Tunisie Telegraph: Who Bears Cost of Calls for Nationalization

The article revolves around the repeated calls in Tunisia to nationalize foreign companies operating within the country, especially in strategic sectors such as energy and water, with the aim of defending economic sovereignty and national wealth. It clarifies that the term "nationalization" carries serious legal and economic repercussions, as investors lose confidence and postpone or cancel their investments, adversely impacting growth and job creation. Tunisia, in particular, needs to attract foreign investment to compensate for slow economic growth and a high unemployment rate, which reaches 14.9%. The figures indicate that foreign investments in 2025 amounted to 3.572 billion Tunisian dinars, generating over 11,500 jobs. Foreign companies, such as French, Italian, and German firms, provide approximately 353,000 direct employment opportunities, accounting for about 10% of the total workforce. Additionally, the trade balance with these countries tends to favor Tunisia, with trade surpluses, reflecting that the presence of foreign companies supports the economy. The article emphasizes that the best solution for dealing with violating companies is to apply legal and regulatory sanctions, rather than nationalization, which is an exceptional decision that should be based on clear legal and economic foundations. Managing nationalized institutions presents significant challenges that require expertise and substantial resources to address. Ultimately, the article warns that rhetoric advocating for nationalization may send negative signals to investors. It recommends focusing discussions on improving the investment climate and enhancing the state's role in oversight and licensing processes, rather than moving toward policies that might push capital to seek more stable and secure environments.

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