Entrepreneurs, managers of international financial world as well as 72 heads of state and finance ministers from several countries are expected to Tunis 29 and 30 November next on the occasion of Tunisia 2020, the International Conference for the support of economic development, social and sustainable Tunisia, during which the Five-Year Plan of Tunisian Development 2016-2020 will be presented.

“We have many competitive advantages in Tunisia and this will be an opportunity to explain the economic actors”, Mourad Fradi, Commissioner-General to the Conference says. The event is organized by the Ministry of Development, Investment and International Cooperation, in collaboration with the Tunisian foreign ministry.

The conference program will focus on the five points of the Tunisian development plan (governance and administration reform; infrastructure and major projects, human development and social inclusion, regional development, sustainable development and green economy) and will address specific themes 9 in 4 sessions plenary, particularly digital economy, tourism, education, aviation industry, mechanical and automotive, healthcare and pharmaceutical industry, textile, electricity and renewable energy, agriculture, food processing and water management.

(ITALPRESS/MNA).

Source: medNews

The US group Eaton, specializing in the production of energy management systems, has opened in recent days the new production site in the free zone Midparc in Casablanca. It is a new factory of some 13,500 square meters, which replaces the previous one, which was located in the town of Berrechid. Following this expansion, which involved an investment of 12 million dollars, the Eaton workforce in Morocco will increase from 300 to 500 employees. Among the reasons that have encouraged this investment in Morocco, according Revathi Advaithi, director of operations for the electrical sector Eaton insist the skilled workforce, economic stability and the proximity to the ‘Key’ customers of the company, Europe and Africa. Frank Campbell (president of Eaton’s electrical sector for Europe, Middle East and Africa) has also expressed its intention to continue to take in the future local workforce, which now represents 99.9% of the workforce. Globally, the Eaton group recorded a turnover of 20.9 billion dollars in 2015; the company has about 96,000 employees worldwide and markets its products in more than 175 countries.

Eaton specializes in energy management systems, hydro-magnetic switches, accessories for inverters and power distribution units and directed their production of the aeronautical, defense, IT, telecommunications, housing construction. The American giant, present in Morocco for forty years, he first made his debut in the commercial sector and then spread in the industrial sector for about 17 years.

Moulay Hafid Elalamy, Moroccan Minister of Industry, announced that the new factory will cater to local subcontractors to the extent of 20% at the start of production. One of the US industry suppliers will be the Aluminium du Maroc group. During his speech, the Minister noted that the new factory in Casablanca Eaton will produce electronic components that until now were manufactured in China, but from now on will be fully realized in Morocco.

(ITALPRESS).

Source: medNews

“Valuing Mediterranean specificities of agriculture and its products to place them with greater force to the center of the European agenda to avoid being sacrificed on the altar of international political games without any consideration of the impact on the territory, health, environment and employment”. This is the objective of the Task Force Mediterranean desired by the president of Coldiretti Roberto Moncalvo, first vice-president of European farmers, Copa, and approved unanimously by the EU agricultural organizations and cooperatives. The initiative – said Moncalvo – the eve of the ratification of the agreement between the European Union and Southern African Development Community, primarily South Africa to increase the input subsidized period of oranges, after similar agreements have resulted in the invasion of Tunisian olive oil, Moroccan tomato, Cambodian rice and Vietnam with a heavy impact on Mediterranean production. This is to protect a European heritage that not only generates wealth and jobs thanks to record-breaking numbers for added value and high use of labor compared to other sectors but – continues Moncalvo – allows you to bring the EU and worldwide market the highest quality products as evidenced the recognition of the Mediterranean diet as intangible heritage protected by UNESCO. “The Mediterranean is not only the cradle of civilization and values that are the basis of our Europe – says the president Moncalvo – but also offers significant prospects for development of agriculture and the EU economy.

(ITALPRESS).

Source: medNews

Leonardo-Finmeccanica announced that an industrial and trade partnership agreement was signed with the Algerian Ministry of National Defence on August 11th.

The agreement foresees the establishment of a joint company to produce light and medium weight category helicopters at an industrial site in Aïn Arnat. After the completion of the facility and during the early years of activity, the joint company aims to manufacture three different AgustaWestland helicopter types for various uses including transport, medical evacuation, surveillance and control.  

The joint company will also benefit from a local and international distribution network and aftersales services including a range of repair and overhaul capabilities and training solutions for the Algerian Ministry of National Defence and other customers. The industrial programme will also support the development of high technology capabilities in the field of aeronautical material production.

(ITALPRESS/MNA).

Source: medNews

The Tel Aviv metropolitan area, better known as the Gush Dan region, continues to live a season of development linked to the industry of high-tech, research centers of large multinational corporations and capital inflows collected by venture local and international capitalists. This increases the rate of attractiveness of the Region, however, making it the busiest hub of the country.

As planned by the Authorities and reported by the Ynet news website, by 2026 should begin work on the construction of a new underground system that interconnects all quadrants of the Region. The first estimates of the budget required are around NIS 140 billion, or about 35 billion euros.

In this regard the company NTA, manager and operator of the construction of the subway lines in Tel Aviv, has published this week a call to involve large international company in order to draw up a feasibility plan for the construction of 3 new lines in three lines, the north-south, the east to the sea and the ring that you should connect to the red line, already under construction, and the purple and green line (at an advanced stage of planning).

(ITALPRESS).

Source: medNews

The Durres Port Authority data reveal that in the period from January to August of this year, 625,348 passengers were recorded in the largest port in Albania. A higher figure of 12% over the same period last year. The main destinations were the ports of Bari, Ancona and Trieste (Italy). According to statistics, the ferries carried out in eight months a total of 717 trips (30 trips more than in January-August 2015). The ships transported about 500 thousand tons of cargo, about 1% more than in the same period last year.

(ITALPRESS/MNA).

Source: medNews

The Algerian government will soon adopt new restrictions on imports. The object of the measures should be produced between 1700 and the 2000. In practice, the measures will be implemented through the banking system: the Algerian banks will in fact have the task of prohibiting banking domiciliation for the import of the products included in the “blacklist”. There will also start a study to evaluate the benefits and consequences of such an initiative on currency reserves. According to the latest financial reports published by the Central Bank of Algeria, foreign exchange reserves fell stabilizing at 144.13 billion dollars at the end of December 2015 compared to 159.03 billion dollars at the end of June 2015 and 178.94 billion dollars at the end of December 2014.

(ITALPRESS/MNA).

Source: medNews

The consolidated fund deficit decreased by €33.8 million between January and July 2016 when compared with the same period last year as Government expenditure increased by just €1.3million or 0.1 per cent while recurrent revenue increased by €35.1 million or 1.9 per cent.

Recurrent revenue grew as a result of robust economic growth, with revenue from taxes increasing by €148.4million over the same period when compared to 2015.

The remarkable increase in net revenue was achieved in spite of the significant fall in EU grants reflecting the closure of the European Union financing period 2007-2013 at the end of last year. Reductions in the EU grant component is being balanced by lower EU funded capital expenditure. In fact, capital expenditure for the first seven months was €90.6 million lower than the peak of the previous year.

Minister for Finance, Prof. Edward Scicluna remarked that “It is encouraging to note that the first half of the year the deficit is being held in check. We will now have to ensure that this positive financial performance is continued to be kept throughout the whole year”.

(ITALPRESS/MNA).

Source: medNews

The European Commission announced that it has approved Malta’s scheme to support large scale renewable energy installations. The intent of the Maltese Government’s proposed scheme, as part of the energy roadmap, was primarily for photovoltaic installations with a capacity of at least 1MWp, and may apply to wind farms in possession of a development approval.  

The scheme has been assessed by the European Commission and found compatible with the 2014 guidelines on state aid for environmental protection and energy in view of its beneficial impact on the environment and minimal distortion of the market. The maximum budget to be allocated between 2016 and 2020 will be around €140 million. This would be paid in the form of a premium above the market price of electricity over the 20 year guaranteed support period.   

Currently, over 80MWp photovoltaic capacity have already been installed in Malta.

The new scheme is essential for Malta to develop clean energy and is expected to provide support for at least 55% of the remaining 110MWp Photovoltaic capacity which still needs to be developed by 2020. Smaller systems shall continue to be supported through existing feed-in tariff schemes and grants.

Support shall be allocated through a competitive process whereby prospective project developers will be able to submit a sealed bid for a support level corresponding to a specific capacity. Different ceilings shall apply depending on the installation type. However, all submissions will ultimately compete together. This will ensure that the most cost effective sites are developed first.  

This scheme shall be complimented by the Solar Farm Policy which will determine suitable sites for the development of large scale photovoltaic systems and minimize the impact on the landscape.

Minister Konrad Mizzi welcomed the green light received from the European Commission and highlighted that this will incentivise significant investment by the private sector in green energy. He also highlighted that, over the last three years, the Government turned around the renewable sector and is now committed to sustain the momentum for further reducing emissions.

(ITALPRESS/MNA).

Source: medNews

Minister for Foreign Affairs George W. Vella received the High Commissioner Designate of the UK Stuart William Gill, Ambassador-Designate for the People’s Republic of China Jiang Jiang, Ambassador-Designate for Uruguay Gaston Lasarte, and Ambassador-Designate for Iraq Ahmad Bamarni.

Welcoming the new British High Commissioner Stuart William Gill to Malta, Minister Vella referred to the historically good relations between Malta and the UK, as well as the Commonwealth Heads of Government Meeting held in Malta last year, and Her Majesty’s and other Royal Family members’ visit. Minister Vella noted that Brexit would feature prominently during Malta’s Presidency of the Council of the European Union during the first six months of 2017. Malta is already contemplating the approach to be taken in this respect and will strive to see excellent relations evolving between the EU and the UK. Minister Vella also noted that tourism from the UK is booming. Further to this, Minister Vella thanked the United Kingdom for attaching an expert to Malta during its upcoming Presidency. Meanwhile, the High Commissioner stressed the continuity in relations between the two countries and assured the Minister that he would strive to further develop relations between the UK and Malta.

Minister Vella also held a meeting with the Ambassador-Designate of China Jiang Jiang. Minister Vella began by expressing satisfaction with the excellent relations shared by the two countries, underlining their special relationship as one which is highly dynamic and beneficial. The Minister outlined the importance of continued cooperation on trade and other sectors, and referred to Malta’s involvement in China’s 21st Maritime Silk Road Project and its founding member status of the Asian Infrastructure Investment Bank. The Minister also underlined the importance of further cooperation between the EU and China, and that Malta will continue to promote the intensification of these relations. Ambassador Jiang Jiang conveyed his admiration at how the relationship between the two countries has developed, and stated that both countries have coordinated closely on international issues and cultivated strong relations. The Ambassador expressed his commitment to the strengthening of relations between China and Malta.

During his meeting with the Ambassador-Designate of Uruguay Gaston Lasarte, the Minister outlined the need to explore possible areas of cooperation in order to further strengthen the relations between Malta and Uruguay, particularly in the trade, culture, education and maritime sectors. On his part, Ambassador Lasarte expressed his commitment to deepen the relations between the two countries. Discussions were also held on the EU’s relations with the Community of Latin America and Caribbean (CELAC) and the Southern Common Market (MERCOSUR), as well as the challenges currently being faced in Latin America. 

The Minister also received the Ambassador-Designate of Iraq Ahmad Bamrani. In recalling the long-standing bilateral relations with Iraq, the Minister referred to developments on the ground and the need to counter terrorism in the country. Minister Vella expressed his hope that the progressive efforts being undertaken to ensure the liberation of Mosul would result in a turning point that would bring hope and motivation to the Iraqi people. Discussions also touched upon the reforms being undertaken in Iraq in order to restore stability to the country and the region, as well as the dire humanitarian situation in Iraq.  Both sides also referred to the relations between the EU and the League of Arab States, and the Minister underlined the important role of the European Commission-League of Arab State Liaison Office (ECLASLO) based in Malta in this regard.

(ITALPRESS/MNA).

Source: medNews