautics, ICT, design, electric vehicles, 3D printing, electronics, etc.

Boasting a noteworthy potential thanks to the skills and qualification of its human resources and its strategic positioning, Tunisia could position itself as a Near-shore partner of its neighbors on the right bank of the Mediterranean to conquer the African market.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisement -

MOST POPULAR

HOT NEWS