Tunisia’s geographical location is not far from Europe. Its proximity is at the junction of the eastern and western basins of the Mediterranean which makes it a platform for investment, production, and trade. It is an excellent example of a Mediterranean country that is also part of the Arab and African worlds due to its political stability and the dynamism of its society. The main cities are Sfax, Sousse, Bizerte, Nabeul, Gabès, Kairouan, Jendouba, Béja, and Tunis which is the capital. The official language is Arabic, although French, English, and Italian are common languages as well. The population is roughly 10 million and growing. Opportunities for foreign investments are available in the fields of Information Communication Technology, Electric & Electronics, Mechanical, Textiles, Food, Leather and Shoes. By its central Mediterranean position, its competitive growth and its preferential treaties with numerous countries, Tunisia offers access to a number of markets for companies that desire to develop their activities. Foreign Direct Investments (FDI) receive FULL tax exemptions on export-derived profits for the first ten years of operations and thereafter, taxation at a low rate of 10% for the life of the company. Additionally, FDIs will receive FULL exemption on reinvested profits and income! These types of tax incentives provides an unmeasurable leveraging power to entrepreneurs and business owners alike. Investing in the Mediterraneans will allow for extreme business growth at a rapid pace, as international expansions are the way of the future.
So what’s available in what industry?
Information Communication Technologies (ICT) is a booming sector for Tunisia. It is one of the most dynamic sectors with one of the highest growth rates. This is attributed widely to the high levels of investments, nearly 3.9 billion dinars (3.3 billion U.S.). This growth can be correlated to a stronger infrastructure, especially telecommunications, involving active and motivated participation by private companies operating in this field. Tunisia has a large number of young graduates with skills and qualifications in various branches that meet the needs of businesses. In 2008 there were more than 9,500 graduates holding degrees in computer sciences and communications. The following opportunities are currently outsourced for ICT:
- Marketing Research
- Phone Sales
- Technical Support
- Remote Work
- Data Processing
- Software and Web Application Development
- Application Outsourcing
- Systems Integration
- Consulting Assistance
Additional investing industries are as follows:
Electric and Electronics
- Printed circuits, electronic cards
- Connectors
- Coils and Transformers
- Capacitors & Resistors
- Wire harnesses, wires and cables
- Lighting apparatus
- Engines
- Switches
- Cut-off Switches
Mechanical
- Equipment for large projects
- Bottled Gas
- Laser cutting of thin sheet metal
- Manufacture of mechanical parts smelted under pressure
- Tooling of mechanical parts using digital control machinery
- Manufacture and maintenance of molds
- Household items and fixtures
- Industrial faucets, parts for water distribution and hydraulic circuit connectors
- Parts for construction/public works equipment or for industrial machines
- Surface treatments
- Thermal Equipment (radiators, evaporator condenser)
- Motor Parts
- Tires and mirrors
- Exterior carriage work
Textiles
- Fabric production for clothing plants
- Modernization and upgrading of operating plants
- Fashion Garments
- Luxury Clothing
- Women lingerie
- Development of the fashion design platform
Leather
- Leisure and fashion shoes
- Shoe- Upper production
- Work shoe production
- Ladies leather hand-bags of medium and high quality
- Baggage items
- Small leather goods, of medium and high quality
- Quality leather to answer the needs of onshore and off-shore companies.
The Mediterranean is not only a place that will leave you gasping for air because of the beautiful beaches and unfathomable architecture, but a financial goldmine that will take the thriving investors breath away! What are you waiting on? The Mediterranean is waiting for you!
This weeks challenge: Take time to research how your business or services can infiltrate the Mediterranean market and capitalize on the massive tax incentives. Exporting your services can prove to be financially beneficial.
Next Weeks Topic: A Matter Relating to International Business
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Globally yours,
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