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Tunisia 2020 seeks to reverse foreign capital investment flight


economy

Tunisia 2020 seeks to reverse foreign capital investment flight

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Tunisia 2020, which runs until Wednesday evening, brings together 1000 participants from 70 countries for an international investment conference. The World Bank, and European and African investment banks are present as the country tries to reverse declines in foreign investment since the 2011 revolution.

“Tunisia has an advanced infrastructure, and a competent and open economy, which is integrated in the global market. This qualifies it to become a real destination for investments and exports in the European, Arab, and African markets,” said Tunisian President Beji Caid Essebsi.

Unemployment is at nearly 16% with double that in parts of the poorer interior, with inflation near 4%, and the government is pitching projects worth 28.2 billion euros at foreign investors. While short-term loans and cash have been supplied by main backers France, Qatar and Kuwait, longer-term investments are needed to kickstart economic growth.

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