Minister Highlights Morocco's Assets as Prime Destination for Investment

Anwarpress EN Tuesday 26 November 2024 - 10:50

Speaking at the ‘Morocco Now’ conference on Monday, part of the roadshow he is leading with a high-level delegation to Japan and South Korea, Zidane emphasized that, under the enlightened vision of His Majesty King Mohammed VI, Morocco has “become a regional economic powerhouse with a modern and highly diversified economy.”

In this context, the minister underscored Morocco’s world-class infrastructure, particularly the Tanger Med Port, which stands as the leading container port in Africa and the Mediterranean.

With a young, skilled workforce and significant potential in green energy, Morocco has established itself as one of the most competitive industrial hubs in the region, Zidane stated, adding that this competitiveness has revitalized “our traditional industries, such as agri-foods and textiles, while enabling the rise of thriving sectors in our country, such as automotive and aerospace.”

Access to major global markets has also been a key driver for Morocco’s industry, the Minister added, highlighting that with over 50 free trade agreements in place, the Kingdom now reaches nearly 2.5 billion consumers.

Zidane also praised the positive momentum in economic relations between Morocco and Japan in recent years, emphasizing that trade between the two countries surpassed $640 million in 2023.

However, he underscored that significant untapped potential remains, as Japan is currently only Morocco’s seventh-largest Asian trading partner.

Regarding investments, more than 70 Japanese companies have already established operations in Morocco, with the Kingdom’s largest private employer being a Japanese firm, the Minister stated, expressing confidence that other entities could follow suit and fully capitalize on the benefits provided to investors under the new Investment Charter.

He also highlighted that the recent implementation of the investment protection and promotion agreement, along with the double taxation avoidance agreement, will help boost Japanese investments in the Kingdom.

Minister Delegate for Investment, Convergence, and Policy Evaluation, Karim Zidane, highlighted Morocco's assets as a prime destination for investment and business opportunities during his visit to Tokyo.
26 November 2024
Tokyo
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