GFH to Invest Three Billion Dollars in 'Tunis Telecom City' Mega-Project

Mergers, Acquisitions and Financial Results

President Zine El Abidine Ben Ali was briefed last Thursday about a project by the international financial company, Gulf Finance House (GFH) to set up a 3 billion dollar mega- project in Tunis dubbed "Tunis Telecom City". The project is expected to generate 26,000 employments.

Issam Youssef Janahi, the executive manager of GFH presented to the Tunisian President the main components of the project which will include an international communication university, a centre for the development of new technologies, a business free exchange zone as well as a technological pole in multi media and content development.

The project, which is set to become one of the most important “technopoles” (ICT business parks) in North Africa, will also include residential and leisure facilities. Following his meeting with President Ben Ali, Mr Jenahi stressed that the choice of Tunisia to house this project was made on the basis of the country's investment incentives.

Evoking Tunisia's ranking by the 2007 Davos Report on ICT readiness, among the first countries in the world, he also noted the important investments made by the country in the sector of ICT promotion. In addition to the 8000 qualified personnel in the sector, these are the reasons that prompted GFH to invest in Tunisia, he said.

Tunisia Online