Morocco can be real basis for Europe’s industrial development: official

PERSISMA, Madrid – “Morocco can be a real basis for Europe’s industrial development,” said Thursday in Madrid Moroccan Industry, Trade and New Technologies Minister Ahmed Reda Chami.

Morocco can also be a gateway to new opportunities for foreign investors, he said, during a day under the theme “Morocco, a centre for the car industry competitiveness”, organized by the Moroccan Agency for Investment Development.

Speaking before hundreds of Spanish businessmen including notably from the automotive industry, Chami said that “Morocco has shown to be a stable country that is doing well economically, through a series of measures, including those aimed at attracting foreign direct investment (FDI),” which rose by 28% in 2010 compared to the previous year.

He explained that the Kingdom has seen significant economic progress over the past ten years, making it “an attractive platform” for foreign investors thanks to strong macroeconomic foundations, the government’s ambitious development plans and strengthening of infrastructure.

Morocco, he said, depends on four “decisive, strategic” factors to attract more FDI, an “ideal” geographical location vis-à-vis European and African continents, the competitive cost of labour, the free trade agreements with several countries and a stable and encouraging business environment.

Source: MAP