Tunisie is a North African country with a unique blend of cultures, geography, and history. This nation has made some significant advancements in the business sectors in recent times. As a business enthusiast, keeping track of the latest news on Tunisie will help you make informed decisions, gain insights, and seize the opportunities available. Here are the top five business news from Tunisie that you just can’t miss!
1. Tunisia’s entry into the International Energy Forum
In February 2021, Tunisie joined the International Energy Forum (IEF) as a full member. This move makes Tunisia the first African country to join IEF, a non-profit organization that focuses on promoting dialogue, cooperation, and knowledge sharing among energy producing and consuming nations. This partnership presents an opportunity for Tunisie to capitalize on its oil and gas reserves, diversify its energy sources, and reduce its dependence on imported energy.
2. Increased investment in renewable energy
Tunisie’s National Energy Transition Plan (2016-2030) aims to increase the country’s use of renewable energy to 30% by 2030. To achieve this target, the government has implemented several policies and initiatives to attract private investment in the renewable energy sector. In 2020, Tunisie launched a national tender for the development of 500 MW of renewable energy projects, including 300 MW of solar, 200 MW of wind, and 50 MW of other sources. The successful bidders will sign 20-year power purchase agreements with the state utility company, Societe Tunisienne de l’Electricite et du Gaz (STEG).
3. Launch of Tunisia Investment Forum (TIF)
TIF is an annual event that aims to promote Tunisie as a business-friendly destination and showcase the country’s investment opportunities. The first edition took place in June 2021 and attracted over 1,000 participants, including foreign investors, policymakers, and business leaders. The forum featured keynote speeches, panel discussions, and over 600 one-to-one meetings between investors and Tunisian project holders. TIF is a platform for Tunisie to position itself as a hub for innovation, technology, and entrepreneurship.
4. The Impact of COVID-19 on Tunisian Economy
As with other countries, the Tunisian economy was negatively affected by the COVID-19 pandemic. The country’s GDP contracted by 8.8% in 2020, and unemployment increased to 18%. However, there were some positive developments in some sectors, including e-commerce, fintech, and food delivery services. The government implemented several measures to support businesses and households, such as suspending loan repayments, providing financial assistance to small and medium-sized enterprises (SMEs), and distributing food aid.
5. Tunisia and the EU – Deepening Economic Ties
Tunisie is a member of the European Neighborhood Policy (ENP), which aims to foster closer political and economic relations between the EU and its neighbors. The EU is Tunisie’s main trading partner, accounting for over 70% of its external trade. In June 2021, Tunisie and the EU held their seventh Association Council meeting to review the ENP and discuss ways to enhance cooperation in various areas, including energy, infrastructure, and digital transformation. The EU also pledged to provide financial and technical support to Tunisia’s public and private sectors.
In conclusion, staying up-to-date with Tunisie’s business news is essential for anyone with an interest in the country’s economic development. From increased investment in renewable energy to joining the International Energy Forum, Tunisia’s business landscape is continuously evolving. By understanding the latest trends and opportunities, you can make informed decisions and capitalize on the many exciting developments taking place in this dynamic country.
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