The Bazaar DC by José Andrés (JF33) Obtains USCIS Project Approval

WASHINGTON, June 12, 2024 (GLOBE NEWSWIRE) — EB5 Capital, a leading EB-5 Regional Center operator, is pleased to report that on May 30, 2024, its restaurant project, The Bazaar DC by José Andrés (JF33), was approved by the United States Citizenship and Immigration Services (USCIS). This Form I-956F approval signifies that USCIS has verified the compliance of JF33, and the individual foreign investors who invested in the project are now closer to obtaining conditional residency in the United States.

The Bazaar DC by José Andrés (JF33) is the development of a 227-seat, approximately 10,000 square-foot, high-end restaurant located in the historic Waldorf Astoria in Washington, DC. EB5 Capital provided a portion of the financing for JF33. The Bazaar DC by José Andrés opened to the public in 2023 and is among 20 EB5 Capital projects in the nation’s capital. In 2019, EB5 Capital also supported the financing of The Ritz-Carlton New York, NoMad, which includes another location of The Bazaar.

EB5 Capital’s JF33 project is owned and managed by José Andrés Group (JAG), a highly reputable and respected restaurant operator based in Washington, DC with nearly 40 restaurant concepts across the United States and internationally, including The Bazaar by José Andrés, barmini, Jaleo, Zaytinya, China Poblano, Oyamel, China Chilcano, in addition to an array of others in its fast-casual division. Sam Bakhshandehpour was recently promoted to Global CEO of the José Andrés Group (JAG), formerly he served as President, and world-famous chef and humanitarian José Andrés, will continue to serve as Founder and Executive Chairman of JAG.

“We would like to congratulate the investors who joined JF33, the first restaurant project in our 40-project portfolio,” said Patrick Rainey, Senior Vice President of Investments at EB5 Capital. “This approval is also a major milestone for our team as it marks our 10ᵗʰ project approved since the EB-5 Reform and Integrity Act of 2022 went into effect.”

EB5 Capital is looking forward to receiving individual I-526E petition approvals from USCIS soon and supporting its investors with the next steps in the immigration process. The firm will continue to identify and execute on EB-5 projects that not only meet the rigorous requirements of USCIS but contribute meaningfully to local communities and economies across the United States.

About EB5 Capital

EB5 Capital provides qualified foreign investors with opportunities to invest in job-creating commercial real estate projects under the United States Immigrant Investor Program (EB-5 Visa Program). Headquartered in Washington, DC, EB5 Capital’s distinguished track record and leadership in the industry has attracted investors from over 75 countries. As one of the oldest and most active Regional Center operators in the country, the firm has raised over $1 billion of foreign capital across approximately 40 EB-5 projects. 100% of our investors’ funds are protected by the Federal Deposit Insurance Corporation (FDIC) insurance prior to their deployment into our projects. Please visit www.eb5capital.com for more information.

Contact:
Katherine Willis
Director, Marketing & Communications
media@eb5capital.com

GlobeNewswire Distribution ID 9152932

TVETs Told To Partner With Industry Player To Commercialize Innovations To Generate Income


State Department for Technical and Vocational Education and Training (TVET) Principal Secretary Dr Esther Mworia has urged Technical Training Institutes to embrace innovation as one way to boost skills development.

Dr Mworia challenged Technical and Vocational Education and Training (TVET) institutes to commercialize innovations invented by their students and tutors to enable them to tap their full potential in generating revenue.

She urged students and instructors at TVETs to forge powerful collaborations with the business sector to translate research findings into industrial resources to create wealth and jobs.

To achieve this, she said TVETs should deliberately march towards becoming the springboards of economic development in the country.

Speaking at the Nyayo Gardens in Nakuru during the Kenya National TVET Fair, Innovations and Skills Competition the PS observed that TVETs carry a weighty responsibility as a catalyst for socio-economic development through the creation of new knowledge, research and
innovation, incubation and entrepreneurship, and the eventual commercialization of outputs emanating from these initiatives.

‘Our TVETs need to play a more proactive role in supporting an innovation ecosystem, especially through recognition of innovation that can be patented.

Commercialization of research is a common practice in most parts of the world where the private sector partners with universities and technical training institutes to develop innovations in sectors such as medicine and engineering, earning technical training institutes and universities extra revenue,’ added the PS.

Dr Mworia noted that the future of TVETs in the country was promising as the sector has embarked on various reforms, among them transition to the Competence Based Education and Training (CBET) curriculum.

‘The CBET curriculum has been developed to respond to current labour market demands and quick evolution of technology to solve the issue of unemployment in the country. The government started by building the capacity of t
utors at the Kenya Technical Training College (KTTC) so that they can be well equipped to roll out a massive pre-service and in-serving training programme for all trainers,’ Dr Mworia said.

She urged TVET boards of governors to source for grants and sponsorship for top innovators in their respective institutions to fund inventions.

Over 300 students from more than 30 TVETs showcased their innovations in the two-day event that was themed ‘TVET for sustainable development and science, technology and innovation for economic resilience’.

Dr Mworia said it is vital and urgent that Kenyan institutions endeavour to inculcate an entrepreneurial mindset among students to not only make them ready for the job market, but more importantly to catalyze a paradigm shift from seeking formal employment to being job-creators and employers by utilizing their creative and innovative abilities.

The event was organised by the Kenya Association of Technical Training Institutes (KATTI).

Acknowledging that science, technology an
d innovations are major drivers and enablers of social and economic transformation, the PS pointed out that applying knowledge and innovation is necessary to attain sustainable economic growth and competitiveness.

She said this reality is urgent in case of emerging challenges such as the Covid-19 pandemic and its adverse effects on the social and economic fabric of the country and the negative impact of climate change.

Dr Mworia noted that research accelerates innovation adding that countries that embrace it have secured a favourable position in a knowledge-intensive, globally competitive marketplace.

The PS indicated that innovative technologies incubated in research labs and businesses should focus on the key sectors of the economy, among them agriculture, tourism, ICT, and manufacturing.

She stated that the county government should initiate partnerships with the private sector to help sponsor top innovators.

TVETs, she added, must be facilitated to create links between learners and industry players to
enable them to advance their innovative ideas and get industrial exposure.

‘Proper policies and guidelines will help TVETs undertake quality research because, through such initiatives, students will tackle challenges like joblessness, illnesses and drought among others. Partnerships with industry players are key in unlocking the innovation potential of many learners in the country,’ Dr Mworia stressed.

She advised TVETs to put in place innovation entrepreneurship and technology hubs to mentor and incubate innovators, adding that research holds the key to unlocking the country’s industrial potential.

The PS underscored the importance of partnerships between TVETs and Youth Polytechnics with private companies towards equipping students with hands-on skills in an industry setting during their time of study.

This, she said, would bridge the skills gap among TVET graduates by ensuring that students spend at least 50 percent of their training working with relevant industries.

‘We need to explore a model where
students are subjected to a combination of theory and practical training, in a real-life work environment through an interchange of training at a TVET institute and in a company,’ Mworia said.

Dr Mworia pointed out that close links between enterprises and training centres have been at the core of the Western World’s economic success since the 19th century.

The PS challenged technical institutes to partner with other stakeholders to further research and innovations.

She said Research and Innovation are key in providing solutions to the country’s problems and more so key drivers in attaining fourth and eighth Sustainable Development Goals (SDGs).

‘Importance of TVETs in SDGs is emphasized on attaining quality education that equips students with lifelong skills to enable them secure decent jobs,’ said Dr Mworia.

As the world moves to the industrial and technological revolution, the PS said there was need for technical institutions and stakeholders to retool the curriculum to align with the current and futur
e industrial needs.

She said reengineering training would provide trainers and trainees with the in-demand skills needed by employers to thrive in their businesses.

‘The rapid change in technology and industrial revolution require us to retool, rescale, remodify our training to be able to meet the demand of the required skills in the industry,’ the PS pointed out.

According to Dr Mworia, the new skills set for the future world of work can be identified through research and analysis of trends in skills requirements.

She observed that the TVET Act 2013 provides for continuous development where teachers are expected to retrain so as to be able to retain the students.

‘In addition to attaching students, we’re also looking at how teachers can also go for attachment every three years so that they’re equipped with new technology in TVETS and industries,’ she said.

Dr Mworia noted that aligning training with industrial needs can have a ripple effect on the economy because businesses are likely to expand and cre
ate new jobs if they are able to find the talents they need.

‘Skills that are acquired through TVET can provide solutions to society, improve on national development, food security and other spheres of life.’

We expect to see technical institutions producing research papers looking into the skills required in the future and the labour market trends,’ she added.

Further the PS mentioned that equipping trainers and training with current knowledge on the effects of industrialization on climate change would promote creation of ‘green’ jobs to reduce pollution in the environment.

She confirmed that the State Department has created a good collaboration in linking with industries and partnering with other countries that have empowered the TVET sector and this has created strong partnerships with industries therefore ensuring that the skills trainees in TVET acquire are precisely what employers are seeking.

‘It has been proven that by collaborating closely with industries, it has bridged the gap between training
and employment, ensuring that our graduates are well-prepared for the workforce,’

The PS appealed to industry partners to open their doors to collaboration with TVET institutions saying that their active involvement in shaping the training programmes, offering internships, apprenticeships, and mentorship opportunities can make a profound impact on the future of the country’s industrialization agenda.

Source: Kenya News Agency

Nakuru Traders To Get Modern Cold Storage Facility


Over 500 traders at the Free-Area Fresh Food Market in Nakuru have a reason to smile after the County government contracted a contractor to build a cold storage facility to spur trading and improve incomes.

County Executive Committee Member (CECM) for Trade, Tourism, and Cooperatives Mr Stephen Muiruri said post-harvest losses will be a thing of the past, thanks to the project initiated by the devolved unit and co-financed by the Global Alliance for Improved Nutrition (GAIN).

Mr Muiruri said the facility once complete will enable traders to keep their produce for long and therefore control prices.

He explained that for generations, agriculture has been a key source of income in Nakuru but decried that lack of cold storage facilities has bogged down the sector.

Speaking during handing over of the site to the contractor to the CECM indicated that Governor Susan Kihika’s administration is taking deliberate steps to make the agriculture sector lucrative and vibrant so as to serve as ‘a source of employment an
d improve livelihoods’.

‘Most of these traders cannot dictate the right price for their produce due to their inability to keep them. They now have a place to store fresh produce at no extra cost,’ added Mr Muiruri.

He noted that the cold room will be a profit booster as it will help traders keep their produce fresh for longer giving them ample time to search for markets. With the cold room, he said farmers will be able to increase the shelf life of fruits and vegetables by up to 28 days.

‘Now that the issue of storage is sorted out, they will have time to concentrate on looking for new markets and negotiate for better prices,’ stated the CECM.

The cold storage facility is expected to contribute to the reduction of food waste and enhance safety standards in food distribution in Nakuru and adjoining counties.

The Food and Agriculture Organization of the UN (FAO) estimates that around 37 percent of food produced in Sub-Saharan Africa is lost at various points along the value chain.

Muiruri indicated that f
armers who supply produce to traders at the market will now be able to diversify to new crops that have high value now that post-harvest losses have been addressed.

He said to reduce the economic costs of unsafe food, the county government had increased expenditure on food safety by investing in infrastructure development, laboratories and cold storage facilities to boost food safety and shelf life.

The cold storage facility will have 500 storage crates, an office, a setting table, weighing scale and a washing area.

These amenities are essential for food safety, and maintenance of product quality.

In addition, GAIN handed over 5 mobile trolleys for garbage collection. This move will enhance hygiene and sanitation within the market.

Given that the traders at the market deal with highly perishable produce and the area is relatively hot, for years, they suffered heavy post-harvest losses because they lacked cold room storage facilities.

Source: Kenya News Agency

EIB willing to support development projects of Ministries of Public Works and Transport, says its VP

Tunis: Ioannis Tsakiris, Vice-President of the European Investment Bank (EIB), reaffirmed the EIB’s willingness to continue supporting the Ministry of Public Works, Housing and Transport in the implementation of its development projects and to examine projects and ways of further strengthening this cooperation in the future.

The Minister of Public Works, Housing and Transport, Sara Zaafrani Zanzari, received the EIB Vice President and his accompanying delegation on Wednesday afternoon on the sidelines of the Tunisia Investment Forum TIF 2024, held in Tunis from June 12 to 13, according to a statement from the Ministry.

The two sides discussed the joint work programme for the coming period, including the technical cooperation agreement for the doubling of National Road 13 between the governorates of Sfax, Kairouan, Sidi Bouzid and Kasserine, which will be signed between the Ministry and the EIB during the Tunis Investment Forum.

The two sides also discussed the prospects for cooperation in the field of tran
sport, including the development of the railway network, according to the same source.

They also reviewed a number of projects financed by the EIB in the fields of infrastructure and housing, looking at ongoing projects and what has been done to ensure their efficient completion.

The Minister praised the EIB’s efforts to support Tunisia’s development process and its contribution to the financing of several strategic projects of the Ministry of Public Works and Housing.

She called for the continuation and strengthening of this fruitful cooperation, particularly in the fields of road infrastructure, housing and transport.

Source: Agence Tunis Afrique Presse

21st edition of TIF 2024 kicks off in Tunis

Tunis: The 21st edition of the Tunisia Investment Forum (TIF) started, on Wednesday afternoon in Gammarth (Northern Suburb of Tunis), with the participation of more than 800 Tunisian investors and foreigners representing thirty countries.

The forum, which will run until June 13 under the theme “Tunisia, Where Sustainability Rhymes with Opportunity,” is organised by the Foreign Investment Promotion Agency (FIPA Tunisia) in partnership with the European Union (EU).

This edition will shed light on the innovation and sustainable investment potential of the Tunisian economy and focus on four sectors with high added value; namely the automotive components, pharmaceutical products, renewable energy, startups and Diaspora.

The 2024 edition of the TIF will represent an opportunity to present the reforms implemented and being prepared by the Tunisian government in order to revitalise the national economy, boost investment and improve the business climate as part of the national reform programme.

It will also highli
ght the competitive advantages Tunisia offers as a destination and strategic platform for investment and win-win partnership, particularly in promising sectors with high added value.

According to the organisers, this new edition will be an opportunity to reiterate the relevance, vivacity and depth of Tunisia’s partnership with the EU, its Member States, their technical and financial cooperation agencies as well as with the multilateral development banks EIB and EBRD.

Foreign investments in Tunisia reached TND 2,522.3 million in 2023, an increase of 13.5% compared to 2022, according to figures provided by the FIPA.

During the first quarter of 2024, foreign direct investments in Tunisia went up by 18%. They amounted to TND 517.4 million compared to TND 438.3 million in the same period of the previous year, an increase of 45.3% compared to 2022 and 49.8% compared to 2021, according to the same source.

The sectoral distribution of FDI shows an increase in the value of investments in the manufacturing industri
es sector to TND 250.5 million at the end of March 2024, compared to TND 234.6 million in 2023, up 6.8%.

During this period, the lion’s share went to the energy sector reaching with TND 176.9 million against TND 116.9 million in 2023, thus posting an increase of 51.3%.

The service sector attracted investments worth TND 84.5 million against TND 52.8 million in 2023, recording an increase of 60.1%. The agricultural sector posted a remarkable increase of 905.8%, going from TND 0.49 million at the end of March 2023 to TND 4.9, at the end of March 2024.

Source: Agence Tunis Afrique Presse

TIF 2004, a unique platform to showcase Tunisia’s investment potential (Marcus Cornaro)

Tunis: The Tunisia Investment Forum (TIF) will serve as a unique platform to forge new partnerships, attract investment and showcase Tunisia’s vast investment potential in various sectors, said European Union (EU) Ambassador to Tunisia Marcus Cornaro.

Speaking in Tunis on Wednesday afternoon at the opening of the 21st edition of the TIF 2024, the European diplomat reiterated the EU’s commitment to support and assist the Tunisian government in its efforts to take the country to a higher level. ‘Tunisia has immense development potential and strong relations with its neighbours,’ he stressed.

This forum has attracted over 1,000 participants, with some 85 European companies registered for the event and ready to continue their cooperation with Tunisia, Cornaro said.

“The EU is supporting this forum within the framework of Tunisia-EU cooperation and in line with the commitments we made together under the Memorandum of Understanding signed last year.”

This MoU, the first of its kind in the region, marks an impor
tant milestone in five pillars of cooperation: macroeconomic stability, economy and trade, green energy transition, people-to-people contacts, and migration and mobility. After nine months, this MoU has already produced tangible results,” Cornaro added.

For his part, Samir Majoul, President of the Tunisian Confederation of Industry, Trade and Handicrafts (UTICA), affirmed that while Tunisia has immense potential, a strong manufacturing base, a skilled workforce and highly innovative companies, it is crucial to implement appropriate policies to stimulate investment and innovation.

This includes removing unnecessary bureaucratic procedures and developing the regulatory framework to encourage business dynamism.

The UTICA president also called for the integration of the growth objective into the central bank’s policy, which should not be limited to controlling inflation.

He stressed the need to introduce a modern foreign exchange code, to promote the internationalisation of the Tunisian economy and to attract
foreign investment.

Source: Agence Tunis Afrique Presse

TIF: Team Europe Initiative ‘Investment in Tunisia’ to be launched on Wednesday

Tunis: The Team Europe Initiative (TEI) ‘Investment in Tunisia’ dedicated to supporting the National Reform Programme in Tunisia, will be officially launched on Wednesday afternoon at the Tunisia Investment Forum (TIF 2024) by EU Ambassador to Tunisia Marcus Cornaro.

According to the EU, the aim of this initiative is to encourage public and private investment that creates decent jobs and supports local development, ecological transition and economic diversification.

The new flagship projects of the TEI ‘Investment in Tunisia’ include ELMED/ELMED+ in the energy sector, MEDUSA in the digital sector, the Sfax-Kasserine Corridor in the transport sector and Relance MSME in the field of support for the private sector.

These new projects complement the more than 120 projects under implementation or in the formulation phase included in the TEI, representing a financing volume of over TND 10 billion for the period 2021-2027.

The TEI ‘Investments in Tunisia’ is intended to rally support for Tunisia’s National Refor
m Programme. In addition to the European Union, it includes five of its member states (Germany, Spain, France, Italy and the Netherlands) and their technical and financial agencies, as well as the multilateral banks EIB and EBRD.

The first priority is to improve the business climate and the general framework for investment, notably by supporting the speeding-up of structural reforms, but also by improving the provision of public services to citizens and economic operators and consolidating the trade partnership between Tunisia and the EU.

The second priority is to upgrade economic infrastructure for a resilient, carbon-neutral economy, notably by securing a sustainable energy supply for households and businesses at a reasonable cost, and improving access to a high-quality digital infrastructure at a reasonable cost.

The third priority is to improve access to finance and support for SMEs, notably by supporting financial inclusion and the emergence of alternative forms of financing, or by mobilising credit l
ines for the benefit of inclusive entrepreneurship that creates decent jobs and local added value, along with the provision of high-quality technical support.

The ‘Team Europe’ initiatives are part of the European Union’s ‘Global Gateway’ strategy, which aims to mobilise up to pound 300 billion of investment between 2021 and 2027 to support a sustainable global recovery. These initiatives aim to increase the coherence and coordination of the combined support of Team Europe members to support programmes with a transformative impact in partner countries.

Source: Agence Tunis Afrique Presse

ARP considers bill on approval of credit agreement to renovate phosphate railway network

Tunis: The Assembly of People’s Representatives (ARP) on Wednesday considers in a plenary session a bill on the approval of a credit agreement concluded on February 22, 2024 between Tunisia and the Saudi Fund for Development (SFD) for the co-financing of a project to renovate the railway network for the transport of phosphate.

Under this agreement, Tunisia will be granted TND 172.7 million (USD 55 million) in funding from the SFD, repayable over 20 years with a 5-year grace period and an interest rate of 2%.

The project to renovate the railway network used to transport phosphate, at a total cost of TND 518 million, is managed by the National Tunisian Railway Company (SNCFT).

The goal of the project is to renovate and upgrade part (190 km) of the railway lines used to transport phosphate, with a view to facilitating the transport of larger quantities of phosphate and optimising costs.

It further aims to boost the SNCFT’s capacity to transport produced and processed phosphate, improve the financial situatio
n of companies operating in the sector, and contribute to the recovery of the national economy.

The project also aims to reduce the maintenance costs of the railway network, much of which has been in operation for over 40 years, to increase the use of new phosphate wagons with a capacity of 3,200 tonnes, and to contribute to regional development and the creation of direct and indirect employment.

The expected objectives of the project are to protect the environment, save energy, reduce traffic on the road network and improve the balance of trade by guaranteeing the transport of larger quantities of phosphate and phosphate derivatives.

The first phase of this project covers the part of the phosphate transport rail network located in southern Tunisia, notably in the governorates of Sfax, Gafsa and Gabes. This first phase will take 2 years to be completed.

The phosphate sector plays an important role in the national economy, accounting for 3% of GDP and for 6% of exports compared with 10% in 2010.

This decl
ine is due to the structural problems facing the sector’s companies.

Source: Agence Tunis Afrique Presse

NACADA Urges Youth To Avoid Drugs, Citing Mental Health Risks


National Authority for the Campaign Against Alcohol and Drug Abuse (NACADA) Nyanza Regional Manager Esther Okenye has urged the youth to avoid drugs and other substances, warning that addiction could disrupt their long-term goals and pose various health risks.

According to a national survey on drug and substance use in Kenya, the prevalence of alcohol use in the Nyanza region is 6.3%, while bhang use stands at 2.4%, making Nyanza the second highest region in terms of consumption.

Ms. Okenye attributed the high prevalence of bhang in the region to its location along the sugar belt, where workers use the drug to endure long working hours, eventually leading to addiction.

Further, she noted that alcohol, particularly ‘chang’aa’, was more prevalent due to the availability of raw materials from the sugar industry.

Okenye highlighted that the fight against drug and substance use, especially ‘muguka’ has intensified in many regions, with Kilifi, Taita Taveta, and Mombasa counties banning it, and Kwale and Machak
os considering similar measures.

‘Our role is to collaborate with county governments to enhance joint enforcement efforts to control drug and substance use,’ Okenye stated, emphasizing that while the World Health Organization classifies drugs, NACADA’s job is to work with governments to formulate policies to combat drug abuse.

Okenye said she believed that the abuse of Muguka and khat (miraa) is widespread because they are legal. ‘Making them illegal, despite being cash crops in the eastern region, will be the only solution,’ she suggested.

Her appeal comes as the world marks Men’s Mental Health Awareness Month of June.

Source: Kenya News Agency

Meeting To End Sickle Cell Underway In Kisumu


A meeting to implement strategies geared towards elimination of sickle cell disease prevalence in Kisumu County is underway.

Kisumu County Executive Committee Member for Health Dr Gregory Ganda speaking during a three-day meeting at Ciala resort said that the meeting was meant to empower and change the residents’ perception on how the disease was affecting them pointing out that they would now have a proper plan for containing the disease in Kisumu for the next five years.

Ganda disclosed that research indicated that one out of every five children born in Kisumu have sickle cell.

‘The conference’s main agenda is sickle cell and haemophelia whose prevalence has been cited as high in Kisumu and in the lake region economic bloc including the coastal areas thus the Ministry of Health is working with stakeholders in a campaign to highlight the sickle cell disease since it has affected many people,’ he pointed out.

Ganda decried the helplessness among Kisumu residents on sickle cell yet no one has come out to r
ally the sickle cell campaign noting that now they have rolled out the campaign and set long term plans for the next five years to mitigate the condition in the county.

Source: Kenya News Agency