Morocco promotes local development by attracting foreign investment

A recent US report stated that “Morocco is working hard to promote local economic development by attracting foreign investment”, and said that “while significant challenges such as illiteracy and poverty still exist, the path chosen by Morocco appears to be very fruitful. The recipe is simple; But it is powerful: creating an enabling business environment by removing barriers and bottlenecks, building win-win partnerships with companies in liberal democracies committed to international investment standards and the trading system, fighting corruption, guaranteeing the rule of law and the education of young people and giving them the freedom to participate in productive activities”.

The report, issued by the American Center “Institute for Global Policy” and entitled “Morocco’s Road to Development”, spoke of transforming the Kingdom into a “regional business center”; By “creating a business climate that encourages foreign investors to seek favorable conditions”, since “the country plans to take advantage of its unique position as a multilingual and global country to attract more investment in the most innovative sectors”, according to Paulo von Schiras, president of the aforementioned American Center.

Paulo von Schirass said: “Morocco has political stability, a strategic geographical location and a strong infrastructure, which have contributed to its emergence as a regional base for international manufacturing and export companies. Morocco actively encourages and facilitates foreign investment, particularly in export sectors such as manufacturing, through positive macroeconomic policies, trade liberalization, investment incentives, and structural reforms.

“Morocco’s comprehensive economic development plan seeks to transform the country into a regional trading hub leveraging its unique position as a multilingual and global country located at a tripartite regional focal point in sub-Saharan Africa, the Middle East and Europe,” said the director of the Global Policy Institute.

The recent US report monitored many advantages that Morocco has, the most important of which is its ability to reserve a good title in “doing business”, noting that “Morocco has striven to gain a distinctive space among countries seeking to attract foreign investors. ”, he continues: “Furthermore, according to the Corruption Perceptions Index, Morocco ranks 87th on a par with Colombia, and in a better place than Brazil or Turkey”.

The second positive aspects mentioned in the document are related to “modern infrastructures”, praising the position occupied by the port of Tanger Med in 23rd place in the world, and the first in the Mediterranean Sea, not to mention its availability in the high speed. train since 2018.

The same source pointed out that the country is “a major exporter of fertilizers and agro-industrial services”, saying: “Morocco has managed to transform its vast wealth of phosphate minerals into a diversified conglomerate. Now, in addition to producing minerals and fertilizers, it sells agribusiness consulting services to many international clients; Including many African countries.

The author of the report also spoke about “investing in education and gender equality”, saying that “the ongoing efforts of the government in the field of higher education. A promotional video produced by the Moroccan Agency for the Development of Investments and Exports shows that each year the country produces 152,000 graduates with industrial skills.

He continued: “Moroccan women enjoy a degree of freedom that is unique in the Arab world and other Islamic countries. Moroccan women can study, work, live alone and run for political office. While there is still a significant cultural gap between more liberal urban societies and more conservative mores in rural areas, Morocco in general has made significant improvements over the last 20 years when it comes to promoting gender equality.”