Tunisia launchs investment campaign

In an effort to increase foreign-direct investment [FDI], the Tunisian government has launched a multi-year campaign under the banner "Looking for growth? Think Tunisia."

The media campaign will run from 2009 to 2016 as currently planned, and is a joint effort by the "Ministry of energy, small and medium enterprises, trade and handicrafts, as well as the Ministry development and international cooperation, the campaign is also supported by the Tunisian Union of business entrepreneurs (UTICA) and the European Commission in Tunis."

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TunisiaMag

The campaign will be most evident in the countries of France, Italy, Spain, Germany and the United Kingdom for this EU5 are the nation's main trading partners and account for 50% of commercial trade.

"Looking for growth? Think Tunisia" will host trade shows, produce brochures and videos and posters, and information points. A website will shortly be set up in four languages [French, Italian, German, and English]. The web address is thinktunisia.tn.

The North African nation has attracted more attention as an investment opportunity in the last few years, particularly in the recently liberalized properties market. And, in great measure due to the inauguration of a free trade deal with the European Union, investment has increased 51.1% from 2007 to 2008. The Mediterranean country attracted $2.3 billion in FDI last year.

Japanese automakers have long off-shored manufacturing to Tunisia. In the process, with acquired knowledge Tunisia has been able to develop its own car-parts industry. European air manufacture Airbus has built a soon-to-be-open factory. Tunisia is also home to half of European firms' call centers.

Despite the steady pace of foreign investment and indigenous growth, the country still suffers from chronic unemployment which is officially at 14% but may be as higher. Half of college graduates report not being able to find a job within a year of completing their degree.

The government is seeking foreign intervention both to directly create jobs and indirectly sparking entrepreneurial endeavors through providing capital and intellectual know-how; just as in the creation of a domestic car-parts industry.

The campaign will certainly raise awareness about Tunisia. But the Tunisian government should know that improving tax efficiency, bureaucracy and more stringently protecting property rights will do more for economic growth than any advertising. Tunisia deals well in many of these qualifications, but improvement [particularly in streaming the paper needed for starting a new business] can still be made.