5 November 2009
Tunis — On the occasion of the creation of spin-off projects by Tunisair, the Tunisia's flag carrier, and Tunisian National Railways (SNCFT), two agreements were penned on Wednesday in Tunis between Mr. Abderrahim Zouari, Minister of Transport and Mr. Afif Chelbi, Minister of Industry, Energy and small and medium enterprises, Mr. Nabil Chettaoui, president and CEO of Tunisair and Néjib Fitouri, SNCFT's CEO.
Under these agreements, the two "spinoff" companies undertake to create an organizational structure, to develop an annual program so as to fix the number and terms of some spin-off projects creations as well as the creation of investment funds for venture capital.
On this occasion, Mr. Zouari stressed the importance of seeing major national companies to join the spin-off program, adding this will contribute to boost investments and jobs.
For his part, Mr. Chelbi recalled the objectives in this sector focusing ondoubling the number of created spin-off projects from 100 to 200 per year, saying that "according to investigations carried out abroad, the chances of success of a new project will double if it is created within the framework of a spin-off project".
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