Does foreign investment into the Mediterranean foster growth?
While the debate on the Mediterranean Union intensifies, a paper by the ANIMA think tank provides insights on the economic impact of the Barcelona process: does the gap between Europe and Mediterranean partners (MEDA) decrease (convergence) or increase (divergence)? Are the countries on the Mediterranean sufficiently integrated? What is the value added by the Barcelona process concerning economics? What really changed? Will the recent increase in the foreign investment support Euro-Mediterranean integration and foster growth? What is missing in the Euro-Mediterranean process to trigger a full economic success ?
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The Rome call for an Union of the Mediterranean
French President Nicolas Sarkozy, Italian Head of Government Romano Prodi and Spanish prime minister Jose Luis Zapatero united behind a planned Mediterranean Union and announced a 13-14 July summit in Paris.
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Foreign direct investment reached an estimated USD1.5 trillion record in 2007, MEDA seems to show stability
According to UNCTAD, global foreign direct investment (FDI) inflows grew in 2007 to an estimated USD1.5 trillion, surpassing the previous record of USD1.4 trillion set in 2000. Africa attracted an important amount of FDI (mainly Egypt and Morocco), but Near East countries have stagnated (except Turkey).
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Algeria– Euromed – Energy - HPC is looking for financial partners for its development in MEDA - Heurtey Petrochem S.A (HPC) is developing a new process called “P2R” (Petroleum Residue Recycling). The “P2R” is directly concerning the international MARPOL convention which consists to avoid to all ships to throw their “slops” to the sea.
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Algeria– Phosphates - Algerian producer Ferphos looking for strategic foreign partner to implement massive expansion plan
Algeria aims at becoming the 3rd greater producer of phosphates in the world which requires massive investments in production, transformation capacities, as well as rail and sea transport infrastructure.
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Algeria– Energy - New oil and gas exploration bidding round
"All persons interested shall submit a pre-qualification request to the National Agency for the Valorisation of Hydrocarbon Resources (ALNAFT)", as soon as possible, says Energy Minister.
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Israel – Energy - BOT tender for Ashelim solar power plant
The BOT (build, operate, transfer) tender to be launched soon is for the 250 megawatts Negev solar power plant at Ashelim, a project estimated at USD 300 million.
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Jordan– Waste management - Tender for the creation of a new medical and industrial waste treatment facility
Tenders for the implementation of the two-year project will be referred to a winning company in early 2008. The budget is JD15-20 million.
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Malta– Post - Maltapost to be fully privatised with the sell-off of the 40% govt. share
The remaining 40 per cent government shareholding in Maltapost is being put up for sale by Maltese government.
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Morocco – Software – Accessible market should weight MAD 600 millions in 2008
Households and enterprises equipment is booming, and the demand grows significantly.
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Tunisia– Port - Call for expression of interest for Enfidha deep sea port as a full BOT
The expressions of interest must be deposited by 31/01/2008.
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Tunisia– Casino - Tunisia still waiting for a major operator to develop the casino national market
Only Partouche Group is installed in Tunisia, with one casino in Djerba.
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Turkey– Tobacco - New deadline for offers on Tekel tobacco: February 18th, 2008
BAT, JTI, Citi Venture Capital International are among the potential bidders for the privatization of Turkey's state-owned tobacco company Tekel.
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Turkey– Privatisation programme accelerated in 2008
Turkish Treasury said FDI for the first 10 months of 2007 reached USD 16.14 billion. To be privatised in 2008: 75% of Halkbank, Tekel, energy production and distribution companies, 15% in Turk Telekom.
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Algeria - Agrofood
Dutch brewer Heineken to acquire Algerian Mehri group's beer division, Tango, and launch local production of its own brand in 2008.

Egypt - Chemistry-plasturgy
WIth Vancouver-based Methanex, the Chinese group Xinao Group will be a minority shareholder in a JV dominated by ECHEM, formed to set up a new DME plant.

Israel - Drugs
The developer, manufacturer and marketer of specialty generic prescription drugs RxElite Holdings, to acquire Finetech Laboratories LTD of Haifa for USD 18.5 million.

Libya - energy
NOC and a consortium of 2 companies owned by Dubai's Al Ghurair to establish a 50/50 JV to conduct a USD 2 billion upgrade of Ras Lanuf oil refinery.

Morocco - Jordan- Real estate-tourism
Moroccan Caisse de Dépôt et de Gestion and state-owned investment and development corporation Mawared from Jordan will co-invest in real estate and tourism projects in both countries. Regarding Jordan, the partners plan to develop the Al Bahra project of thermal resort on the Dead Sea, as well as Mawared’s Madinat Al-Shark project. In Morocco, they will invest in the extension of Moulay Yaacoub thermal station near Fes, and launch a tourism project in Tarfya for about USD1.2 billion.

Syria - Energy
The public company creates with Syrian Petroleum Company a JV aiming at creating a network of service stations and modernise the refineries.

Tunisia - Cement
Catalan group to buy from Spanish Prasa the Tunisian cement producer Sotacib, for EUR 86 million.

Turkey - Healthcare
The Dubai-based buyout firm Abraaj Capital to increase its stake up to 54% in hospital operator Acibadem Saglik Hizmetleri & Ticaret for USD 443.3 mln.

MENA– Gulf states launch common market 26 years after the creation of the GCC
The common market means free flow of capital, and also freedom of movement, residency and employment for GCC nationals. The GCC also plans to achieve monetary union by 2010.
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Algeria– FEMIP lends EUR 3 million to Algerian SME
The EIB’s instrument for the Euro-Mediterranean region will support a major growth and modernisation programme launched by the family firm Nouvelle Conserverie Algérienne Rouiba, a fruit juice producer.
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Algeria– EUR3 billion for the upgrading of the regional road network
Algerian Public Works Ministry gives priority to the renewal of the roads with a particular interest for communal paths and wilayas.
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Cyprus– The country to strengthen ties with Middle East
The opening of a Cypriot embassy in Amman during 2008 is in the pipeline; Cyprus’ "main focus" being on the Middle East.
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Egypt– First Turkish industrial zone in Egypt near Cairo
During his visit in Egypt on January 14, 2008, Turkish President Abdullah Gul will lay down the foundation of the Turkish industrial zone in the 6th of October City.
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Egypt– Closer economic ties between Egyptian and Turkish business
As Turkey and Egypt have put into effect the joint free-trade zone agreement in March 2007, companies from both countries are more and more interested in working together.
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Israel– Free trade agreement eventually signed between Israel and Mercosur
Mercosur, the South American trade bloc, signed a free-trade agreement with Israel on Tuesday, its first pact with a country outside of Latin America.
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Jordan– E-government aims at simplifying life for entrepreneurs
Jordan's Ministry of Trade and Industry launched electronic registration service for existing or future companies: the service allows registration, change in company name, or in capital size or trade activity.
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Morocco – New development strategy for agriculture
The government is determined to foster the development of big and modern farms, and modernise a sector that however needs careful treatment since half the country's population depends on it for its subsistence.
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Morocco – Corporate tax decrease in 2008
The corporate tax felt from 35 to 30% in January 2008.
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Syria– Jordan and Syria sign trade agreements
The signings are a clear sign of both countries' will to boost bilateral trade after years of rather frosty relations.
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Tunisia– The measures favouring exporting companies to be maintained until 2010
The total deduction of the profits and revenues coming from exports is maintained until 2010.
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Tunisia– After Egypt, Tunisia to create a stock market for SMEs
This new alternative Tunisian market opened on the 3rd December 2007, with only one IPO foreseen for now : SOPAT (Agrofood).
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Turkey– - Mergers and acquisitions in Turkey reached USD20.6 billion in 162 transactions in 2007
According to Deloitte, "Dutch investors’ performance was outstanding in terms of both volume and number, with 10 transactions adding up to USD3.6 billion. German and British investors are just behind.
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20-01-2008 to 21-01-2008- 3rd Algeria Economic Forum organised by CACI - Alger, Algeria
This event will welcome several high profile arab economic operators involved in various business sectors. National business opportunities and advantages offered by the country to boost FDI will be among the main topics tackled by the event.
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23-01-2008 to 26-01-2008- AeroExpo, aeronautical sub-contracting show in Marrakech, Morocco
The first Africa and Arab World show dedicated to aeronautical industries and services.
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06-02-2008 to 06-02-2008 – 7th France Maghreb Convention, Paris, France
Palais Brongniart, Espace Corbeille, Place de la Bourse, Paris
Leader : Convention France Maghreb.
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07-02-2008 to 07-02-2008 - 8th Forum Africagora, Paris, France
This forum will bring together economic African diasporas of France and Europe (Entrepreneurs, consultants, experts, managers, SMEs, etc.). The topics will be the investment and the diasporas.
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24-04-2008 to 25-04-2008 - 2nd Euromed Capital Forum, Tunis, Tunisia
Organized by Spirarex, in association with ANIMA, this event will gather 500 Capital investment professionals and partners from the mediterranean side countries.
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