Foreign Direct Investment (FDI) in Tunisia rose by 27 percent in the first quarter this year compared with a year earlier, official figures showed on Thursday. The figure for the period from January to March was 560 million dinars ($230 million), Reuters cited the Foreign Investment Promotion Agency. The figure was driven by industrial investment, which grew by 45 percent. Tunisia, which last year set up a new investment law, is trying to attract foreign investors after years of stagnation due to strikes and the fragile security situation. The new law gives foreign investors more flexibility to transfer funds, including profits, out of the country. It also establishes a fund for investment which will help finance infrastructure projects, and funding to spur investors to launch big projects in marginalized areas of the country. In its first report on the countrys economy, the Organization for Economic Cooperation and Development (OECD) urged Tunisia last month to improve its business climate and cut red tape to attract more investment and create jobs. Prime Minister Youssef Chahed last week ordered the cancellation of the many administrative licenses that hinder the governments efforts to attract investors. This week, some documents required for projects became available online, Reuters said.