Tunis Financial Port: Thousands of Jobs Created
20 March 2014
Read by 1885 persons
Tunisia will have its first financial hub for banking institutions in North Africa, and this is no longer a dream, but a step towards its realization. Yesterday, the signing ceremony of the agreement between the Gulf Finance House (GFH) and the Tunisian construction company, Tunis Bay Project Company, responsible for the construction of the Financial Port (Tunis Financial Harbour) in the Raoued region, took place. This will mark the start of the construction site on March 15.
Speaking after the signing of the agreement, Hichem Rayess, Executive Chairman of GFH Investment Bank, stated that GFH had been waiting for the right time to begin construction. "The global economic crisis of 2008, the Tunisian revolution, and then the difficult, complex, and lengthy administrative procedures delayed the execution of the mega-project," he continued.
He added: "As soon as we realized that the political and security situation in Tunisia was becoming more and more stable, we decided to sign the contract."
Responding to a question about the project's timing, which coincides with the rise of an Islamist government, the executive director confidently responded that it was a project and not a political initiative, thus denying the existence of any political agenda behind this mega-project.
The impact of the Tunis Financial Port on employment is considerable. The project's executive director, Lotfi Ezzar, announced significant employment figures. According to him, 600 jobs will be created at the start of the project, 1200 after four months, and between 5000 and 6000 jobs in its first year, reaching 12,000 jobs in the final phase.
A colossal budget has been allocated to the project: three billion dollars by the Gulf Finance House and the Islamic Development Bank (IDB).
Hamza Marzouk.
Leconomistemaghrebin.com
Published March 11, 2014.
Posted online March 14, 2014.
Speaking after the signing of the agreement, Hichem Rayess, Executive Chairman of GFH Investment Bank, stated that GFH had been waiting for the right time to begin construction. "The global economic crisis of 2008, the Tunisian revolution, and then the difficult, complex, and lengthy administrative procedures delayed the execution of the mega-project," he continued.
He added: "As soon as we realized that the political and security situation in Tunisia was becoming more and more stable, we decided to sign the contract."
Responding to a question about the project's timing, which coincides with the rise of an Islamist government, the executive director confidently responded that it was a project and not a political initiative, thus denying the existence of any political agenda behind this mega-project.
The impact of the Tunis Financial Port on employment is considerable. The project's executive director, Lotfi Ezzar, announced significant employment figures. According to him, 600 jobs will be created at the start of the project, 1200 after four months, and between 5000 and 6000 jobs in its first year, reaching 12,000 jobs in the final phase.
A colossal budget has been allocated to the project: three billion dollars by the Gulf Finance House and the Islamic Development Bank (IDB).
Hamza Marzouk.
Leconomistemaghrebin.com
Published March 11, 2014.
Posted online March 14, 2014.
