U.S. Entrepreneurship Delegation Visits Tunisia, Algeria, Morocco

U.S. State Department Special Representative for Commercial and Business Affairs Lorraine Hariton is leading a delegation of “American entrepreneurs, early-stage investors, non-governmental organization representatives, and academics” to Tunisia, Algeria, and Morocco. The visit, which began October 27 and will continue through November 2, is sponsored by Partners for a New Beginning U.S. – North Africa Partnership for Economic Opportunity (PNB-NAPEO).

The delegation “seeks to foster and deepen relationships between U.S. investors and entrepreneurs and their local counterparts in emerging markets. The event will showcase local talent in the Maghreb region through pitching sessions to potential investors; mentoring meetings between fledgling entrepreneurs and established entrepreneurs; angel investor roundtables; and networking opportunities.”

Talal al-Zain, CEO of Bahrain-based investment firm Mumtalakat, asserts that “there is so much needed in these countries. As the Arab spring settles, we will see a lot more interest from the region, sovereign wealth funds and foreign investors going in,” in order to address economic problems, including youth unemployment. Andrew Hammond reported that in Tunisia, “unemployment was at 14 percent before Ben Ali fell, and one third of the jobless had higher education. The figure is thought to have worsened in recent months.”