This week's multibillion dollar investment conference offers Tunisia's battered economy a rare chance to restore faith in its future amid slipping bond ratings and labor unrest. 

Behind the scenes, the forum’s outcome will also help determine whether cash-flush Qatar bet on the right horse in its bid to expand its influence in post-Arab Spring North Africa. The emirate is a “partner” and “godfather” of the conference, co-organizer Mourad Fradi told radio station Express FM Nov. 22.

Sheikh Tamim bin Hamad Al Thani is the only foreign head of state expected to participate, and Qatari media credit him with coming up with the plan to inject sorely needed investment into Tunisia’s stagnant economy during President Beji Caid Essebsi’s visit to Qatar in May. The Tunisia 2020 conference on Nov. 29-30 seeks to pair up investors with 82 projects across 20 economic sectors that would have a combined value of $18.9 billion.

That Qatar is a sponsor of the conference should come as no surprise, as Gulf states have long been embroiled in the small North African country. Kuwait has been financially involved in Tunisia since the 1960s, while the United Arab Emirates (UAE) and Qatar have been investing in the country since the 1990s. Interest — and Gulf state rivalry — peaked after the 2010-11 Jasmine Revolution that led to the ouster of longtime Tunisian dictator Zine El Abidine Ben Ali in 2011.