Opportunities Offered by Morocco to Spanish Investors
In an interview published by the Spanish economy newspaper “Cinco Dias” Ahmed Reda Chami, Morocco’s Trade and New Technologies Minister emphasized the numerous opportunities offered by the Kingdom of Morocco to Spanish investors in a variety of sectors.
What Exactly Will Morocco Offer Spanish Investors?
Chami said while announcing the creation of Morocco’s public funds that support by ten percent (10%) investments in planned sectors such as:
- Electronics
- Automotive
- Technology
- And aeronautics, the Kingdom of Morocco provides investors with a “very favourable” economic framework, which includes an exemption for 5 years (five years!) of corporate tax.
What is this Stuff about “Free Trade Agreements”?
According to the minister, Morocco has signed free trade agreements with not just the European Union (EU), but also with the United States, Turkey and with Arab and African nations, the minister added that these nation make up a market of over a billion people.
What are the Sectors that Offer the Best Investment Opportunities for Spanish investors?
When asked about the sectors in particular that will offer the best investment opportunities for Spanish investors, Chami cited the following:
- Tourism
- Textiles
- Offshoring
- Renewable energy
- Aerospace
- Food processing
- Automotive
The minister pointed out that the impact of universal financial and economic crisis on the Moroccan economy is in fact “very moderate”, all thanks to the following:
- Increase in domestic demand
- Public investment in Morocco’s infrastructure
- Good agricultural season.
What is the Main Goal of Morocco?
The minister recalled that recently in Spain, the second representative office abroad of Morocco’s Development investment Agency was inaugurated, after that of France, the minister said that the goal of the Kingdom of Morocco is to draw more foreign investment.
Why Invest in The Kingdom of Morocco?
Morocco is occupied in a go-getting program of structural reforms which will affect a variety of fields and focus of the liberalization of the country’s economy and the development of the country’s competitiveness. As mentioned earlier, a lot of association and free trade agreements have been signed with several nations in order to encourage the opening of Morocco’s economy. Morocco has developed a strategy of attracting foreign investments which is based on incentive, institutional and legal structure.
How Far Has this Country Progressed?
Morocco has noticeably advanced as far as macroeconomic stability is mentioned, inflation rates are low, there is widely facilitated credit granting and the revenue generated by this country’s tourism sector is really impressive. Morocco has concluded with over 30 countries bilateral agreements of investments’ Protection and Guarantee. Recently, the Kingdom has been occupied with putting in place a variety of developments that allow the opening of its economy to the global environment.
What Else has Morocco Put in Place to Draw Spanish Investors?
Lastly, the Kingdom has developed the much needed infrastructure to receive FDI which include:
- The extensive Tangier Med port
- Offshore centers
- Techno parks
- Logistic free zones etc
Filed Under: Economic News of Morocco
