Nearly 72% of Tunisian-French companies posted growth or stability in their turnover, showing "notable" resilience despite an "uncertain" economic context, reveals the 2023/2024 economic barometer of the Tunisian-French Chamber of Commerce and Industry (CCITF) presented on Wednesday by its Secretary General Mohamed Louzir. The barometer, which surveyed 180 Tunisian and French business leaders who are members of the chamber and analyses the impact of the economic climate on the performance of Tunisian-French companies, showed that 69% of respondents reported stable or rising investment in 2023. When asked about the business environment in Tunisia over the past year, in this survey conducted between November and December 2023, companies deplored the worsening of the business environment. For a large majority (72%) of the companies surveyed, the economic environment was perceived as "unfavourable" in 2023. The political climate was also considered "unfavourable" by 62% of companies. The same applies to the s ocial environment, insofar as 45% consider it to be not conducive to investment. Despite this gloom, 55% of companies expect their sales to improve in 2024, while only 15% expect them to fall. A breath of optimism for 2024 This suggests a relative optimism and the first signs of a revival in investment in the new year," commented the Chamber's Secretary General, pointing out that 73% of companies expect their investment to increase or remain stable. He added that 40% of companies with 100% Tunisian capital are planning to step up their investments in 2024, compared with over 46% of French companies or companies with French participation. With regard to the development of trade relations with France in 2024, the survey shows that more than 42% of companies expect their trade to improve. Furthermore, over 37% of the business leaders interviewed expect an increase in flows to Africa. This indicates, Louzir underlined, that the Chamber member companies are tending to focus more and more on Africa, pointing out that Tunisia is thus used as a gateway to Africa. With regard to the perception of Tunisian-French entrepreneurs of the business environment in Tunisia in 2024, the barometer reveals that they are banking on a 13% improvement in the economic climate compared with 2023. They also expect a 9% improvement in the political environment compared with the previous year. When it comes to the factors impacting on their activities, the business leaders mainly cited the "very high" tax burden, the economic situation, the red tape, the inflationary trend and geopolitical conflicts. According to business leaders, the most sought-after measures for spurring economic activity are notably new financial and tax incentives and streamlining administrative procedures. The barometer also confirmed that attention to the ecological transition is growing. In fact, over 40% of Tunisian-French entrepreneurs say that health, well-being, technological development and investment in innovation are short-term objectives in terms of sustainable development. Conducted among companies located mainly in north-east Tunisia with a workforce of 50 or fewer, the main goal of this barometer is to understand the key trends affecting the Tunisian and French business fabric. Founded in 1974, the Tunisian-French Chamber of Commerce and Industry comprises over 2,000 Tunisian and French members (natural and legal persons). France remains the leading foreign investor in Tunisia, with more than 1,600 companies employing some 150,000 people, according to Chamber's figures. Source: Agence Tunis Afrique Presse
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