Initiated by His Majesty The King Mohammed VI, the Special Commission For The Development Model has issued in April 2021 a roadmap for Morocco 2035 aiming at delivering a faster, sustainable and more inclusive growth.
To meet the above objectives, switching the investment model from 2/3 public share to 2/3 private share is one of the key strategies.
“The post-COVID period is a momentum for Morocco we would like to capitalize on 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 former CEO of the Moroccan Agency for Investment and Export Development (AMDIE) who recently launched Morocco Now, the national brand of investment and export promotion intended to create visibility and showcase Morocco potential for international investors.
Under the leadership of His Majesty King Mohammed VI, Morocco emerged as a competitive industrial and export platform, illustrated in particular by the automotive cluster – one of the fastest growing in the world and #3 in terms of competitiveness – and supported by first-rank infrastructures such as Tanger Med, the leading maritime connection in Africa and one of the top 30 in the world, 19 international airports, the first fast railway train in Africa launched in 2018, and its several highly-specialized and fully-equipped industrial zones across the country.
Following Morocco’s industrial development as well as the implementation of Morocco-USA FTA in 2006, the US – and as one of the Kingdom’s traditional allies dating back to 1787 with the signing of the Treaty of Peace and Friendship, – is now one of the largest sources of Foreign Direct Investment (FDI) in Morocco. In fact, between 2014-2018 the US 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 USA increased from USD 230 million in 2006 to USD 980 million in 2017. In addition, more than 120 American companies have chosen Morocco as their base for regional and continental expansion. “We have a traditionally strong and close relationship with the US, which has grown even stronger in recent years, and this encourages American investors to invest in Morocco as a hub for all Africa” highlighted El Bari.
The hosting of the prestigious US-Africa Business Summit in July 2022 by Morocco provides a unique opportunity for the country to attract US interest and investment.
Don’t miss out on Morocco! NOW is the time!
Morocco’s astonishing transformation in the last few years has proven that the Kingdom is now fully industrialized, a leading economy in Africa and a serious contestant for the league of the developed nations.
It is now one of the most Competitive African nations offering attractive production and exportation costs, and easy access to a whole continent of 1.3 billion people based on Free Trade Agreements (FTA) with more than 50 countries, including the US and the EU.
Crucially important for FDI attraction is the nation’s ability to be Agile and adaptive to change. The Kingdom’s swift and decisive response to the COVID19 pandemic has proven in reality that agility is instilled in the Moroccan 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 Climate Change Performance Index 2022 as a staggering 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 nation’s has a successful history of foreign investment and execution of mega-projects in its rich portfolio to show. It is therefore rightfully dubbed as “the Gateway to Africa”.
Having in mind challenges industries are facing in a turbulent world namely value chains reorganization and production decarbonization, Morocco is today – Now – a choice investment and export platform whose assets deserve to be highlighted.
“Don’t miss out on Morocco! NOW is the time! Now is the right moment to reinforce trade and business relations Now is the right moment for American investors to seize opportunities in Morocco!” assures El Bari.