Tunisia's Start-up Act, in line with IsDB's guidelines (Chahed) | Tunisia News Gazette

Tunisia’s Start-up Act, in line with IsDB’s guidelines (Chahed)

The promulgation of Tunisia’s Start-up Act is in line with the guidelines of the Islamic Development Bank (IsDB) Group, which has launched a new $ 500 million-Transform Fund to support science, technology and innovation initiatives, said Wednesday Prime Minister Youssef Chahed.

In his remarks at the official opening of the 43rd annual meetings of the Islamic Development Bank Group, April 1-5, Chahed focused on the launch of the Tunisia Digital Strategy 2020.

He recalled that the IsDB’s commitments with Tunisia have so far reached $ 3.2 billion, covering several fields namely energy, water, agriculture, health, education, youth employment and private sector development, pointing out that the new co-operation strategy with the IsDB for 2018/2020 will be inked during these annual meetings.

The PM stressed the importance of economic transition in Tunisia after the political transition phase, through the adoption of a set of reforms launched as part of a participatory approach and the five-year development plan 2016/2020.

Among these reforms, he cited the adoption of a new law on investment, the establishment of an efficient financial and banking system with the adoption of a new banking law (the new law on the Central Bank of Tunisia) and that of the bureaux de change, emphasizing the importance of the private sector in supporting the efforts of the State in the achievement of development.

Chahed said the government plans to carry out 20 projects under the Public-Private Partnership (PPP) law, by means of about $ 2.5 billion in several sectors, such as renewable energy, infrastructure, water, waste management and recycling.

As regards public investment, the State has allocated an estimated $ 7.5 billion to invest in a number of sectors, including transport, logistics, water, energy and mining, he explained.

The prime minister pointed out the importance of complementarity among member countries to face economic challenges and create an economic and social dynamic, specifying that the volume of co-operation among IsDB member countries testifies to a timid contribution to trade, which does not reflect the capacities and resources that these countries have, calling for the need to establish an incentive investment climate.

Source: TAP News Agency

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