| LEADING NEWS |
ANIMA partners the 2nd Euro-Mediterranean Private Equity Forum (Tunisia, April 24-25, 2008).
ANIMA will take this opportunity to make an exclusive presentation of its new Med Funds Observatory. While identifying most of the funds and fund managers currently active in the Mediterranean, it will provide up to date statistics and data on Private Equity in the Middle East and North Africa. The Tunis Forum will bring together the various players in the regional Private Equity industry and it will address the main issues surrounding this fast growing source of financing for companies.
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The Algerian Parliament adopted a new law on the investment
Including simplified companies’ creation procedures, easier access to the public subsidies, reinforcement of the national Agency for the development and the investment (ANDI).
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The project of Union for the Mediterranean adopted unanimously
The 27 UE members approved the principle of an "Union for the Mediterranean", laid down the priorities and sources of funding.
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| BUSINESS OPPORTUNITIES |
Algeria– Energy - New tender for the exploitation of 15 oil and gas fields to be launched in March 2008
Between 2006 and 2007, 38 new hydrocarbons fields have been discovered, mainly in the south of the country.
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Egypt– Telecoms - This is the end of Telecom Egypt's monopoly on fixed telephony
Egypt's telecoms regulator is inviting national and foreign operators to bid for the country's second fixed telephony licence. A booklet of conditions will be available on March 13th.
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Israel – Agro-business - Agrexco, Israel's largest agricultural exporter, ready for privatisation
The Ministry of Agriculture announced last week that the council of the Plants Production and Marketing Board approved the privatization of Agrexco, Israel's largest agricultural exporter.
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Israel – Energy- International invitation to tender for the construction of a giant solar power station
Envisaged to be realized in the Negev desert, the future larger solar power station of the country will produce approximately 2% of the energy needs for Israel, that is to say 125MWatts.
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Jordan– Port - Aqaba: New Port opportunity and the Sea to Sky Real Estate Development opportunity
The Aqaba Development Corporation is introducing two major investment opportunities related to the relocation of Aqaba port.
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Morocco – Port - Call for tender : The extension process of the Tangiers-Med port is launched
Many international and local consortia are competing for the tender. Two terminals will be added to the existing port complex which aims to become an important platform for trade between Europe and Africa.
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Syria– Textile - Organic cotton: a great potential
In 2007, the total amount of organic cotton produced in Syria reached 67,500 tons. Total export revenue reached 1 million USD, an added-value of 41 USD per 100 kilograms of cotton hair.
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Tunisia– Tourism – Various tourism concessions available
Five projects: health and medical tourism complex in Al-Khabayat, Gabes, Lella Hadhria tourist zone in Jerba, Hergla tourist zone, Kalaat Al Andalous integrated tourist zone, greater Korbous area.
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Tunisia– Telecoms – The Ministry for the Development and the International Co-operation is looking for an investor for installation and management of a fixed telephone network
The objective is to stimulate the development of fixed telephony after the success of the opening of the mobile telephony market to private investments.
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Turkey– Energy - Launch of the tender for the privatisation of Ankara's gas distribution company
The consumption of natural gas in Ankara is set to double by 2018, reaching 60 billion cubic meters. 30 bidders showed interest in the bid.
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RECENTS INVESTEMENTS IN MEDA
All foreign investments in MEDA available in the MIPO observatory |
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Algeria - Metallurgy
Rio Tinto's Alcan to partner Algerian Cevital in an aluminium production project worth USD 7 billion in Jilel.
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Egypt - Textile
Grasim Industries' Birla Cellulose to invest EUR 129 million in creating a new viscose staple fibre plant in Alexandria to serve European markets.
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Israel - Data processing & software
The specialist for online payment Ebay / Paypal buys Israeli-based Fraud Science for USD 169 million.
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Jordan - Cement
The Lisbon-based company Cimpor plans to build a cement plant.
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Libya - Energy
London-based private equity firm Klesch & Company to invest in an USD 8 bilion project to build an oil refinery and an aluminium smelter by 2011.
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Morocco - Consulting and services to companies
Launch of Steria MedShore, a 50/50 JV between the French technological company and the Moroccan businessman Othman Benjelloum.
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Palestinian Authority - Electric, electronic & medical hardware
US-based IT group Cisco Systems to invest USD 10 million in venture capital investments in technological projects in Palestine.
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Syria - Public works, real estate
Dubai-based real estate company Emaar Properties to form a 50-50 JV with local Cham Holding to build residential and commercial projects in Syria.
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Tunisia - Bank
Qatar National Bank (QNB) to take over the Qatar government's 50 % stake in Tunisian-Qatari Bank.
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Turkey - Electronic ware
Italian white goods manufacturer Indesit to invest extra EUR 40-50 million in capacity expansion in order to manufacture new ‘Hotpoint-Ariston' brand.
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| > All foreign investments in MEDA available in the MIPO observatory |
| BUSINESS ENVIRONMENT |
Algria – Tourism is a new strategic priority for the country
Up to now, tourism was not considered as a key point of the Algerian economic development; it becomes again a national priority. The country hopes to attract nearly 20 million tourists from here 2025.
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Egypt – We are relying more and more on net FDI
Investment Minister Mahmoud Mohieldin expects Egypt to attract about USD 11 billion in foreign direct investment in its current fiscal year ending in june.
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Israel– Yahoo! to inaugurate a new research lab in Haïfa
According to the director of the new Yahoo! research lab, “Israel is fertile ground for incredibly talented technologists, researchers and engineers".
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Jordan – Canadian free trade talks with Jordan to begin soon
Ottawa will begin a first round of free trade talks with Jordan in April 2008, hoping to eventually sign Canada's first free trade pact with an Arab country.
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Lebanon – Beirut property market offers plenty of opportunities
A new study recently released by the Byblos Bank Group shows that real estate prices are well below MENA regional average, which implies an important potential progression margin.
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Libya – GULF Finance House launches its City of Energy, a settlement project of 3.8 billion dollars
The city will be established on a strategic site of a surface of 528 hectares in Sebratha, 70 km from Tripoli; there will be residences and shops, in addition to a business park.
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Morocco – Attractiveness: the Kingdom makes up for its lost time in new technologies
Several foreign investors choose to settle in areas dedicated to the off shoring like Tangier Med or the Nouasseur airport zone.
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Palestinian Authority – The World Bank urges opening Palestinian telecoms to competition
Wataniya, which won the 2nd mobile license, is still waiting for Israel to release the necessary frequencies. Licenses in the data transmission sector, as well as Wimax licenses should be offered.
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Syria– How modernisation of landline infrastructure, foreign investment and competition will affect Syrian telecoms
The landline monopoly is to invest USD 1.45 billion over the next 5 years. Syriatel (mobile operator) is about to be sold to Turkcell or Kuwait's Zain, and a 3rd mobile phone network might be set up.
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Tunisia– Foreign investments create a quarter of the new employments in 2007
Foreign investments represent a total stock of employments of almost 300,000 jobs.
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| AGENDA |
From 28 to 30 March 2008 - A Mediterranean Union, how and why?, Paris, France
Around central players on this, policy makers, business leaders, trade unionists, intellectuals, journalists, we encourage you to a great reflection on this project, the conditions of its success, its contours and its contents.
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8 April 2008 - First Agadir Agreement Member States Investment Forum, Brussels, Belgium
The Agadir Agreement (the Arab Mediterranean Free-Trade Area) signed by Egypt, Jordan, Morocco, and Tunisia with a market exceeding 120 million consumers can be highlighted to further attract European Investment.
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From 8 to 10 April 2008 - Mission sourcing - Morocco
This mission, sponsored by the female ready-to-wear French Federation and set up by the AMITH, the UNIDO and regional professional organizations.
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17 April 2008 - Emerging Markets 2008 – Paris, France
This 2nd edition of this international summit dedicated to the emergent markets, will approach the major problems of markets with strong growth such as Asia, Brazil, Russia and the Eastern European countries, the Middle East.
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From 23 to 24 April 2008 - e-3M Tunis'2008 - Tunis - Tunisia
Mediterranean Business Meetings in ICT Elgazala Pole.
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From 24 to 25 April 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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