Investment success hinges on stability, as stated by Moroccan Minister Zidane.
Morocco Touted as Attractive Business Destination by Investment Minister
In a live interview during an investment opportunities event in Brussels, Morocco's Investment Minister, Karim Zidane, extolled the nation's allure as a thriving business location.
Zidane attributed Morocco's economic attractiveness to its strategic proximity to the European Union, making it the country's primary trading partner. He further highlighted the crucial role of the diaspora, well-educated individuals who are proficient in both Moroccan and European business environments, acting as facilitators. Zidane himself spent over two decades working in Germany, primarily in the automotive industry.
Reforms instigated by King Mohammed VI, combined with more than 50 free trade agreements with global partners, have positioned Morocco as an open and competitive market. These policies prioritize sustainability, consider the repercussions of political decisions, and evaluate their cross-effects.
Morocco boasts a diverse economy, with the automotive, pharmaceutical, agricultural, and aircraft construction sectors flourishing. Every airplane worldwide contains components from Morocco. Additionally, the tourism industry continues to be a major contributor, with Morocco becoming the number one tourist destination on the African continent last year, attracting 17.4 million visitors.
In terms of business incentives, Morocco offers up to 30% tax incentives for foreign investors and is strengthening its economic ties with regions like Catalonia through structured bilateral cooperation. The country is also actively promoting investment opportunities through initiatives such as the "Morocco Now" roadshows, positioning itself as a competitive and sustainable regional hub.
In light of Morocco's booming industries, such as automotive, pharmaceutical, agriculture, and aircraft construction, it offers significant opportunities for both domestic and foreign finance in these sectors. Furthermore, the Moroccan government has established strategic business ties with regions like Catalonia, offering tax incentives up to 30% to attract investment, positioning it as a competitive and sustainable hub in the industry.
