Investment Dynamics in Tunisia: A Follow-Up Study
A follow-up study on 338 major projects declared between 2021 and 2024 provides an overview of the investment dynamics in Tunisia. The study, conducted by the agency for the promotion of industry and innovation and the Ministry of Industry, covers a volume of declared investments of 3,016.1 million dinars (Mtnd) for the creation of 25,921 jobs, highlighting encouraging results, but still below expectations.
Key Findings
As of June 30, 2025, 72.2% of the projects surveyed have been effectively realized. However, the amounts committed have only reached 48.8% of the announced investments, i.e., 1,471 Mtnd, and only 42.3% of the planned jobs have been created, with 10,960 positions created. These figures reflect a contrasting reality: while the majority of projects are being implemented, they do not always reach their full financial and social dimension.
Project Extensions: The Main Driver of Economic Dynamics
Project extensions appear to be the main driver of economic dynamics. They account for 80% of the investment realized (1,172.9 Mtnd) and 93% of the jobs created (10,182 positions). Their realization rate, estimated at 84.1%, remains significantly higher than that of new creations (46.2%). This trend confirms that already established companies find a more favorable environment for expansion than new entrants.
Investment Regimes
On the side of investment regimes, totally export-oriented projects are the most job-creating, with 8,266 positions, nearly four times more than projects intended for the local market. Their job realization rate reaches 49.4%, compared to 29.3% for other regimes. In contrast, investments realized are more dominated by projects oriented towards the local or mixed market, which represent 62% of the total, i.e., 910.3 Mtnd.
Role of Local Investors
The study also reveals the determining role of local investors. Tunisians ensure 60.3% of the investments realized and 69% of the jobs created. Projects with foreign participation, although representing a smaller share, show remarkable efficiency, with a realization rate of 89.5% in terms of the number of projects and 71.9% in terms of investment volume. Mixed projects, on the other hand, struggle to realize their ambitions, particularly in terms of employment (20.1% realization).
Sectoral Breakdown
Three branches concentrate the investments realized: agro-food industries (31.9%), mechanical and electrical industries (25.8%), and diverse industries (17.6%). In terms of employment, the textile, clothing, and leather sector dominates, with nearly half of the positions created (49.9%), followed by mechanical and electrical industries (2,165 jobs) and agro-food industries (1,272 jobs).
