Last week, the American financial services group Fidelity Investments canceled its project to create an information and communication technologies (ICT) center in Ennahli, a city near Tunis in the governorate of Ariana.
According to the Tunisian Ministry of ICT, Fidelity had been considering the project for over two years, and the center would have employed around 1,400 job-searching college graduates in the field of ICT.
On January 23, Tunisian Prime Minister Hamadi Jebali met with a representative of Fidelity, Detlef Spargi, who declared that his asset management company was planning to follow through with construction of the facility.
Ennahli was the site where Fidelity had planned to construct the ICT center.
“We made the decision to not move forward with the construction of a technology center campus in Tunisia based on the continued uncertainty of the global economy,” explained a spokesperson of Fidelity to Tunisia Live. “Based on these market conditions, it does not make sense at this time for us to enter into a major capital project.”
However, the project’s cancellation does not mean that Fidelity is drawing down its operations in Tunisia, which, on the contrary, are continuing to expand progressively.
Fidelity is one of the largest financial services groups in the world, and has been active in Tunisia through its local branch of HR Access Solutions.
There has been a net increase in American investments since the revolution, with the arrival of three new companies and an increase in the investments of companies already present.