A computer-generated rendition of the project.
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Bahrain's Gulf Finance House will start building a $3 billion financial park and real estate development north of Tunisia's capital, a project that had been suspended for five years, the Islamic investment bank said Monday.The project will be one of the largest private foreign investments in the North African state, which has struggled to revive its economy since the revolution that toppled former President Zine al-Abidine Ben Ali three years ago.GFH's project was scheduled to begin in 2009, but financial difficulties at the Islamic bank and Tunisia's 2011 uprising froze several large-scale projects.Tunisia has promoted its lower labor costs to entice the manufacturing and services businesses from nearby Europe, but economists say that it needs to improve an outdated banking sector to make the most of new investment.
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