Today the country has successfully raised itself as a competitive industrial and exportation platform for investors in Africa. Furthermore, long-term investments in renewable energy and free trade are translating into distinctive assets in the post-COVID-19 context of the climate emergency and value chain reorganization.
“Despite the repercussions of the crisis, trust in our country and in the vibrancy of our economy has remained unchanged, as illustrated by the increase — up to August of this year — in foreign direct investments, which have risen by 16%,” His Majesty King Mohammed VI said during his address for the opening of the Moroccan Parliament on Oct. 8 in Rabat, the capital.
His Majesty King Mohammed VI launched an initiative called the “New Development Model,” which defines the strategic direction of Morocco’s development for a productive and diversified economy that will create added value for the country and deliver quality jobs by 2035.
This is the right moment for Morocco to go a step further.
From Expo 2020 Dubai to Times Square in New York, people around the world are experiencing “Morocco Now,” a brand unveiled by the Moroccan Agency for Investment and Export Development (AMDIE). The agency is aiming to promote Morocco as a leading “future-proof” industrial and export platform for foreign investors to capture opportunities in a changing world. Morocco Now is supported by four assets:
Morocco has a successful track record of attracting foreign investment on the account of its business-friendly environment, political stability, resilient economy and effective government incentives.
Attractive incentives include the development of world-class economic zones, government subsidies for investors, human capital and end-to-end assistance and support from AMDIE.
Morocco has also delivered megainvestment projects and created conditions for success as illustrated by the country’s automotive ecosystem of 250 companies, the world’s fastest-growing automotive cluster, and an aerospace sector with 140 companies and 20% average yearly growth.
Morocco has consistently ranked among the most attractive investment destinations in Africa. The country has become the leading gateway to more than 1 billion consumers and is supporting Africa’s rapid growth potential:
Strategically situated on the Strait of Gibraltar, Morocco is only 15 kilometers from Europe. This location has enabled Morocco to play an important role as a regional trading hub for centuries.
The country currently has 54 free trade agreements (including with the European Union and the U.S.), giving investors privileged access to over 1 billion consumers.
The Tangier Med Port, established in 2007, is the first transshipment platform in Africa. Capable of handling 9 million containers a year, the port provides 186 connections from Morocco to 77 different countries.
With 18 airports and over 100 industrial zones, Morocco is leading the way in terms of world-class infrastructure and digital connectivity across the African continent.
Operated by ONCF (Office National des Chemins de Fer du Maroc), Al-Boraq is a 323-kilometer high-speed rail service connecting Casablanca and Tangier — the first bullet train in Africa.
Brimming with talent, 42% of the country’s population is under 25 years old. A growing number of partnerships with international universities are supporting the development and education aspirations of Morocco’s young and dynamic workforce.
Sustainability is a cornerstone of the New Development Model. Morocco has one of the most competitive, low-carbon industrial sectors in the world and was the first producer of renewable energy in Africa.
In 2020 renewable energy accounted for 37% of Morocco’s “energy installed capacity” and as of this year, renewable resources have provided 4 gigawatts of installed capacity. By 2030, Morocco plans for 52% of its electricity capacity to come from renewable resources.
The Morocco Now initiative offers a concrete response to global and economic challenges. By aiming to meet consumer expectations, comply with new regulations and transition toward decarbonized
production, Morocco is tackling the climate crisis head on.
Resilience and adaptability are part of Morocco’s DNA. The country has been applauded for its response to the COVID-19 crisis. Swift reallocation of industrial capacity toward health equipment and efficient vaccination roll-out programs have paved the way for Morocco’s rapid social and economic recovery.
“We guarantee concrete solutions to the challenges facing the global value chain today and a strong commitment to the success of all investment projects in Morocco,” shared Youssef El Bari, general manager of AMDIE.
“Morocco is a reliable destination with high investment and export potential. We invite foreign investors to be part of our successful and vibrant economy.”