First call for initiatives of the Invest in Med programme
Following the launch of the programme with the presence of members of the Euro-Mediterranean network of chambers of commerce, enterprises confederations and investment promotion agencies, Invest in Med is launching a first call for initiatives on the 21 July 2008. The objective of this call to the networks is to help the emergence of concrete and sustainable actions for the development of economic exchanges between the two rims of the Mediterranean. Propositions of initiatives, coming exclusively from the members of the networks represented in the Invest in Med consortium (ANIMA Investment Network, Ascame, Business Med, Eurochambres) should articulate tools subsidised by the programme (business meetings, technical assistances, trainings and workshops, staff exchange, etc.). They must be submitted before the 21 September 2008 to initiatives@invest-in-med.eu.

High interest for the programme among the media
The launch of the Invest in Med programme held on the 1st and 2nd July in Marseille has been largely reflected by the Euro-Mediterranean press. Since the launch conference the project team has already identified over 30 articles in the daily newspapers and magazines from countries around the Mediterranean, and over 2000 web sites mentioned the programme during the last three months. This high interest is to be credited to the mobilisation of the networks members and partners of the programme in Europe and the Mediterranean countries. It is also a concrete illustration of the impact the economic development players can have when they act together

1st Young Mediterranean Leaders forum in Tunis on 16 October 2008
The involvement of expatriates and members of the Mediterranean diasporas in the economic development of their countries is a domain that will mobilise a number of operations during Invest in Med. In this perspective we would like to inform you that the first Young Mediterranean Leaders forum will be held in Tunis between the 16 and 18 October 2008. Organised by the « Club du XXIème siècle » this forum intends to gather around 200 « young leaders » - aged 35 to 45 – of the economic, political, scientific, artistic and cultural spheres from south European and Maghreb countries, to discuss and propose concrete projects to bridge the two Mediterranean rims

Algeria – Construction - Hyflux, company from Singapour, will build a desalination plant in Magtaa for 468 million USD
It is the second operation of this group in Algeria, after the desalination plant built in Tlemcen in 2007.
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Egypt – Telecom - The bid deadline for Egypt's 2nd landline licence was postponed to Sept. 18, 2008
Ericsson and 2 Gulf Arab telecom firms bought the conditions booklet, while France Telecom, Orascom Telecom , Etisalat , Atheeb group, Alcatel-Lucent and Kuwait's Noor are interested.
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Morocco – Jobs - Cegedim launches its recruitment campaign
The French company, installed in Rabat and Casablanca, envisages to hire about fifty people locally before 2009.
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Turkey– Energy - Italian energy company Edison is negotiating a local partnership for power generation
"In Turkey we are negotiating a joint venture with a Turkish partner, but we have not yet disclosed it to the market. We are in the process of discussions" said Edison's CEO.
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Algeria - Recycling
The company Recyclex teams up with a local partner to form Eco Recyclage, and run a facility recycling automotive batteries in Aïn Ouassara.

Cyprus - Mechanics and machinery
Weatherford International, the leading provider of equipment and services for hydrocarbon exploration, to set up a manufacturing and services facility in Larnaca Free Zone.

Egypt - Car manufacturer or suppliers
Brazil's Marcopolo to team up with Egyptian auto importer and manufacturer Ghabbour to set up a 49/51 JV bus assembly plant in Suez.

Israel - Construction
Russian businessman Alexander Nesis' East investment group to acquire a 22% stake in Tel-Aviv-listed construction engineering company Baran Group.

Jordan - Distribution
French energy group Total to incorporate its first 2 Jordanian gas stations in Amman, through a supervision and management contract with the local owner.

Lebanon - Bank
The Dubai-based investment bank Shuaa Capital announced the opening of a branch in Beirut.

Lybia - Energy
Brazil's state-owned oil giant Petrobras to invest USD 21 million in offshore exploration (Area 18).

Malta - Real Estate
Kuwait-based developer Massaleh Development Co to invest EUR100 million in a mixed-use project in the former Mistra Village Complex.

Morocco - Tourism
Intelco, the real estate subsidiary of the Russian gas giant Gazprom to set up Kudla, a local subsidiary in charge of 3 projects in Northern Morocco.

Syria - Bank
The Syrian International Islamic Bank (SIIB) to expand its branches network to 8 by the end of 2008 in Damascus, Hama, Aleppo and Homs.

Tunisia - Car manufacturer or suppliers
The manufacturer of industrial batteries to set up EnerSys-Assad, a 51/49 JV with local automotive battery maker Accumulateur Tunisie Assad.

Turkey - Insurance
The Paris-based insurer to buy Turkish Guven Sigorta and Guven Hayat for TRY 350 million.

Algeria– HSBC receives a green light from the authorities to create its first Algerian subsidiary company
The arrival of the British on the Algerian banking market, in spite of regulatory barriers which remain significant, shows the interest of the foreign operators for a sector with an enormous potential.
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Egypt – Egypt starts the production of laptops
A JV between local Arab Computers Company and South Korea's Daewoo inaugurated a plant near Cairo, which will produce 70,000 portable computers per year to be exported in African and Middle Eastern countries.
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Lebanon – The first Bahraini-Lebanese franchise forum is a success
Organised at the Bahrain CCI, the forum allowed 80 Bahraini companies to meet individually Lebanese potential partners. The Unido, the MENA-OECD Investment Centre brought their support and expertise.
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Libya – New Libyan projects in neighbouring Egypt
"An oil refinery will be built west of Alexandria with Libyan funding and it will be used for Libyan crude" according to Libyan official sources.
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Morocco ,Tunisia, Egypt – 9 Euro-Mediterranean banks unite to facilitate the migrant's transfers of money
This initiative, supported by the EIB and the AFD, aims at lowering the cost of the financial transfers carried out by the members of the Mediterranean diaspora installed on the European continent.
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Palestinian Authority, Israel, Jordan – A subsidiary company of the Suez group will carry out the feasibility study of the Dead Sea - Red Sea channel project
Coyne and Bellier company, subsidiary of the French group Suez, will study the technical feasibility, the economy and environment of the channel project which will connect the Red Sea to the Dead Sea.
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Syria – Brioche Dorée opens its first point of sale in the Syrian capital city
It is currently mulling a proposal to allow foreign interests to hold a 60% stake in locally based banks, rather than the existing 49%.
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Turkey – The Verbund Austrian joins with Turkish Sabanci to take over the public company Bedas
The transaction amounts to 1.23 billion USD. The two operators aim to become the main supplier of electricity in Turkey before 2015.
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16 to 18 October 2008 - Young Mediterranean Leaders Forum, Tunis, Tunisia
The YML Forum intends to bring together every year 200 young leaders from the Maghreb and South European countries.
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17 to 23 November 2008 - 2nd Mediterranean Economic Week , Marseille, France
Save the date and plan to stay in Marseille for this week where over 20 economic events on Mediterranean will be held, including several recurring conferences (Euromed Investment Summit of The Economist, Medinnov 4, the conference on Financing Innovation of Medibtikar program, Rendez-Vous Economiques de la Méditerranée from the Cercle des Economistes and Institut de la Méditerranée, and Aspen Round Table). More information given during the summer.
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Next Invest in Med Biz Board release in September 2008
ANIMA and the Invest in Med team wishes you a nice summer leave and looks forward to seeing your Mediterranean businesses fit back in September !