Morocco aims to accelerate foreign investments in the country

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Morocco aims to accelerate foreign investments in the country while creating visibility of its attractive value proposition.

Over the last 20 years, Morocco has undergone an impressive transformation. Positioning itself as a competitive industrial platform, the country has become one of the most attractive destination for investment in the African continent. With the fifth largest economy by GDP, there’s no doubting Morocco’s clout as a major player in Africa’s economic affairs.

With a focus on renewable energy and inclusive free trade agreements in the shadow of Covid-19, Morocco’s proposition is attractive to investors looking for innovation and future growth.

“Our ambition is to position Morocco as a global hub for strategic investments and international sourcing,” says the AMDIE Director General, Youssef El Bari – who previously served as Secretary General of the country’s Ministry of Industry, Investment, Trade and Digital Economy.

“Morocco is, more than ever, the right place to invest – combining a solid ground and new assets – so we have decided to give [the country] an increased visibility and share our unique offering with investors.”

This, he says, has culminated in the launch of a new national brand of investment and exportation: Morocco Now.

Morocco Now billed by El Bari as “the future-proof platform to invest and export to the world” relies on four main “assets” in its ambitions for success: Sustainable, Competitive, Well-Proven, and Agile.

Sustainable: Offering decarbonized productions

Since 2009, Morocco has been investing in renewable energy. If this momentum is kept up, the country expects to generate 52% of its electricity capacity from renewable sources. With the world ready to take action based on the recent COP26 conference in Scotland, investors will be looking for green infrastructure opportunities which meet increasingly strict Environmental, Social, and Governance goals.

Competitive: Giving investors access to an expansive consumers’ market

With 54 free trade agreements, including agreements with the European Union and the United States of America, Morocco is giving investors privileged access to over one billion consumers. This huge and incredibly diverse market can help businesses and organizations scale across the world without the red tape associated with less well-connected locations. From consumer goods to digital solutions and infrastructure projects, there’s opportunities for growth ready and waiting for ambitious investors.

Well-Proven: A strong track record for attracting foreign investment

Since 2009, Morocco has been investing in renewable energy. If this momentum is kept up, the country expects to generate 52% of its electricity capacity from renewable sources. With the world ready to take action based on the recent COP26 conference in Scotland, investors will be looking for green infrastructure opportunities which meet increasingly strict Environmental, Social, and Governance goals.

Agile: Ongoing resilience and adaptability, even in crisis

The country has been applauded for its response to the Covid-19 crisis. It was able to reallocate industrial capacity towards health equipment and orchestrate vaccination roll-out programs, which have paved the way for its rapid recovery. These measures didn’t just preserve human life, they also helped mitigate the economic impact which other countries have suffered from. Being able to bounce back faster and stronger than some other economies, are a testament to Morocco’s resilience and put the country in a strong position as the world emerges into unknown territory defined by the pandemic.

So, what can we expect next from Morocco as a result of AMDIE’s goals to catapult the country to victory as a global investment hub?

In April 2021, His Majesty The King Mohammed VI actioned the Special Commission For The Development Model – a roadmap for Morocco in the lead up to the year 2035. Based on the collection of citizens’ feedbacks and ideas, this blueprint defines the country’s major ambitions, strategies, and KPIs.

“Morocco has the ambition to consolidate and accelerate its development while building on its historical strengths, solid long-term vision and great capacity to adapt”

Yousef El Bari, Director General of the Moroccan Agency for the Development of Investments and Exports

The country’s aerospace industry is one prime example, demonstrating a 20% annual average growth while ranking as the top aerospace equipment exporter in Africa with a booming ecosystem of 120 companies.
Spirit AeroSystems, one of the largest manufacturers in the commercial and defense aerospace industry, recently invested $200 million in its Casablanca site, with a 55,000m2 world-class plant specializing in the assembly of metal structures and system components for aircrafts.
For its targets further afield, Morocco aims to deliver faster sustainable and more-inclusive growth for the country – at more than 6% average a year – with the goal to consolidate as an exemplary regional leader despite major world challenges.

Souce: CNN

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