Under the patronage of H.E. President Zine El Abidine Ben Ali 14-15 November 2008 Karthago Le Palace, Les côtes de Carthage Participate in this event to be up to date on: Latest developments in s economy and investment environment. s economic role and position in the Mediterranean basin, and its evolving relations with the European Union. Main development projects and opportunities for the private sector. Investment opportunities in major sectors of the n economy: agriculture, industry, tourism and related services, construction, real estate development, banking and finance, and information technology. W W W. I K T I S S A D. C O M Evolution of the n stock market and its potential for investors. Organizers The Ministry of Development & International Cooperation In Cooperation with L Union Tunisienne de l Industrie, du Commerce et de l Artisanat Le Conseil du Marche Financier Sponsors Official Carrier
The overall size of Arab investments launched in over the past two years is estimated at $14 billion, with additional projects in the pipeline estimated at $26 billion. : An Ambitious Vision The n economy maintained a pace of steady economic growth and accelerated development in 2007 as the implementation of the Ten-Year Economic Program 2008-2018 went ahead side by side with the Tomorrow Program which was launched in 2004 and aims at improving the investment environment, promoting economic modernization and development, and creating new employment opportunities. GDP posted a growth rate of 6.6% in 2007, a figure that exceeds the forecast rate of 6% under the Economic Program as well as forecasts by the Central Bank of Tunis (6.3%) and the World Bank (6.25%). Growth spanned all the major economic sectors encompassing a rise in production and investment, and a spate of new projects. At the same time, and a reflection of the expansion in the real economy, the inflation rate dropped from 4.5% in 2006 to 3.1% in 2007, despite the surge in prices of imported oil and food products. In order to shed more light on ongoing developments in the n economy and economic priorities for the next phase, as well as to introduce investors to the numerous and diverse investment prospects in, the n Ministry of Development and International Cooperation and Al-Iktissad Wal-Aamal Group, in collaboration with the n Union for Industry, Trade and Traditional Handicrafts and The Financial Market Council and BusinessMed, are organizing the Second Economic Forum on 14 and 15 November 2008, at the Karthago Palace Hotel near the n capital. The second forum will give particular emphasis to s role as a major economic player in the Mediterranean basin and investment destination in North Africa, its relations with the EU, and the implications of these relations for investment opportunities, the performance of the financial sector and s stock market. The forum will also focus on recent major developments in the n economy and economic policy priorities, highlight investment opportunities in agriculture and the agro-food industry, manufacturing, construction, real estate, tourism, and contracting activities, and discuss the role of investment funds and Arab and international financing institutions in funding development projects in. Over the past few years, has been reaping the rewards of its incessant economic reform efforts through the creation of a welcoming investment environment based on modern legislation, political and social stability, and integration into the world economic order. These developments have come at the right time to take advantage of the oil boom and the resultant flow of investments from the GCC countries into North Africa. in fact is an increasingly attractive venue for individual and institutional investors from the Gulf with a host of new projects announced in recent years in sectors such as tourism and real estate development, sports facilities, infrastructure, and public utilities. Mediterranean Gate Project
The 1 st Economic Forum, 2007 Al-Itkissad Wal-Aamal Group organized the First Economic Forum on 9 and 10 October 2007 in collaboration with the Ministry of Development and International Cooperation. The forum was held under the auspices of H.E. Zein Al Abideen Ben Ali, President of. A number of n organizations also took part in the organization of the forum, namely the Capital Market Authority, the n Union for Industry, Trade and Traditional Handicrafts, and the Foreign Investment Promotion Agency (FIPA). The first forum was very successful in bringing together more than 700 participants from the economic and financial sectors from and more than 20 Arab and foreign countries. Among the participants were high ranking n and Arab officials. Mr. Mohamed Al Ghanoushi, the n Prime Minister, inaugurated the forum on behalf of H.E. the President. He also concluded the conference with an open discussion with participants. The conference was attended by the ministers of Development and International Cooperation, Finance, Tourism, Traditional Handicrafts and Industry, Energy, Small and Medium Enterprises, as well as the governor of s Central Bank and high ranking n officials. A number of prominent Arab officials also attended the conference, including the Libyan Deputy Prime Minister, the State Minister for Council of Ministers Affairs, the Chairman of the Arab Monetary Fund; Mauritania s acting Minister of Investment, as well as representatives of Arab chambers of commerce and industry, and leaders of major investment and financial Arab corporations. The first forum honored a select group of Arab and ns personalities for their outstanding contribution to the economies of their respective countries. These were: Mr. Mohamed Al Karkawi, the UAE s State Minister for Council of Ministers Affairs, Mr. Faisal Al Aayar, CEO of Kuwaiti Holding KIPCO, Mr. Al Hadi Al Jilani, Head of the n Union for Industry, Trade and Traditional Handicrafts, Mr. Bilhassan Al Traboulsi, President of the n Group Cartago, Mr. Fahed Al Adel, President of the Saudi Investment Group, Mr. Saleh Kamel, President of the Al Baraka Group, and Mr. Mustafa Al Khitabi, General Manager of the Arab Libyan Company for Foreign Investments. W W W. I K T I S S A D. C O M
The n Economy Fast Growth and Expanding Opportunities for Foreign Investors s economy achieved a growth rate of 5.5% in the years from 2004 to 2007 largely on the strength of a fast expansion in industrial production and tourism-related services, and consequently increased investment spending. Growth is expected to rise further to more than 6% in 2008. The industrial production index jumped 16 percentage points between 2004 and 2007, paralleled with a rise in the contribution of manufacturing industry to GDP. The same is true of the service sector whose contribution the GDP reached nearly 39% in 2007. is today a major tourist destination in North Africa and the Arab world. The number of tourists visiting the country reached 6.8 million in 2007 resulting in total receipts of more than TD 3 billion. s development strategy gives special importance to the promotion of the tourism sector which still has considerable growth potential, and offers many investment opportunities, particularly in new hotel and resort projects, and a wide range of tourism related services. Over the past few years, s economy has benefited from a rising flow of foreign investments and given its favorable investment environment, is expected to draw a larger share of investment surpluses flowing from the Gulf to North Africa. also has strong ties with the EU, with exports to EU countries accounting for 74% of its total exports in 2007. In addition to the tourism sector offers countless investment opportunities across most economic activities. Target sectors and projects include the new international airport, a modern railroad, a network of highways, power generation plants and water desalination stations, new oil refineries, manufacturing industry, real estate development, and cultural projects including the Cultural City in Tunis the capital. basic ECONOMIC INDICATORS 2004 2005 2006 2007 FEB 2007 GDP growth rate at constant prices 6.1 40 55 6.3 6.1 Breakdown of GDP by main sector (%) Agriculture 12.4 10.8 10.8 10.3 Industry 28.3 29.0 29.2 29.6 Services 36.3 37.9 38.3 38.6 Industrial Production index 109.1 1109 114.0 125.0 130.1 Consumer Price Index 111.5 113.8 118.9 122.6 126.5 Consolidated balance sheet of Banks (billion n dinars) Total assets 31.1 33.9 36.5 41.4 41.4 Total loans to the domestic economy 20.0 21.6 23.1 25.5 25.9 Total deposits 16.5 18.5 20.1 22.8 23.1 Capital account 4.0 4.5 4.9 5.5 5.5 Foreign Trade (billion n dinars) Exports 12.1 13.8 15.6 19.4 Imports 159 17.3 20.0 24.4 Destination of Exports (%) North Africa 5.55 7.2 7.8 7.6 7.5 EU Countries 79.0 74.9 71.9 73.7 73.9 Other Countries 15.9 17.3 20.0 24.4 Origin of Imports (%) North Africa 5.0 53 6.6 5.4 6.8 -EU Countries 60.8 61.6 57.0 57.2 52.5 USA 2.8 2.5 2.8 2.9 5.6 Other Countries 31.4 30.6 33.6 34.5 35.1 Stock Market Number of listed companies 44 45 48 51 Total market capitalization (billion n dinars) 3085 3840 5491 6495 Value of trading (billion n dinars) 690 1662 4607 1736
Highlights of the Forum Program FORUM PROGRAM 1. Latest Economic Developments and the Investment Climate in Performance of the n economy during 2007-2008. Progress in achieving the goals of the 10-Year Economic Program and the of Tomorrow Program. Latest developments in the investment laws and regulations. 2. s Role in the North African region and the Mediterranean Basin Evolution of s economic ties with the EU in terms of trade, investments and joint projects. s position as a link between North Africa and the EU, and its role in promoting European investments in the region Comparative competitive abilities: What are s advantages in the Mediterranean region? 3.Main Development Projects in Tunis and the Prospective Role of Private Investment in their Realization. The next phase of infrastructure development projects (roads, airports, seaports, power plants, industrial zones, etc.) and the role expected of the private sector in the realization of these projects. Mega real estate development and tourism projects. Industrial projects. Evolution of and prospects for direct foreign investments in funding large projects. Role and contribution of s contracting and construction companies in implementing large domestic projects. 5. n Agriculture and the Potential for Improving Food Self Sufficiency in light of the World Food Crisis Developments and challenges in the agricultural sector. Possibilities of increasing agricultural production capacity for domestic consumption and export. Investment opportunities in the main agro-industry projects. The food products industry and its potential in. 6. Future Investment Opportunities in the Other Main Sectors Manufacturing industry and the export industries, tourism and related services. Construction, contracting and real estate development. Finance, banking and insurance. Information technology. Other sectors. 7. Growth and Performance of the n Stock Market and its Competitive Potential for Investors Comparative performance of the main market indices. Main investment opportunities in the market. Activities of n and Arab investment funds in the n market and future potential. Possibilities and opportunities for the entry of Arab sovereign funds into the market and its potential impact. 4. Financing Development Projects in : The Role of Banks and Arab and International Financing Institutions The n banking sector: Its development and present and prospective role in financing the domestic economy. Role of Arab and international development funds in financing large projects in. Prospects and possibilities of future cooperation between these funds and the n private sector and foreign investors in future financing activities.
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