The adoption of the Public-Private Partnership (PPP) Law, the implementation of economic reforms and the improvement of the business climate remain the main demands of national investors and international donors who want operate in Tunisia.
After the IMF it is the turn of the World Bank to request action from the Tunisian government to accelerate the launch of the reforms and alleviate the financial burden, which is the condition to pick up and regain the confidence of local and foreign investors.
This was the main request of the International Finance Corporation (IFC), represented by its Regional Director for the MENA region.
“We will not let Tunisia go (…) We will not stop investing (…) IFC is willing to help Tunisia with all means,” IFC Regional Director for the MENA region, Mouayed Makhlouf said in an exclusive interview with AfricanManager, adding that the institution’s objectives in the MENA region and in Tunisia are mainly development rather than investment.
He also pointed out that Tunisia is part of the IFC, or even the World Bank and that the aim of the Fund is to help the country out of its economic crisis, accelerate reforms, boost foreign investment and improve the business climate.
He noted that the IFC invests annually in Tunisia between $ 300 and $ 500 million.
The official has, on another hand, called on the government to accelerate reforms to improve the business climate and put the economy in motion, pointing out that Tunisia is today facing several difficulties, mainly the establishment of economic reforms. He warned against the non-acceleration of reforms and its impact on the Tunisian economy.
In a message to the Tunisian Parliament and citizen, Mouayed Makhlouf pointed out that the Tunisian government cannot bear the financial burden and that the country’s parliament and the citizens are called to understand the actions of the government in terms of economic reforms.
“We must initiate reforms to revive the economy and preserve jobs,” he said.
Asked about the business climate in Tunisia, the IFC Regional Director for the MENA region said the current framework is not enough and that economic reforms are still needed to attract foreign investors, he said.
He, however, regretted the delay in adopting the law on the PPP, holding the government responsible. The government should improve the business climate and make it favorable to national and international investments, “he pointed out.
Although this was defended by the Prime Minister, the law on the PPP is still slow to emerge,” said Mouayed Makhlouf, noting that “foreign investors are still interested in
Tunisia, but it is necessary to accelerate the implementation of the PPP law to attract big investors, “he added.
This view is shared by Georges Joseph Ghorra, IFC’s Resident Representative in Tunisia, who called in a recent statement to AfricanManager, to improve the business environment that is now a major handicap for foreign investment, according to him.
However, he assured that the Tunisian state is already working with the IFC and the World Bank to see how to reduce the required authorizations to investors which number currently stands at 350.
“This will encourage investors to invest more in Tunisia and reduce waiting times, “he said.
