Initiated by His Majesty King Mohammed VI, the Special Commission for the Development Model published in April 2021 a roadmap for Morocco 2035 aimed at ensuring faster, sustainable and more inclusive growth.
To achieve the above objectives, changing the investment model from 2/3 public to 2/3 private is one of the key strategies.
“The post-COVID period is a dynamic for Morocco on which we wish to capitalize to accelerate private and foreign investment and economic growth in accordance with the New Development Model carried by His Majesty King Mohammed VI,” explained Mr. Youssef El Bari. , the CEO of the Moroccan Agency for the Development of Investments and Exports (AMDIE) who recently launched Morocco Now, the national investment and export promotion brand intended to create visibility and highlight the potential of the Morocco with international investors.
Under the impetus of His Majesty King Mohammed VI, Morocco has established itself as a competitive industrial and exporting platform, illustrated in particular by the automotive cluster, one of the most dynamic in the world and number 3 in terms of competitiveness – and supported by first-class infrastructures such as Tanger Med, the first maritime link in Africa and one of the top 30 in the world, 19 international airports, Africa’s first fast rail train launched in 2018, and its several highly specialized industrial zones and fully equipped across the country.
Following the industrial development of Morocco as well as the implementation of the Morocco-United States FTA in 2006, the United States – and as one of the traditional allies of the Kingdom since 1787 with the signing of the of peace and friendship – are today one of the largest sources of foreign direct investment (FDI) in Morocco. Indeed, between 2014-2018, the United States represented 8.4% of Morocco’s inward FDI, bilateral trade between the two countries has more than tripled since 2006 and Moroccan exports to the United States have increased from 230 million USD in 2006 to 980 million USD in 2017. In addition, more than 120 American companies have chosen Morocco as a base for regional and continental expansion. “We have a traditionally strong and close relationship with the United States, which has grown even stronger in recent years, and this encourages American investors to invest in Morocco as a hub for all of Africa,” El said. bari.
Morocco’s hosting of the prestigious U.S.-Africa Business Summit in July 2022 provides a unique opportunity for the country to attract U.S. interest and investment.
Don’t miss Morocco! It is time!
Morocco’s astonishing transformation over the past few years has proven that the Kingdom is now fully industrialized, a leading economy in Africa and a serious contender for the league of developed nations.
It is now one of the most competitive African nations offering attractive production and export costs and easy access to an entire continent of 1.3 billion people based on free trade agreements. exchange (FTA) with more than 50 countries, including the United States and the EU.
The country’s ability to be Agile and adapt to change is of crucial importance for attracting FDI. The Kingdom’s swift and decisive response to the COVID19 pandemic has proven in reality that agility is infused in Morocco’s DNA.
Moreover, visionary decisions provide Morocco with specific competitive advantages in a global context of climate emergency and reorganization of value chains. As a modern and sustainable nation, Morocco is in the top 5 of the 2022 Climate Change Performance Index, as 37% of its energy was produced by renewables in 2020.
Morocco’s value proposition – location, competitiveness, human capital – is indisputable and well proven, as the country has a successful history of foreign investment and executing megaprojects in its rich portfolio to show for it. It is therefore rightly nicknamed “the gateway to Africa”.
Bearing in mind the challenges that industries face in a turbulent world, namely the reorganization of value chains and the decarbonization of production, Morocco is today – now – a platform for investment and export of choice whose advantages deserve to be underlined.
“Don’t miss Morocco! It is time! It’s a good time to strengthen trade and business relations It’s a good time for American investors to seize opportunities in Morocco! assures El Bari.