Spanish investors favor Morocco

Spanish investors favor Morocco

Morocco is a privileged destination for Spanish investors in Africa and occupies a prominent place in the internationalization strategies of Spanish companies, said Wednesday in Casablanca, the Secretary of State for Commerce of Spain, Xiana Méndez.

Speaking at the inaugural session of the Morocco-Spain Business and Investment Meeting, Ms. Méndez highlighted the dynamism of relations between Morocco and Spain and the firm will to consolidate bilateral ties since the recent holding of the Morocco-Spain High Level Meeting.

We must put in place all the necessary means to strengthen trade and investment relations so that they live up to the current dynamics between the two Kingdoms, she said, recalling the recent business meeting in Madrid with the Minister Delegate in charge of Investment Mohcine Jazouli which was an opportunity for Spanish business leaders to discover investment opportunities in Morocco.

This meeting, which is a very important event for the Moroccan and Spanish entrepreneurial communities, is a continuation of these consultations, indicated the Secretary of State, also president of ICEX Trade and Investment, noting that the subjects which will be discussed, namely the business climate, renewable energies, the environment, industry, infrastructure, or even water and transport, are of common interest for the two countries.

And to continue that “the data relating to the investments support this firm desire to walk the path together”. “During the last decade we have reached record figures in terms of volume of trade, i.e. 20 billion euros in 2022”, she added, noting, moreover, that Spain is the third country in terms of investment stock in Morocco.

Through the Morocco-Spain Business and Investment Meeting, we have the will to deepen these commercial and investment relations within the framework of the strategy of internationalization of Spanish companies in which Morocco is a priority country, said the Spanish official.

In this regard, Ms. Méndez cited several factors that justify Morocco’s positioning, such as its ability to integrate into regional value chains that must be further consolidated, welcoming the initiatives and reforms initiated by Morocco and aimed at its trade openness. . The Secretary of State also emphasized Morocco’s position, considered by Spanish companies as a gateway to the African continent, and a starting point for expanding their activities to other countries on the continent. African, reaffirming the economic attractiveness of Morocco which is part of all the internationalization plans of Spanish companies.

“We must act for mutual benefit by eliminating obstacles and creating a stable business climate conducive to investment between the two countries”, pleaded Ms. Méndez, before calling for “giving meaning to our economies through joint action for shared prosperity, mutual benefit, and co-development.

The inaugural ceremony was held in the presence of the Minister of Industry and Trade, Ryad Mezzour, the Spanish Ambassador to Morocco, Ricardo Díez-Hochleitner, the President of the General Confederation of Moroccan Enterprises (CGEM) , Chakib Alj, and business leaders from both countries. The Morocco-Spain Business and Investment Meeting is being held from June 6 to 8 in Casablanca, with the aim of promoting investment between the two countries.


Please enter your comment!
Please enter your name here