Morocco, well placed to continue attracting foreign investment

Morocco, well placed to continue attracting foreign investment

Morocco is well positioned to continue attracting a wide range of investments on the doorstep of Europe and Africa, writes the American news agency Bloomberg, calling the Kingdom “an oasis of globalization” in Africa North.

In an article published Thursday, the US media notes that companies, particularly Western ones, are already present en masse in Morocco and continue to expand their operations there, taking advantage of the “wave of nearshoring” that the country is experiencing “at the commercial crossroads between Asia, the Middle East and the Americas”.

He cites, in this context, the case of the car manufacturer Renault, which employs some 8,000 people in its plant in Tangier, as well as the industrial platform Tanger Automotive City (TAC), which hosts dozens of companies such as the seat supplier based in Michigan (USA), Lear Corp, and the French component manufacturer Valeo.

Bloomberg notes that the presence of large multinationals such as Boeing, Airbus and Stellantis and many others have helped the Moroccan economy generate tens of thousands of new manufacturing jobs, adding that these companies are taking advantage of the advanced infrastructure now available to the country. Morocco such as the High Speed ​​Train (TGV), industrial zones and a wider motorway network serving the major cities of the Kingdom.

The agency also cites Port Tanger Med, a major infrastructure which, after 15 years of existence, has become one of the best and busiest in the Mediterranean region and beyond, adding that Morocco is in the process of to build another major port near Nador with the aim of repeating the success of the city of the strait.

Other companies, particularly Chinese, are beginning to take an interest in the opportunities offered by Morocco, indicates the prestigious media, recalling that a memorandum of understanding was recently signed between the Gotion High Tech group and the Kingdom for the implementation an industrial ecosystem for the production of batteries for electric vehicles and energy storage systems.

This structure, destined to become one of the largest in the world, would require an investment estimated at more than six billion dollars, adds the American agency, noting that very recently a new impetus was given to the “Tangier Tech City” project. , a “smart city” that could accommodate 200 Chinese companies.


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