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Macroeconomic Framework

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Macroeconomic Framework COUNTRY CONTEXT Strategically located in the Southern Mediterranean. Economic growth : GDP per capita is one of the highest in Africa, esmated average GDP growth of 3.7% from 2017-2020. Tunis Business friendly investment climate : as a result of post Arab Spring, reforms are implemented in areas such as banking, TUNISIA compeon, bankruptcy, ICT liberalizaon, PPPs. Highly educated workforce : student populaon is 325,000. 60% are female. More than 70,000 graduates per year and 33% trained in ICT. Innovave and technological infrastructure : 10 sector specific technoparks, 15 cyber parks dedicated to communicaon technologies, 2 business parks, a park dedicated to the aeronaucs industry, 152 industrial zones. Well developed transport infrastructure : 9 internaonal airports, 7 commercial ports and one oil terminal, a railway network covering the enre country, a KEY FACTS road network of about 20 000 km of roads and more than 640 km of motorways Languages Arabic (Mother tongue) French (Business) connecng all the Tunisian cies. Other widely spoken languages : English and Italian Currency Tunisian Dinar (TND) Government Parliamentary Republic Connecvity : mobile cellular subscripon Land area 163,600 sq. km of 130 per 100 people. Coastline 1,148 km Major urban areas Tunis Population 11.4 million Robust legal framework for investment : Literacy rate 81.8% Tunisia has adopted a new investment GDP (current, 2017) $40.30 billion law regarding the ICT sector : the Start-Up GDP Growth (2017 est) 1.9% Act. GDP per capita (2017) $3,690 Natural resources Phosphates and derivaves, petroleum, renewables, salt, iron ore, lead, zinc. COMPACT MEASURES The Government aached priority to compact acons aiming essenally at reinforcing macroeconomic stabilizaon and boosng inclusive and sustainable growth. MACROECONOMIC FRAMEWORK The priories of the Tunisian government are mainly focused on the major macroeconomic balances through : - Mul-year fiscal adjustment while boosng investment and social spending - Increasing reserves based on macroeconomic stabilizaon package BUSINESS FRAMEWORK The government has engaged several reforms to improve business environment including simplifying procedures, enhancing transparency and reinforcing governance through : - New investment, PPP and compeon laws - Unique interlocutor for investment projects - Governmental program to streamline licences regarding economic acvies within two years FINANCING FRAMEWORK Tunisia has undertaken a series of important actions in the financial sector in order to enhance its performance and diversify financing instruments through : - Restructuring the banking sector - Efforts to clean up non-performing loans and increase lending capacity TUNISIA | Compact with Africa OPPORTUNITIES INFRASTRUCTURE Potential projects – Enfidha deep water harbor (600 EUR) – Public Private Partnership (PPP) projects to be – Improving interior roads (280 M EUR) in the governorates potenally implemented in an established legal of Ariana, Béja, Ben Arous, Bizerte, Gabès, Gafsa, framework especially in waste water treatment, energy, Jendouba, Kairouan, Kasserine, Kébili, Le Kef, Mahdia, transport, waste sectors : Logiscs zone for Rades port, Manouba, Médenine, Monasr, Nabeul, Sfax, Sidi Bouzid, waste water treatment plant in Gabes, waste water Siliana, Sousse, Tataouine, Tozeur, Tunis, Zaghouan treatment in Tunis north, seawater desalinaon plant of – Construcon of express roads linking the governorates Gabes in favour of Tunisian Chemical Group, … of Kasserine, Gafsa and Sidi Bouzid to Sfax, Gabes and the A1 motorway (480 M EUR) – Construcon of 35 new bridges in 23 governorates (80 M EUR) Main Infrastructure 9 7 International airports Commercial seaports Developed network and one oil terminal of roads and highways 12 15 Competitivity Cyberparks for About 152 clusters different specialitieslitiess industrial zones and 2 Parks for economic activities AUTOMOTIVE INDUSTRY, THE DRIVING ENGINE OF TUNISIAN INDUSTRY - An average annual growth of producon and exports of - Different stages of the value chain covered by the 12 % over the past decade Tunisian companies (40% local content) - More than € 2 billion of exported auto spare parts - Experienced and highly adaptable workforce - Tunisia is among the 10 first providers of Europe for - Geographic proximity and fast delivery mes electrical wiring systems - Consorum of equipment manufacturers within the - Tunisia is the only country in Africa with local companies Tunisian Automove Associaon established worldwide A BOOMING AEROSPACE INDUSTRY - More than 80 companies set up in 4 industrial clusters - Integrated industrial plaorm dedicated exclusively to - Presence in the enre supply chain : high precision cung aeronaucs and machining … - Consorum of companies with acvies related to - High value-added activities : software/hardware aerospace industry within Tunisian Aerospace Associaon engineering Industries « GITAS » ICT, AN EXPANDING SECTOR - Mul-skilled human ressources - Tunisia is the first Arab and African Country in terms of - The highest concentraon of researchers among Arab innovaon (2018 Bloomberg Innovaon Index) and African countries - Tunisia is the 7th best city around the world to launch a - A performing infrastructure offer start-up - The biggest data center in Africa “dataxion” is based in Tunisia - A favourable legal and fiscal framework TUNISIA | Compact with Africa PARTNER SUPPORT FOR THE REFORMS Tunisia has been constantly supported by mullateral and bilateral partners for the most important structural reforms carried out along the transion path. The five-year development plan 2016-2020 aims at promong stronger and inclusive growth. Macroeconomic stabilizaon including fiscal consolidaon, improved budget composion and reduced external imbalances through larger exports and FDI are considered prerequisites for growth. On these basis, the partner support is mainly aimed at : Macroeconomic Framework - Ensuring macroeconomic stability and debt sustainability while mobilizing more external resources - Increasing domesc resource mobilizaon in the context of an investment-friendly tax system - Ensuring efficient public investment management - Improving public sector performance Business Framework - Reliable regulaons and instuons - Improved project preparaon - Operaonalizaon of PPP - Simplifying investment procedures - Streamling economic licences Financing Framework - Efficient risk migaon instrument - Domesc debt market development - More effecveness in financial and capital market development TUNISIA | Compact with Africa CONTACT INFORMATION Ministry of Finance www.finances.gov.tn Ministry of Development, Investment and Internaonal Cooperaon www.mdci.gov.tn Deposit and Consignment Fund CDC www.cdc.tn Foreign Investment Promoon Agency www.invesntunisia.tn Tunisia Investment Authority www.a.gov.tn General Instance of Public Private Partnership www.igppp.gov.tn Focal point Olfa CHAMARI Ochammari@finances.tn.
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