Tag: "kingdom of morocco"

The American High-End Market Explored by Morocco

The Moroccan Foreign Trade Minister Abdellatif Maazouz said that after a victorious experience in Europe, especially in France, the Kingdom of Morocco will launch a new operation in the city of New York with the intention of introducing Morocco’s agro-alimentary products to America’s high-end market.

How Many Moroccan Products will be Featured in New York?
On the sidelines of the 24th SIAL (Salon International de l’Agroalimentaire) which took place in Paris, France, Morocco’s Foreign Trade Minister told MAP in an interview that all 16 stores of “The Food Emporium” a well known New Yorker food chain, will feature over 200 Moroccan made products.

The Export From Morocco To America Is Growing

What is the Importance of Morocco’s Participation in the SIAL?
The 24th SIAL, was event marked by the participation of over 70 Moroccan based companies, was an avenue to showcase Morocco’s diverse and innovative production and to also encourage the exportation of every bit of this country’s agro-industrial products particularly spices and oils, in addition to the following:

  • Preserved food
  • Condiments
  • Sweets
  • Drinks
  • Starch
  • Seafood

The Minister praised the excellence of Morocco’s participation in this event, both in terms of the considerable number of Moroccan participants and the number of visitors, the minister noted that participating in the SIAL was essential to promote the exports of Moroccan products because it served to successfully introduce Morocco’s agro-industrial products to the French high-end market.

Apart from Food Products, What Else Can Morocco Offer the American Market?
Morocco is presently a completely unique location for interested property investors. American real estate investors can take advantage of this country’s wonderful real estate opportunities. Interested Americans have the opportunity to buy property early in this country’s emerging market at a very affordable cost in comparison to lots of other countries in the Mediterranean region.

What is So Unique about the Property Market in Morocco?
The “Unique” thing about investing in the Moroccan real estate market is the “Sense of security” every investor is sure of getting – not many real estate investors can boast of this, not even Donald Trump. With this country’s tourism already improving at a pretty rapid rate and the “buy to let” investors are already recording 85 percent (85 percent!) occupancy rates all through the peak season. For many investors, Morocco does not only FEEL like a safe place to buy property but it IS a safe place to buy property.

Why Should I Invest In Morocco’s Real Estate? – Got Reasons?
Here are just some of the reasons why investing in Morocco’s real estate makes sense:

  • The property prices in Morocco are 50 percent less (50% less!) than any other European option
  • The cost of living is low – translation: you can experience a luxury lifestyle at a small cost
  • This country has a booming property market
  • Real estate investors will not be charged annual property tax for the first five years
  • Zero percent inheritance tax to family
  • 70 percent mortgages available
  • The country’s Sovereign and the UAE plan to increase tourism and is putting in place projects to improve infrastructure and boost Morocco’s tourism industry by 10 million visitors annually.

Support by France in Trade Agreement Negotiations

Anne-Marie Idrac France’s State Secretary in charge of Foreign trade, said that the French government fully supports the kingdom of Morocco in the ongoing trade agreement discussions with the EU, “taking into consideration its advanced status.”

Does the French Government have any Advise for Moroccan Government?
Following discussions with Abdellatif Maâzouz, Morocco’s Foreign Trade Minister, France’s State Secretary informed MAP that she has emphasized, during the discussions, the necessitation for “a compromise respecting one another, which will reflect Morocco’s special standing, compared with other countries in the region, thanks to its advanced status, which is worth taking into consideration in the negotiation process.” Morocco’s Foreign Trade Minister told MAP that French government wished to send a signal to the European Union on “Morocco’s willingness to move forward in the services negotiations, as was declared in the Grenada (Spain) summit” between the European Union and the Kingdom of Morocco.

Morocco Is Supported By France In Transport

What are Morocco’s Demands in Trade Agreement?
The Moroccan Foreign Trade ministers emphasized that the Kingdom demands particularly more flexibility with consideration to a couple of rules relating to the recognition of degrees, which will make way for an effective services agreement. In the minister’s own words “Flexibility in these aspects would enable to go faster in the free trade negotiations.” Maâzouz also said that in the field of textile, the Kingdom is requesting for similar conditions of rules of origin applied to the Pacific, Turkey, Caribbean and African states.

Did Morocco Ever Have a Trading Partner?
In 2009, France happened to be Morocco’s very first trading partner, with 18.2 percent of Moroccan foreign trade. The EU is the Kingdom’s first trading partner and accounts for virtually 60% of its entire trade. Morocco’s imports in 2006 from the European Union arrived at 10.3 billion Euros, while the kingdom exported a total value of 7.2 billion Euros. In 2006, Morocco’s trade deficit with the European Union stood at 3.1 billion Euros.

What is Morocco’s Economy Largely Dependent On?
The Moroccan economy is still pretty much dependent on textiles trade and agricultural products, which together in 2006 accounted for 59 percent of European Union imports from the Kingdom.

What is the Sectoral breakdown of Chief European Union Imports from Morocco?
In 2006, the sectoral breakdown of chief European Union imports from Morocco is:

  • Agricultural products – 24 percent
  • Clothing and Textiles – 35 percent
  • Energy – 4 percent
  • chemical products – 4 percent
  • Machinery – 15.4 percent

Major European Union exports to Morocco are:

  • Machinery – 26.4 percent
  • Clothing and textiles – 14 percent
  • Energy – 10 percent
  • Chemical products – 10.5 percent
  • Transport materials – 10 percent

What is Morocco’s Foreign Direct Investment (FDI)?
The European Union is the chief foreign investor for the Kingdom, followed by the United States. In 2005, the European Union Foreign Direct Investment in the Kingdom of Morocco was some whopping 1 billion Euros, adding to the total European Union external stocks in Morocco of almost 4 billion Euros.

US Assistant Secretary of State visits Morocco

The Kingdom of Morocco hosted, the United States Assistant Secretary for Economic, Energy and Business Affairs Jose Fernandez recently in Marrakesh.

What Was the Purpose for this Visit?
Fernandez took part in the yearly competition of the young Arab entrepreneurs INJAZ and he also emphasized the American support for them. The United States official also met with Moroccan representatives to the Presidential Summit on Entrepreneurship, which took place in Washington.

US Has A Great Partnership With Morocco

What Else Did the US Official Do While in Morocco?
The United States official also participated in the WEF (World Economic Forum), primarily on debates on the following topics:

  • “Promoting US-Muslim relations”
  • “Boosting infrastructure investment in the Middle-East”
  • “Strengthening cooperation between US and Maghreban entrepreneurs.”

Does Morocco Have a Good Partnership with The United States?
The United States official said that the Kingdom is a privileged and long-standing partner for the US. The US official also said in an interview with “I’Economiste” – a French-speaking daily – that the United States has very strong ties with the Kingdom and looks to further strengthen partnership ties.

How Does the United States Support Morocco?
The US official recalled that the United States Supports the Kingdom’s very important sectors notably:

  • Information Technology (IT)
  • Agriculture
  • Right of property
  • And Energy

The United States official, who spoke on the sidelines of the WEF (World Economic Forum) on MENA (Middle East and North Africa), explained the free trade agreement between the United States and the Kingdom as “the core” of bilateral economic relations. Fernandez said that both countries should further their trade exchanges, he noted that Morocco is drawing investments.

Does Fernandez have Any Comments regarding the WEF?
On the World Economic Forum, Fernandez confirmed that the event emphasized the good bilateral bonds, particularly at the economic level, and was an avenue to think about the methods to address the challenges and also recognize new cooperation opportunities.

Name one Very Lucrative Investment Opportunity in Morocco
One of the most lucrative investment opportunities in Morocco is the real estate market. Yes, Morocco is one of the hottest spots for real estate investors!

Isn’t The Waters of Real Estate in “any country” Murky?
Yes, maybe the real estate waters in most countries are a little bit murky, but in Morocco the waters are clear and sparkly clean! The Sovereign of Morocco is offering incentives for new investors and developers who plan to build hotels and vacation homes in this country. The target of this country’s Sovereign is to have the infrastructure for ten million tourists by the year 2010.

How Can Investors be Sure That Their Interests Are Protected?
The King of Morocco, King Mohammed VI is his early 40s and ascended the throne in 1999 when his father passed on. The King was trained in the United States and in the United Kingdom, he has a western mindset and he has been introducing great change in several areas including implementing new regulations to protect foreign investors – smart investors will definitely take advantage of this opportunity.

Cooperation in Tourism Between Morocco and Kuwait

Yasser Zenagui, Morocco’s Tourism and Handicraft Minister recently met with Ahmed Rasheed Al Haroun, the Kuwaiti Minister of Trade and Industry in Kuwait.

What Was the Meeting of these Two Ministers About?
The meeting looked at the means to further improve bilateral ties in the tourism field. The Moroccan minister told the press at the end of the discussion that the dialogue discussed avenues to support Morocco’s tourist product in not just the Arab states but in the Gulf region especially. The minister also noted mutual proposals to promote the Kuwaiti tourist investments in the Kingdom of Morocco. The Kuwaiti minister said that the bilateral relations are rock-solid, particularly in the economic area; he added that he is open to concepts that are expected to reinforce bilateral cooperation in this area.

Success of the Moroccan Tourism Industry

Is the Moroccan Tourism Industry Doing Well?
The Moroccan tourism and travel industry sure appears to have done pretty well in 2009 in comparison to other countries. The number of visitors to Morocco has really increased; the country’s transportation links are improving and the tourism infrastructure improvement projects seem to be right on track.

What Role Did the Moroccan Government Play to Ensure the success of its Tourism Industry?
The Moroccan government had to take proactive measures at the end of 2008 when it was becoming obvious that the country’s tourism would suffer as an aftermath of the global financial crisis. The Moroccan government launched a plan of action “CAP 2009” targeted at supporting domestic tourism and broadening the search for foreign tourists. The Moroccan government also launched marketing campaigns in Russia and also on the Persian Gulf and the traditional European markets were also not left out.

What other plans has the Government put in Place to Improve the Moroccan tourism Industry?
Morocco’s “Vision 2010” is expected to shift away from tourism infrastructure development in order to focus more and more on the integration of tourism services and also the improvement of the tourist experience – if tourists have a pleasant experience the first time they visit the country, chances are they will keep on coming back. The Vision is also going to make the training and development of local staff a priority as well.

What is Morocco’s Tourist Profile like?
French visitors remain the major source of tourists to the Kingdom of Morocco; this is partly due to the very strong ties between both countries. But, there is an intense effort by the OMNT (Moroccan National Tourism Office) to expand source markets by encouraging new visitors from other European nations and elsewhere.

What Are the Factors That Has Made the Search for Foreign Tourists Easier?
The different range of European destinations obtainable by low cost flights to Morocco have actually helped in the task of getting more visitors to this country; but, strong growth has been observed by nations nearer to this country such as Tunisia and Saudi Arabia – these countries are known to have pretty strong religious and cultural ties with the Kingdom. Algeria, is a country close to Morocco and is also a huge possible source of ready visitors but (yes, there is a but!) the land border between these nations is still closed, therefore limiting numbers.

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.

Great opportunities in Morocco

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:

  • 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

Microcredit in Morocco is an Exceptional Success Story!

According to French newspaper “La Croix”, the Moroccan experience in microcredit is simply an “Outstanding success story”, which was highly “lauded and supported by donors” in the past 10 years.

What is the Impact of Microcredit in Morocco?
La Croix noted that in late June 2010, there was an outstanding balance of 4.8 billion Dirhams (430 billion Euros), the microfinance sector of the Kingdom of Morocco represent 40 percent of the outstanding balance of the MENA (Middle East and North Africa) region, which makes up an “example” highlighting the positive effect of microcredit on encouraging income generating activities in Morocco.

The Story Of Microcredit in Morocco

Who are the Recipients of Microcredit?
The main targets of Morocco’s microcredit facility are the low income earners in not just in rural areas but also in the urban areas as well, especially those individuals who cannot afford the cost of starting up a business. One beneficial effect of the Morocco’s microcredit system has been the inspiration and the sustenance of saving and banking habits in the citizens.

How Many People Actually Benefit from Morocco’s Microcredit?
The French paper, underlined that about one million individuals (15 percent of families) benefit from Morocco’s microcredit, two thirds of these beneficiaries are in the urban areas, women represent the large majority of beneficiaries.

Is the Morocco Microcredit Companies Among the World’s High Performance Institutions?
La Croix cited Forbes – An American business and finance magazine – saying that in 2009, 4 out of 12 microcredit companies active in the Kingdom of Morocco were part of the “Top 30” high performance institutions across the globe.

What is the Major Contributions of Morocco’s Microcredit for Poor Women?
Many of us have read interesting anecdotes about how the source of income has increased and how the extra money that comes from financed small businesses has been used to improve the health and the education of members of the family. Many poor beneficiaries of microcredit use the money to invest in their businesses and use the proceeds from their business to simply improve the standard of their living. Another contribution of Morocco’s microcredit scheme is how it helps increase the self esteem of beneficiaries, encourage community involvement and empowers recipients.

Does Morocco’s Microcredit Scheme Focus on Only Women?
Yes, it may seem as though the microcredit is aimed at Moroccan women, maybe the reason women are still the majority of the microcredit clients is because they are the largest marginalized sector who don’t have access to good education and the employment in the formal sector. The truth is that the microcredit products are not essentially targeted at women, nor is it the main concern of most regulated and for-profit microcredit institutions to serve mostly women.

Has Morocco’s Microcredit Lived Up to Eradicating Poverty?
Poverty is actually quite complex. The access to microcredit is just one way that poor people can benefit. But the truth is that not everyone is has the necessary skills to be successful entrepreneurs. So other financially challenged people will need help in areas that will not include microcredit.

Foreign Investors are Attracted by Morocco’s Vision

According to Morocco’s Foreign Trade Minister Abdellatif Maâzouz, Morocco is a country that has a clear, homogenous and concentrated vision which has attracted a large number of foreign investors.

Maâzouz further explained that the World Economic forum (WEF) on MENA (Middle East and North Africa) region, which hosted a large number of the world’s distinguished personalities, was an opportunity for Morocco to showcase its potentialities and approved strategies. This will enable the country to take steady steps towards achieving growth and development.

A Beautiful Vision From Tangier

The Minister went on to explain that the Forum has shown that Morocco is turning out to be THE real destination for worldwide decision makers and a rendezvous between top politicians and economists.

What Makes Morocco Stand Out In the International Community?
Oh yes, Morocco sure has a really strong stand in the international community. You may be wondering; “How is this possible in a global financial crisis?” According to the Foreign Trade Minister, the Renault-Nissan project in the city of Tangier is one of the biggest projects ever handled by this company at the global level, the minister noted that this project will indeed make The Kingdom of Morocco one of the global platforms in the automotive industry.

Maâzouz said that this sort of project is a great example of Morocco’s industrial development and also said that Morocco should embark on key projects in other sectors so that the country can fully play its role as a top industrial, economic and trade power not just in the Middle East and North Africa region but in the Mediterranean region as well.

Are There Any Other Great Investment Opportunities in Morocco?
Morocco is among the top unique location for real estate investors. Interested property investors have a chance to buy property early in a budding market at affordable costs in comparison to many other well known destinations in the Mediterranean area. What makes the property market in Morocco unique is the real sense of security for interested property investors. The tourism industry in this country is increasing at a very fast pace and “buy to let” investors are reporting 85 percent (85 percent!) occupancy rates during peak season. It is important for real estate investors to know that Morocco is indeed a safe place to buy property.

Need Convincing?
If you are one of those people who need real convincing before you put your money where your mouth is, then you should know this. The Moroccan King, His Royal Highness Mohamed VI and the United Arab Emirates (UAE) have allotted a colossal sum into significantly increasing the country’s tourism industry further to a target of ten million each year. This investment alongside with a number of “tax advantages” (tax advantages!) will also help investors feel absolutely comfortable in investing in real estate in Morocco.

Think about it, there are not many places on the planet that investors can look to make good investments at exceptional costs and still the nerve to expect a quick rental return with a pretty good capital appreciation prospects. Morocco is every investor’s investment dream come true.

Morocco Invests 11 Billion Euros In Infrastructure

According to Morocco’s Minister of Transport and Equipment Karim Ghellab, over the period of 2008-2012, The Kingdom of Morocco has earmarked 11 billion Euros for the country’s transport infrastructure.

Why go Through the Trouble Of Developing The Country’s Infrastructure?
The Minister, who gave a speech during the forum on “The Risks of Under-investment in Infrastructure” which was held in Marrakech, Morocco as part of the WEF (World Economic Forum) on MENA (Middle East and North Africa) region, Ghellab recalled that “in 10 years, Morocco has quadrupled its investments in transport infrastructure”, the minister stressed that an integrated development needs a well-organized infrastructure.

Morocco Invests In Infrastructure

Why Spend All that Money on Improving Transport Infrastructure Huh?
According to the minister “Morocco is capitalizing on the infrastructure”, he noted that improving the country’s infrastructure is most likely to contribute to the development of both the human and economy of the country.

What Should Foreign Investors Expect?
Concerning Morocco’s government policy to successfully attract more FDI (Foreign Direct Investment), Ghellab noted that the kingdom of Morocco has implemented clear sectoral policies, giving an example “Plan Emergence”, in addition to the commencement of a variety of projects i.e. motorway network, Tangier-Med port complex and so on.

Will Financially Challenged Citizens’ Benefit from these Laudable projects?
The Kingdom of Morocco, like any other evolving country, has implemented a variety of programs to control the social deficits and alleviate poverty. The Minister said, citing projects which are specifically aimed at opening up rural areas and supplying potable water.

What is the key Goal of WEF on MENA Anyway?
The WEF (World Economic Forum) on MENA (Middle East and North Africa), this forum (which brings together well known economists and analysts from across the globe) is meant to deal with the most suitable growth and development scheme for the region in circumstances marked by the following:

  • Economic downturn
  • Water scarcity
  • Unstable oil prices
  • And immigration.

What Other Areas will WEF on MENA Address?
With the full support of the Kingdom of Morocco’s ruler, His Majesty King Mohammed VI, the forum will also be an avenue to be aware of, collectively, the reality of the post-crisis. This meeting will also address the issue of the sovereign wealth finances and their increasing orientation in the direction of a regional dedication to important sectors such as:

  • Health and social systems
  • Renewable energy
  • Infrastructure development
  • Technological advancement

How Many Topics will the Meeting touch?
The forum will touch on 3 themes namely:

  1. “Regional responses to global risks”
  2. “Encouraging a Sustainable growth”
  3. “North Africa: New regions of commercial partnership”.

How Would a Prospective Investor Benefit?
Prospective investors (especially the ones who plan to invest in Morocco’s real estate) will be glad to know that they will not only expect to have access to world class infrastructure but also to tax advantages as well. The Moroccan government has put policies in place to ensure that investors are comfortable. Morocco is truly every investor’s haven – take advantage of the investment opportunities and you will be glad you did.

The Major Cities in Morocco

If you are interested in real estate in Morocco there may be one or more cities and towns that interest you. It is important to get a good sense of which areas interest you before you begin searching for real estate in Morocco. A more tailored search will have a greater result than if you do too broad a search.

Casablanca is the largest city in the country. It is located on the Atlantic Ocean. There is some great real estate in Morocco including Casablanca. The population is under 4 million people and it is considered the economic and industrial center of the country. The weather is consistently warm/hot. Real estate in Casablanca includes some wonderful homes in a city filled with scenic spots including mosques and other landmarks.

Buying real estate property in Morocco: things to keep in mind

For this year 2010, the Kingdom of Morocco has devised a sustainable plan to support the developing tourism the country is continuously experiencing. “Vision 2010”, as the plan is officially called, was implemented the King Mohammed to construct a series of infrastructures that are intended to project the coastline properties of the country and convert them into a tourist hotspot. With this, the King is not mistaken with his plans since Morocco has been a very attractive place for tourists and investors alike.