Tunisia posts 24% drop in FDIs

The Tunisian Foreign Investment Promotion Agency, FIPA-Tunisia, said foreign direct investments in the North African country during the first three months of this year, have dropped by 24 per cent compared with last year first quarter (Q1).

The institution, in its Q1 2020 report, said Tunisia attracted $162 million (MD461.7 million). Energy, industry and agriculture are the major sectors of investment.

The agency noted that portfolio investments have also dwindled by 58 per cent to plummet at MD1.9 million, down from MD4.6 million recorded the same period last year.

The decrease is caused by lack of vision from the top leadership owing to the delay in forming the cabinet after the election of President Kais Saied in October.

Saied’s first cabinet was birthed in February following difficult talks between nominal Prime Minister Elyes Fakhfakh and various parties in the Tunisian parliament.

Caid Essebsi’s death in July last year casted uncertainty over the North African country, which is still reeling from terror attacks and economic challenges.

France, Germany, Italy and Qatar are the leading sources of FDI in Tunisia.