Wavteq helps facilitates a 2000 job project in Tunisia as part of an IFC engagement

An announcement has recently been made by Sumitomo of Japan of a €14M investment in an electrical components facility in Tunisia creating an initial 2,000 jobs with the intention to grow to 5,000 jobs.

As part of an International Finance Corporation (IFC) engagement, Wavteq was contracted to support FIPA, Tunisia’s national investment promotion agency, with capacity building and overseas investment missions to Canada, China, and Japan. Sumitomo was identified as a strategic potential investor and was invited to an Invest in Tunisia seminar in Tokyo organized by Wavteq in December 2017. A follow-up meeting between FIPA and Sumitomo was facilitated by Wavteq to discuss in more detail the investment opportunities in Tunisia and alignment with the company’s FDI strategy. 

We are delighted Sumitomo has selected Tunisia for this project which brings 2000 jobs and the opportunity to grow to up to 5000 jobs – a significant win and testament to our excellent offer of a cost-effective operational base combined with the availability of labour and a welcoming business climate. This project will have a transformative impact on the local economy. The initial opportunity was introduced as part of a trade mission organized by Wavteq, and then developed and secured through the efforts of our local team working in conjunction with Sumitomo.

Mr Abdelbasset Ghanmi, Director General of FIPA Tunisia

Wavteq is proud to have uncovered this opportunity for Tunisia which has resulted in one of the largest job creation projects of 2019. FDI remains a cornerstone of economic development and this project demonstrates the importance of investment attraction efforts by national investment promotion agencies as well as the additional funding received to support these programmes from international organizations. It also demonstrates the importance of in-market activities such investment seminars and 1:1 meeting programs to help accelerate investment attraction.

Dr Henry Loewendahl, CEO of Wavteq

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