Tunis Telecom City: A $3 Billion Project Prioritizing Tunisian Workforce
21 July 2008
Read by 1517 persons
The House of Advisors adopted on Thursday, July 16, the bill on the megaproject "Tunis Telecom City". The project authorizes the state to honor its commitments under the investment agreement concluded with the Bahraini group "Vision 3 Alliance" for the creation of "Tunis Telecom City" in Kalaat Landalous (Ariana governorate).
Born from a strategic alliance between three major financial institutions from the Gulf countries, Gulf Finance House (GFH), Ithmaar Bank and Abu Dhabi Investment House, the Vision 3 Alliance group will carry out the project on a 260-hectare site owned by the state.
This project's main components include: an international university of communication, engineering and management, an international communication exchange, a training center, a center for research and development of technologies and another for the preservation and recovery of data in case of disasters.
The investment agreement provides tax incentives for the project promoter, particularly during the period of the project management company's creation, development operations, as well as specific advantages for offshore companies located on the site.
In his response to the advisors' interventions, Mohamed Nouri Jouini, Minister of Development and International Cooperation, stressed that this "Tunis Telecom City" project, costing $3 billion, will, in a first phase, provide no less than 11,000 jobs for university graduates and generate an additional 15,000 jobs after the completion of all its components.
He recalled that, under this agreement, the promoter must prioritize Tunisian labor for the project's implementation. The minister noted that the agreement's clauses, including those relating to incentives granted to the promoter, are in line with the legislation governing foreign investment in Tunisia.
He indicated that the promoter's obligations, essentially related to achieving quantitative objectives, remain dependent on the project's progress and the general macroeconomic framework.
For his part, El Hadj Gley, Minister of Communication Technologies, announced that Tunisia, with its favorable investment climate and qualified human resources, has become a hub attracting multinationals specializing in promising and innovative fields. He stated that, in a first phase, "Tunis Telecom City" will attract some 500 foreign companies, a number that, he said, will rise to 1000 companies after its completion.
The minister emphasized the importance of complementarity between this project and the El Ghazela technopôle, which currently has 80 companies employing around 1500 engineers.
M. Gley affirmed that Tunis Telecom City also includes the establishment of a modern communication network to enable the project management company to provide technological services that best meet the needs of companies located on the project site.
Regarding Tunisian labor specialized in ICT, the minister announced that 50,000 students are pursuing studies in scientific fields, noting that a program for certifying skills specialized in promising fields has already been developed. This program will involve 20,000 students during the period (2009-2013), he continued.
Posted on July 20, 2009
tunisiait.com
Born from a strategic alliance between three major financial institutions from the Gulf countries, Gulf Finance House (GFH), Ithmaar Bank and Abu Dhabi Investment House, the Vision 3 Alliance group will carry out the project on a 260-hectare site owned by the state.
This project's main components include: an international university of communication, engineering and management, an international communication exchange, a training center, a center for research and development of technologies and another for the preservation and recovery of data in case of disasters.
The investment agreement provides tax incentives for the project promoter, particularly during the period of the project management company's creation, development operations, as well as specific advantages for offshore companies located on the site.
In his response to the advisors' interventions, Mohamed Nouri Jouini, Minister of Development and International Cooperation, stressed that this "Tunis Telecom City" project, costing $3 billion, will, in a first phase, provide no less than 11,000 jobs for university graduates and generate an additional 15,000 jobs after the completion of all its components.
He recalled that, under this agreement, the promoter must prioritize Tunisian labor for the project's implementation. The minister noted that the agreement's clauses, including those relating to incentives granted to the promoter, are in line with the legislation governing foreign investment in Tunisia.
He indicated that the promoter's obligations, essentially related to achieving quantitative objectives, remain dependent on the project's progress and the general macroeconomic framework.
For his part, El Hadj Gley, Minister of Communication Technologies, announced that Tunisia, with its favorable investment climate and qualified human resources, has become a hub attracting multinationals specializing in promising and innovative fields. He stated that, in a first phase, "Tunis Telecom City" will attract some 500 foreign companies, a number that, he said, will rise to 1000 companies after its completion.
The minister emphasized the importance of complementarity between this project and the El Ghazela technopôle, which currently has 80 companies employing around 1500 engineers.
M. Gley affirmed that Tunis Telecom City also includes the establishment of a modern communication network to enable the project management company to provide technological services that best meet the needs of companies located on the project site.
Regarding Tunisian labor specialized in ICT, the minister announced that 50,000 students are pursuing studies in scientific fields, noting that a program for certifying skills specialized in promising fields has already been developed. This program will involve 20,000 students during the period (2009-2013), he continued.
Posted on July 20, 2009
tunisiait.com
