Tunis: The 21st edition of the Tunisia Investment Forum (TIF) started, on Wednesday afternoon in Gammarth (Northern Suburb of Tunis), with the participation of more than 800 Tunisian investors and foreigners representing thirty countries.
The forum, which will run until June 13 under the theme “Tunisia, Where Sustainability Rhymes with Opportunity,” is organised by the Foreign Investment Promotion Agency (FIPA Tunisia) in partnership with the European Union (EU).
This edition will shed light on the innovation and sustainable investment potential of the Tunisian economy and focus on four sectors with high added value; namely the automotive components, pharmaceutical products, renewable energy, startups and Diaspora.
The 2024 edition of the TIF will represent an opportunity to present the reforms implemented and being prepared by the Tunisian government in order to revitalise the national economy, boost investment and improve the business climate as part of the national reform programme.
It will also highli
ght the competitive advantages Tunisia offers as a destination and strategic platform for investment and win-win partnership, particularly in promising sectors with high added value.
According to the organisers, this new edition will be an opportunity to reiterate the relevance, vivacity and depth of Tunisia’s partnership with the EU, its Member States, their technical and financial cooperation agencies as well as with the multilateral development banks EIB and EBRD.
Foreign investments in Tunisia reached TND 2,522.3 million in 2023, an increase of 13.5% compared to 2022, according to figures provided by the FIPA.
During the first quarter of 2024, foreign direct investments in Tunisia went up by 18%. They amounted to TND 517.4 million compared to TND 438.3 million in the same period of the previous year, an increase of 45.3% compared to 2022 and 49.8% compared to 2021, according to the same source.
The sectoral distribution of FDI shows an increase in the value of investments in the manufacturing industri
es sector to TND 250.5 million at the end of March 2024, compared to TND 234.6 million in 2023, up 6.8%.
During this period, the lion’s share went to the energy sector reaching with TND 176.9 million against TND 116.9 million in 2023, thus posting an increase of 51.3%.
The service sector attracted investments worth TND 84.5 million against TND 52.8 million in 2023, recording an increase of 60.1%. The agricultural sector posted a remarkable increase of 905.8%, going from TND 0.49 million at the end of March 2023 to TND 4.9, at the end of March 2024.
Source: Agence Tunis Afrique Presse