Post: APIA: Private agricultural investments approved in H1 2024 down 36.5%

Tunis: Private agricultural investments approved by the Agricultural Investment Promotion Agency (APIA) were down 36.5% to TND 145.7 million in the first half of 2024 (H1), compared with H1 2023, according to a statistical bulletin published by APIA on Wednesday.Compared with H1 of the 2018-2022 period, the value of approved private agricultural investments fell by 53.4%.These investments are expected to create 1,160 permanent jobs.They are broken down into TND 94 million for the agriculture sector, TND 30.9 million for the services sector, TND 13.5 million for the fisheries sector, TND 5.8 million for primary processing and TND 1.5 million for aquaculture.Investments approved for young people amounted to TND 21.3 million.Five investment operations for community companies were approved for a value of TND 1.3 million.Investment operations with foreign participation totalled TND 3.5 million, compared with TND 0.3 million at the end of June 2023.The approved investments received subsidies worth TND 47.6 million, accounting for 32.7% of the approved investment volume.Subsidies for the acquisition of agricultural equipment reached TND 20.7 million, i.e. 43.5% of total approved subsidies. The credit rate rose to 24%.Approved investments in photovoltaic equipment hit TND 3.7 million, benefiting from subsidies of TND 1.9 million.Regional development investments fell to TND 6.1 million, compared with TND 5.5 million in H1 2023.Benefit granting committees approved 17 land loans worth TND 2.5 million. These loans will be used to bring 132 hectares of land into the economic cycle.//Reported investment value declines in H1 2024Reported agricultural investments totalled TND 639.2 million in H1 2024, down 6.7% compared with the same period last year.Compared with the first half of the 2018-2022 period, reported investments dropped by 5.1%.Reported investments in the services sector, on the other hand, were up to TND 116.8 million, compared with TND 83.5 million in the same period of 2023.Online re ported investments were worth TND 444.5 million, i.e. 69.5% of the total volume reported.Source: Agence Tunis Afrique Presse