Morocco-Germany: Industry Minister showcases Morocco’s economic assets

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Marrakech  –  Industry, Trade, Investment and Digital Economy minister Moulay Hafid El Alamy showcased, during a meeting with a German businessmen delegation on Thursday in Marrakech, Morocco’s business opportunities and its special location as a hub in Africa. Members of the delegation accompanying German foreign minister Frank-Walter Steinmeier, as part of a working visit to Morocco, closely followed the large array of Moroccan incentives for foreign investors, the guarantees concerning business climate, the quality of port and airport infrastructure, and the inflow of foreign enterprises gaining a foothold in Morocco. After surveying Morocco’s new sectoral approach for the emergence of industry over the past few years, El Alamy insisted on the platforms of car and aeronautics industries. With leading companies as “Bombardier”, nearly 117 aircraft parts manufacturers and 230 others in the car industry, these platforms are among the main exporters in the Kingdom, he said.  The minister highlighted opportunities offered by Morocco as accessing a one billion consumer-market thanks to free trade agreements (56 countries), and the position of a hub in Africa with Moroccan enterprises operating in several countries of the continent, recalling that over 40% of Sub-Saharan Africa’s loans are granted by Moroccan banks notably in western Africa. Morocco’s strategic location, and the performance of Moroccan businesses in Africa mainly in the sectors of finance, real estate, telecommunication and air transportation are all assets that make the Kingdom a hub for business development in Africa, he said.

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