Foreign investments in Tunisia dip by almost 30%
Foreign investments in Tunisia slid 29.2 percent in 2011 from a year earlier, stated the Foreign Investment Promotion Agency.
Tunisia attracted $1.180 billion in investments in 2011 compared to $1.667 billion in 2010 as investments fell sharply in almost all sectors. Tourism, industrial activities and energy sectors saw a decline of 80 percent, 42.4 percent and 30 percent, respectively.
This drop in foreign investment was clearly sparked by the revolution, as well as the post-revolution period when security and political stability were lacking. 182 foreign firms, which employed 15 thousand workers, shut down.
In 2011, the number of active foreign firms in Tunisia reached 3,102, among which 2,479 were involved in industrial activities, 332 in services, 148 in tourism, 81 in agriculture and 62 in energy.
However, the Foreign Investment Promotion Agency expects to reclaim the lost investments in 2012 and aims at attracting $1.555 billion provided that the government works on improving business climate and security conditions.
Post-revolution Tunisia is in the spotlight for foreign investors, particularly from the US, Scandinavia, and Gulf countries, said the FIPA. It added that Tunisia should take advantage of this international sympathy along with launching promotional campaigns abroad to attract as much foreign investment as possible. (Source: english.nuqudy.com)