(Ecofin Agency) - According to statistics released by the Tunisian Foreign Investments Promotion Agency, foreign direct investments (FDIs) in Tunisia rose 18% to $177.68 million during Q1 2017, as compared to the same period the year before.

Amongst sectors that captured most foreign investments are manufacturing and services. The first attracted $59 million worth of FDIs while the second attracted $23 million.

Tunisia hopes to attract more foreign investment in order to revive its economy which has been staggering for some years now. This month, Tunisia implemented a new law which aims to make it easier for foreign investors to transfer their profits out of the country.

The new law suppresses tax on profit for major projects over a period of 10 years. It will also lead to the establishment of an investment fund which will help finance infrastructure projects and encourage investors to launch major projects in the country’s most marginalized areas.

Fiacre E. Kakpo