Posted by: Agence Tunis Afrique Presse

The Ministry of Development, Investment and International Cooperation and British company Expectation State signed on August 1 a memorandum of understanding to officially announce their partnership.

This partnership is geared towards increasing the quality and quantity of foreign investments in Tunisia as part of a project funded by the British government, the British embassy Monday said in a press release.

Under this agreement, Expectation State will collaborate with the Ministry of Development, Investment and International Cooperation, the Ministry of Communication Technologies and Digital Economy, the Tunisian Investment Authority, the Foreign Investment Promotion Agency and Smart Tunisia to attract foreign direct investments.

The project will help increase the capacity of actors to facilitate and maximise investment and urge international investment in Tunisia.

It is financed by the British government’s Conflict, Stability and Security Fund (CSSF) which provides support in security, governance, education and economy. A £10m budget is earmarked as part of CSSF programme for this year (£1=3.52 TD).

Minister of Development, Investment and International Cooperation Zied Ladhari said partnership with Expectation State will stimulate the climate of investment in Tunisia.

Expectation State CEO Raymond Asfour said Tunisia has a great potential as a destination for international private sector investments. The Tunisian government gave top priority to the security of investment so as to catalyse economic growth and create jobs. Expectation State will lend its support by helping attract potential investors, he underscored.

The MoU was signed on the sidelines of a visit last week in Tunisia by British Minister for International Development Penny Mordaunt.

Penny Mordaunt said, at the signing ceremony, the project will help Tunisia identify means to lure FDI to achieve prosperity and strengthen the development relationship between the two countries.

The project falls in line with the UK’s support for Tunisia meant to help meet security challenges, improve access to education and increase economic opportunities, she highlighted.

The British Minister also met, during her visit, with Premier Youssef Chahed. The talk turned on development and security challenges in the region, particularly the state of affairs in Libya,

She likewise discussed with Governor of the Central Bank of Tunisia Marouane El Abassi ways to improve access of Tunisian businesses to funding.