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SAIC Motor, China’s largest carmaker and top vehicle exporter, plans to establish a joint venture manufacturing facility in Tunisia with local company Meninx Holding. The plant will specialise in the production of Morris Garage-branded vehicles and will export to African and European markets.
On September 4, 2018, an official agreement was signed in Pekin during the Forum on China-Africa Cooperation (FOCAC) in the presence of Youssef Chahed, Prime Minister of Tunisia.
The announcement follows an FDI attraction program in China, Japan and Canada delivered by WAVTEQ as part of a contract with the World Bank to support the Foreign Investment Promotion Agency (FIPA) of Tunisia to attract FDI.
WAVTEQ targeted automotive, aerospace, electrical components and agribusiness companies in China to promote the investment opportunities in Tunisia, with SAIC one of the key companies identified as having strong FDI potential for Tunisia.
WAVTEQ organized an investor prospecting mission to China in May 2018 for senior staff from FIPA to meet with high potential Chinese investors.
WAVTEQ’s China team facilitated the meetings between senior representatives of SAIC Motors and FIPA’s government delegation, which fostered a comprehensive and reliable introduction of Tunisia’s automotive sector and the government support available.
We wish SAIC and the new Joint Venture the best of success and we would like to thank the World Bank and FIPA for appointing WAVTEQ to help secure investments into Tunisia