Why Tunisia is Africa's most competitive economy: Tunisia continues to add to its already impressive collection of international accolades: in 2009 the World Economic Forum's Global Competitiveness Report has ranked Tunisia as the Most Competitive Country in Africa and the Global Peace Index has identified the country as the Most Peaceful in Africa.

The Middle East › Nbr. 2009, January 2009

Author: Versi, Anver

Position:: SPECIAL REPORT - Country overview

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SPECIAL REPORT - Country overview

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Why Tunisia is Africa's most competitive economy: Tunisia continues to add to its already impressive collection of international accolades: in 2009 the World Economic Forum's Global Competitiveness Report has ranked Tunisia as the Most Competitive Country in Africa and the Global Peace Index has identified the country as the Most Peaceful in Africa.

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These highly sought-after rankings have very significant implications even in the best of global economic conditions: in the current downturn when the trend is divestment rather than investment, they are worth their weight in gold.

These two factors, economic competitiveness and social and political stability, say analysts, have enabled this North African country to absorb the impact of the global economic crisis and emerge virtually unscathed. There has been no significant job loss and the volume of inward investment continues to rise.

If anything, in these jittery times, international investor confidence in the long-term viability of Tunisia as an investment destination appears to have increased. None of the 3,000-odd foreign companies, representing most of the world's top brands, have closed down. Instead, a number of companies, including German car-parts makers Kromberg & Schubert, Draxlmaier and Koroplast; Korean firms Sumotomo, Yura Corporation and Yazaki among other international businesses, have either moved their European headquarters or their key operations to Tunisia. They believe the country's unique combination of a central geographic position vis-a-vis Europe and its world-class investment climate will enhance their efficiency and thus make them more competitive in an increasingly challenging global business environment.

The greater efficiency--including the availability of highly qualified local staff--and thus cost cutting that Tunis...

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