| LEADING NEWS |
Med countries stand firm despite inward FDI slowdown
ANIMA presented in Beirut during Med Invest the first exclusive results of its 2008 survey of Foreign Direct Investment (FDI) in Med countries. If the past year was marked by a decrease in the volume of inward FDI (Euro 40.6bn vs. Euro 61bn in 2007), ANIMA notes that Med countries, relying on important assets, resist quite well to the global economic crisis. Download:
Mediterranean Investment Map
List of investment projects in 2008
Press release
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Which opportunities to face the crisis ? Conference in Agadir on 14th march 2009
In order to speed up the development of new strategies and tools generating a favorable environment for the reception of direct foreign investments (DFI) , the initiative Carrefour Maghreb led by the Moroccan business women association (AFEM) starts its activity with an international conference. It will share with the Mediterranean investors the opportunities and tendencies of the Maghreb countries in the new global environment
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10 banks to develop a joint offer for the migrants remittance
10 banks and financial institutions of the northern and southern rim of the Mediterranean have agreed on the 31st January 2009, on a memorandum of cooperation on migrants’ money transfers. The Invest in Med partners rejoice for this initiative that emerges after long negotiations. The programme is ready to support the transfers by helping countries to develop mechanisms to direct these funds to the financing of SMEs.
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| BUSINESS OPPORTUNITIES |
Algeria – Drugs: list of prohibited products to importation and call for techniques and financial partnerships
The recent publication, by the Algerian government, of a list of 359 drugs of common use prohibited to importation, gives a new strategic dimension to the national pharmaceutical industry.
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Egypt – Egypt will dedicate EGP 30 billion to stimulate its economy
Egyptian Finance Minister Youssef Boutros-Ghali announced that his country will double its stimulus plan and inject up to EGP 30 billion (USD 5,4 billion) in the domestic economy.
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Egypt – Turkish bus maker TEMSA Global to launch USD 25 million plant
The new Egyptian factory will produce nearly 1.000 new units per year, and targets mainly Middle Eastern customers. 750 new jobs are to be created locally according to a company executive.
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Jordan – Mafraq Development Company to build new factory
The Jordanian-Bahraini firm announced on the 20th of January that it would build a cardboard plant in the Northern city of Mafraq, a 20 million EUR investment that is expected to provide 150 job opportunities.
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Libya – Call for to tender for the attribution of a first private licence of fixed and mobile telecomunication
The general Authority of telecommunications of Libya (AWG) published an internationa call for tender for the attribution of the first licence of private telephony of the country. Deadline to candidature:May 13, 2009.
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Morocco – Real estate: Morocco to tap into middle-class housing
"Morocco has a strong demand for low and middle-income housing and is at the forefront of this type of urban development,' the president of real estate company Jet Sakane, Mr. Karim Amor, declared.
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Tunisia – Tunisia takes a series of measures in favour of air and maritime transports
The Tunisian head of state Zine El Abidine Ben Ali chaired on January 28 the Council of Ministers on maritime and air transport. Significant measures were taken in order to make of this sector a growing point for Tunisia.
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Turkey– The French cement-manufacturer Lafarge wishes to yield his Turkish activities
One of the Turkish subsidiary companies of the French group Lafarge, which has two cement factories in Turkey, confirmed on February 10 that its head office wished to disengage from the country.
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RECENTS INVESTEMENTS IN MEDA
All foreign investments in MEDA available in the MIPO observatory |
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Algeria - Electronics component
The group General Cable Corporation (GCC) to invest heavily in modernisation and capacity increase of Enica Biskra, its 70%-owned cable manufacturing subsidiary privatised in 2008.
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Egypt - Cement
Beni Suef Cement, part of Titan Cement, was granted permission to launch a new production line with a capacity of 1.5 million tonnes a year.
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Israel - Drugs
The drug development services provider Covance to set up a new regional office in Tel Aviv, to serve South-East Europe and Middle East markets.
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Jordan - Energy
State-owned electricity company Korea Electric Power Corporation (KEPCO) to take a 65% stake in the largest privately-owned power plant, being built under a BOO contract in Qatranah
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Lybia - Banking
The Morocco-based bank to open a branch in Tripoli, which will also serve all North African and Sub-Saharan businessmen.
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Morocco - Aeronautic
The aerospace subcontractor Auvergne Aéronautique / Casa Aéronautique to open a 2nd plant in Casablanca, which will assemble components for other offshore contractors such as Aircelle-Safran.
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Palestinian authority - Telecommunication
The financing arm of the World Bank IFC to invest in Qtel’s Wataniya Palestine, a company building a mobile phone network in the West Bank.
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Syria - Transport
CMA CGM obtained a concession contract for a container terminal at the Port of Lattakia (PoL).
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Turkey - Insurance
The insurance broker April Group / Sano Concept to fully acquire local call centre company Score Call through Sano Concept.
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| > All foreign investments in MEDA available in the MIPO observatory |
| BUSINESS ENVIRONMENT |
Algeria – Algerian government will apply new rules to foreign companies active in the country
Algerian Trade Minister El Hachemi Djaaboub announced that foreign companies active in Algeria will now have to rely on local importing companies for a minimum 30% share
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Egypt – France, new leader for foreign investments in Egypt
French investors are more and more present in Egypt, mainly in the cement, pharmacy and agrofood sectors.
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Israel – Patents: Israel ranks 6th in the world
Israel remains one of the most innovative countries in the world. According to IFI Patent Intelligence, Israel ranks 6th in the world in terms of the number of patents issued yearly.
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Jordan – South-south co-operation: Jordan and Tunisia sign 16 new deals
Gathered during the 7th session of the Tunis/Jordan mixed High Commission, the two countries signed 16 new deals in the field of trade and economy.
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Libya – Towards more private entrepreneurship in Libya?
Whereas the private sector only represents 2% of the Libyan GDP, the country is coming back regionally and internationnally, and plans to accelerate its economic reforms in 2009.
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Morocco, Tunisia – Between quality and quantity, the potential of the olive oil sector
The olive, historical culture in the Mediterranean, remains an important source of revenue, like in Tunisia (4th worldwide producer), and of innovation, like in Morocco where a quality label is being developed.
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Sirya – Tourism: Syria becoming top destination for European travellers
According to the Syrian Ministry of Tourism, about 3.67 million tourists visited the country last year, a 15% increase compared to 2007. Around 1.1 million of these tourists are not from Arab states.
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Tunisia – New law for supermarkets in the country
Currently under study by the Tunisian parliament, a bill project is planned to amend the code for urbanism and land planning, putting an end to the obligation for supermarkets to settle outside the cities.
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Turkey – Kyoto protocol: the Turkish parliament agreed on the text
The Turkish Parliament has just signed the Kyoto protocol, aligning the country with the environmental norms of the EU to which Turkey is applied for membership.
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| AGENDA |
4 to 6 March 2009 - Med-Tracking - Workshop for end-users: what needs and what expectations for the Med-Tracking system from the freight transport actors? Athens, Greece
This workshop raises the questions which appear essential for the success of the Med-Tracking initiative: what are the specific and exhaustive needs for the end-users, what is the state of the art and which solutions would be necessary to implement for a better safety for the freight transport sector in the Mediterranean by 2010-2013?.
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14 March 2009 – Conference : Which opportunities to face the crisis ? Agadir, Morocco
AFEM international conference to share with the Mediterranean investors the opportunities and tendencies for the Maghreb countries in the new global environment.
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From 16 to 18 March 2009 – Management training – Business confederations, Paris, France
Training / Experience exchange between several business confederations (Lebanon, Morocco, France, Italy).
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From 24 to 26 March 2009- Med Academy – After care and territorial animation, Marseille, France
ANIMA training : tools and strategies needed when setting up an efficient after-care policy, which will lead to the generation of new investments on the basis of existing ones, as well as to the long-term settlement of investors on a given territory?.
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