He pointed out that the banking sector’s contribution to the national economy recorded a 11.8-percent rise, and that the sector’s financing of projects reached 3 billion dinars, i.e. a 40-percent increase when compared with 2007.

The coverage rate of classified debts was brought down to 15.2% of the sector’s total commitments. The coverage of classified debts by savings stands at 57.7%, compared with 44.1% in 2003.

The Prime Minister said that the banking sector’s efforts, during the last decade, to preserve its balances had had positive effects on the national economy’s general balances. This resulted notably in bringing down by 13 percentage points the indebtedness rate, which fell from 52%, between 1996 and 2004, to 39% of the GDP during the 2004-2008 period. Tunisia also managed to score an annual growth of 5.2% during the last decade.

First Maghreb Businessmen’s Forum: taking initiatives to favour emergence of great Maghreb economic pole

The first two-day Maghreb Businessmen’s Forum Sunday opened works.

The forum, attended by some 700 economic operators from Tunisia, Algeria, Morocco, Libya and Mauritania, will focus on such subjects as “The World Economic Crisis and Means to Cope With It,” “Partnership Programmes and Maghreb Projects, “ “World Experiences in Matters of Free-Trade “ and “ Maghreb Approaches in Matters of Integration.”

Tunisia’s Industry, Trade and Handicrafts Union president Hedi Djilani, who also heads the Maghreb Businessmen’s Union, said at the opening works that this forum testifies to the conviction of Maghreb economic operators that the Maghreb economic integration has become a vital necessity.

He also said that inter-Maghreb trade exchanges remain below expectations and that the establishment of a propitious framework for integration requires the achievement of joint ventures to involve an area that numbers 100 million consumers. 

Tunisian-British Friendship Association holds seminar on "Energy Efficiency"

The Tunisian-British Friendship Association held, on Monday in Gammarth, a seminar on "Energy Efficiency," as part of the celebration of the Energy Month in Tunisia.

Chairing this seminar, Mr. Mohamed Sakhr Matri, President of the Tunisian-British Friendship Association said this event aims essentially to encourage British companies to invest in Tunisia, particularly in energy.

It also seeks to further entrench the culture of energy saving among Tunisians and make the most of incentives set up by the State to encourage the use of renewable energy.

Opening this seminar, Secretary of State in charge of Renewable Energy and Food Industries Abdelaziz Rassaa said Tunisia is ranked among pioneering countries in matters of energy management and announced the launching of the new programme "Prosol" in the electricity sector, after the remarkable results achieved by the "Prosol" thermal programme (solar water-heating).

For his part, Mr. Ben Aissa Ayadi, Director General of the National Agency for Energy Management (ANME) reviewed programmes in place in Tunisia to achieve the energy efficiency targets sought- after. Among these programmes, Mr. Ayadi referred to the development of wind energy for power self-production in high energy-consuming firms to meet part of their electricity needs.

Major institutions involved in this programme are the cement plant of um Klil, of Bizerte, Jbel Ouest and Gabes, the Tunisian- Andalusian white cement company (SOTACIB), the steel company (El Fouledh) and the Gafsa Phosphates Company (CPG), he pointed out.

Taking the floor, representative of Shell Group Andreas Schaefer underlined that the main energy source for the next years will come essentially from fossil fuels. These sources of energy, he said, have several advantages in energy saving and environment protection.

April 2009

Forum on guidance of Tunisian young inventors

 A partnership agreement was signed, on Friday in Jemmel (governorate of Monastir), by the Tunisian Inventors' Association and the Chamber of commerce and industry of the central to guide the promoters of the higher education graduates and allow them to make the most of the services offered by the midland business centres.

Concluded as part of holding the second edition of the Forum Béchir Salem Belkhiria on the theme: « technological innovation, competitiveness of the enterprise », this agreement aims to boost the role of the adherent members of the chamber of commerce in matters of encouraging the central young inventors and create their own projects.

Chairing the forum, Secretary of state in charge of renewable energies and food industries Abdelaziz Rassaa placed emphasis on the need to optimise the use mechanisms set up by the state for the benefit of the Tunisian small-and medium-sized enterprises (SME), aiming at improving competitiveness of the industrial fabric and the achievement of the hoped for development targets. The communications presented as part of this forum turned on "innovation and competitiveness of the enterprise" and "financing of innovative projects". The event provided the opportunity to make better known incentives and mechanisms that Tunisia instituted for the benefit of youths, in particular the promoters of innovative projects of strong added value. Among the mechanisms created, it is worth citing the creation of the company of assistance and management of spin-off funds (SAGES), whose main mission to finance the innovative projects (amount granted ranges between 100, 000 dinars and 5 million dinars) and accompanying young promoters for seven years.

This event was organised in memory of the defunct Béchir Salem Belkhiria (March 4, 1930 – November 26, 1985), fleuron of Tunisian industry and one of the pioneers in matters of guiding Tunisian youth inventors. The event to which took part several youths bearing projects ideas was organised by the Young Inventors' Association in collaboration with the Jemmel November 7 Club Association.

ECOMED, first international fair of energy mastery

This first edition will be marked by the participation of some sixty exhibitors among whom 12 foreign firms from France, Germany, Canada and England, representing several activities pertaining to the energy sector. The mastery of energy, renewable energies, energy efficiency in the industrial sector, co-generation and scientific research in the energy field are topping the event's agenda.

Two conferences are to be organised on the fringes of this fair on "the new legislation of the renewable energies in Tunisia" (April 23, 2009), and "solar energy conditioning and heating". This second gathering organised by the Tunisian graduates from the German universities will provide the occasion to present the German experience in the field of mastering energy.

Tunisian Navigation Company to acquire new large capacity car-ferry

 The Tunisian Navigation Company (CTN) has recently launched an international call for tender for the acquisition of a high- capacity car ferry.

The specifications included in the tender destined to international shipyards specialized in the building of large ferries with an experience of at least 10 years, refer to a ship with a capacity of 3000 passengers and 1000 vehicles.

The company has plans for 2009-2011 to acquire two other high capacity freight ships for roll-on/roll-off freight.

The move aims at boosting the company’s competitiveness in addressing the increasing flow of visitors and goods into the country.

CTN which currently operates 3 ferries, is ranked 5 th in Africa and is the 3 rd transportation company in Tunisia after Tunisair and Nouvelair.

In March 2009 the company celebrated its 50 th anniversary. 

March 2009

Tunisia has best banking facility rate in the region

 A survey recently released by the Union of Maghreb Banks (UBM) shows that Tunisia has the best banking facility rate in the region. The survey indicates that Tunisia offers one banking facility for 9,530 inhabitants, against 12,540 in Morocco and 25,000 in Algeria. The international norm being one banking facility for 8000 inhabitants.

The survey also shows that Tunisia also leads the way when it comes to the granting of loans with 96% of satisfaction rate for loan requests, against 68% in Morocco and 53% in Algeria.

The Tunisian banking sector provides the main source of financing of the country’s economy; it amounts to 26 billion dinars which represents some 64% of the GNP with an increase rate situated between 5, 6% and 7%, during the period from 2002 and 2008.

The survey was carried out among 62 banks and finance institutions which took part in the survey, out of the 108 banks currently operating in the region.

The banking facility rate is one of the indicators of the level of economic development of a country.

As an example, France, Germany and the United States have banking facility rates of more than 90% whereas Yemen, the Central African Republic and Niger have banking rates inferior to 10%. Figures recently published show that Tunisia, Morocco, Zambia and Kenya have the best banking facility rates in Africa.

International real estate company to launch 5 star project in Tunisia

 In a press release issued on March 17, PR.com has announced that the international real estate company Goldberg and Partners real Estate LLC in Spain, have teamed up with a Tunisian building company to market a new 5 star development in the country.

It also writes that according to the Financial Times, Tunisia in one of the top 2 destinations for foreign investments in real estate in 2009.

PR.com adds that Tunisia benefits from having one of the world’s “safest real estate systems” , where “developers can build only with their own money, unlike other countries.”

The 5 star project is “close to golf and sea and has a guaranteed rental element to it”, writes PR.com.

Owing to its proximity with Europe, its stability and the quality of services and infrastructure it offers, Tunisia is increasingly becoming a hub for real estate buyers, lured by the competitive price of real estate and its high rental potential.

BNP Paribas opens 6 branches in Tunisia

 In line with its strategy of expansion in the Mediterranean area, the French banking group BNP Paribas has opened 6 new branches in Tunisia. In 2008 the group has launched 200 new branches in the region increasing its network to 3900 units , including 3000 units in France and in Italy.

The group also has a network of trade centres working for international enterprises in 6 Mediterranean countries, including Tunisia, Italy, France, Algeria, Egypt and Turkey.

In the Maghreb, BNP Paribas has 22 branches in Morocco, 13 in Algeria , 48 in Libya and 6 in Tunisia.

Tunisia continues to attract Arab investors

Despite the global economic crisis, Tunisia continues to attract foreign investors. Arab investors who are behind some of the country’s mega projects have pledged to honor their commitments, said Mr Foued Daghfous , first Advisor to the President of the Republic and the head of the high commission for great projects, during a meeting organized by the national chamber of women entrepreneurs in Tunis, on Tuesday.

Among the mega-projects currently underway in Tunisia, Mr Daghfous mentioned the “Gateway to the Mediterranean”, “Tunis Sports City” and the “Tunis Financial Harbor”.

He also mentioned projects which were the object of signed memoranda which include Ariana’s “Bled El Ward”, “Tunis Telecom City” and other tourist and housing mega projects such as those of Mahdia, Tozeur, Haouria and in Northern Tunisia.

Foreign investors’ revenues in Tunisia are totally exonerated from taxes and social security charges, he said.

The meeting which was held on the theme: “Tunisia gateway of Arab investment”, stressed the importance of strengthening Arab cooperation as well as boosting he Arab Maghreb Union.

During the meeting a study by the international consulting firm “Ernst and Young “, was also evoked by the firm’s director for Tunisia, Mr Noureddine Hajji.

The study shows that the economic crisis can represent an opportunity for emerging nations, as shown by the firm’s conclusions that one third of the 500 hundred major enterprises in the world will stem from emerging countries, but not only from Brazil, China, Korea or Mexico.

Direct flights will link Djerba to Geneva, Zurich and Nantes

 Djerba’s international airport is getting a facelift. In addition to the setting up of moving walkways, the airport’s VIP lounge will also benefit from a renovation program. All in all, some 13 million dinars have been earmarked for the airport’s refurbishing.

During a work meeting organized on Thursday on the island, it was also announced that direct flights will henceforth link Djerba to the cities of Geneva, Zurich and Nantes. Moreover flights between Djerba and Paris will also have a first class cabin.

The meeting which was attended by the Governor of Medenine, Tunisair’s CEO, and the director general of civil aviation, looked at ways of upgrading the airport’s facilities.

Djerba International airport, one of Tunisia’s 9 airports provides 20% of Tunisair’s traffic. The airport which is used by 66 airlines has witnessed a traffic estimated at 25,288 flights in 2008. The number of passengers going through the airport has reached 2 million 624 thousand in 2008.

A leading tourist destination in Tunisia, the island of Djerba was ranked in 2008 as the world’s best tourist destination by the American travel guide, Trip Advisor.

Tunisia has become a burgeoning tourist destination for Brits” writes UK property portal

 Tunisia has become a burgeoning destination for Brits over the last couple of years”, writes Property Wire in an online article released today. The portal which highlights the importance of Tunisia’s recent signing of the open skies agreement as “increasing investor interest in Tunisia”, adds that the country which welcomed 7 million tourists in 2007, is witnessing a “71% increase in 2008 bookings, according to lastminute.com.”

“The confirmation of the signing of the Open Skies agreement can only be good news for Tunisia”, writes Property Wire which notes that after having seen tourism demand rise significantly over the past years, “holiday makers will find it even easier and more affordable to visit this beautiful country.”

The portal also stresses the role of the Enfidha International airport, whose completion is due by October 2009 in promoting both tourism and investor interest in the country.

Tunisia offers regular flights to the UK with British Airways and Tunisair. Some charter flight services are also available, however it is expected that the signing of the Open Skies agreement will significantly boost the number of visitors in the country, by offering a wider range of airlines, including low cost companies. 
 A delegation of the International Monetary Fund (IMF) visit Tunisia

Mr. LAJIMI Khelil, Minister of Tourism has received Thursday morning, a delegation of officials from the International Monetary Fund (IMF), which is currently visiting Tunisia. The interview was devoted to consideration of the international economic environment and its impact on certain economic sectors.

The Minister, on this occasion, gave an overview of the Tunisian tourism and its development prospects in the light of a global tourism economy marked by a recession in major markets. He also stated that, given the economic importance of the tourism sector, several measures have been implemented to enable it to adapt better to the changing market conditions and requirements of customers.

 The minister also pointed out that one of the major directions of the strategy for tourism development related to the spread of the tourist season through the promotion of new products, such as Saharan tourism and cultural and thalassotherapy golf.

 Products with high added value, he again stressed that continue to assert themselves and contribute to the consolidation of this sector on the international scene. The interview has also focused on tourism investment and the upgrading of tourist establishments.

February 2009

Tunisair will launch a new flight between Tunisia and Canada

 On the Informative Day on "Opportunities for export and investment in Canada," all agreed that the volume of trade between the two countries remains below the existing possibilities. Several reasons have been discussed and almost everything revolves around the geographic remoteness and the difficulty for businessman to make trips.

Indeed, to date, there is still no direct flight between Tunis and Montreal despite the sizeable potential of travelers between these destinations.

On this point, and just after the speech of Mr. Faouzi Elloumi, President of the Tunisio-Canadian Chamber of Commerce (CCTC) has not failed in turn to emphasize the need for Tunisia and Canada to establish flights and direct sea ship services, Mr. Youssef Neji, CEO of CEPEX, said a direct line between Tunisia and Canada will soon see the day.

Mr. Youssef Neji, who was the CEO of Tunisair, said (in the presence of Moncef Zouari, CEO of Sevenair) that the national airline is seeking to develop a direct line to Canada whose activation will not delay.

Nationwide anti-tobacco campaign to be launched in Tunisia

Before 1987, Tunisia had only 3 pharmaceutical production plants, today there are 42. Investments in the sector have reached 403 million dinars against only 10 million dinars in 1989. The sector which currently employs 3800 people, is expanding.

Tobacco kills some 8 million people throughout the world each year. In Tunisia, the number of deaths attributed to tobacco every year, is 6850. Several studies have shown the link between tobacco consumption and chronic or serious diseases such as cancers and cardio vascular illnesses.

British Airways reconsidering fares 

Cinecitta: a new born of the Tunisian Cinema