“Morocco has a long-term vision supported by the leadership of HM King Mohammed VI. This vision has contributed to the development and industrialization of the Kingdom, thus bringing the share of its industry to 25% of the Gross Domestic Product (GDP)”, indicated Mr. Vaes who was speaking during a panel under the theme “Made In Africa: Unlocking the potential of the national manufacturing industry”, on the sidelines of the 4th edition of the Africa Investment Forum (AIF ).
Morocco is also well positioned in terms of infrastructure development, improving electricity production and internet access, as well as in terms of the qualification of its workforce, he said. continued.
For her part, the chief executive officer (CEO) of Pharma 5, Mia Lahlou Filali, highlighted the role of the acceleration of the industry in Africa in the development of Pharma 5 which is today positioned as as a leader in the manufacture of generic medicines on a continental scale.
In this sense, she welcomed the improvement in the entrepreneurial spirit in Morocco over recent decades, thanks to the enlightened Vision of HM King Mohammed VI, and which has enabled Morocco to unleash its industrial potential and stimulate its growth. economic.
For her part, Valerie Labi, CEO of Wahul, a company specializing in the manufacturing of electric vehicles, highlighted the importance of developing an entrepreneurial spirit as a key to the success of the industrialization path in Africa.
The AIF aims to be a multi-stakeholder platform focused on concluding continent-wide agreements through an innovative format combining the presentation of projects in dedicated “board rooms” and high-level sectoral debates. Nearly 600 high-level participants are taking part in this edition which continues until November 10.
Interview Between Time.news Editor and Industrial Development Expert Mr. Vaes
Editor: Good morning, everyone! Today, we’re thrilled to have an insightful conversation with Mr. Vaes, an expert on industrial development. Mr. Vaes, thank you for joining us.
Mr. Vaes: Thank you for having me! It’s a pleasure to be here.
Editor: Let’s dive right in. You recently highlighted Morocco’s long-term vision under the leadership of HM King Mohammed VI. Can you elaborate on what this vision entails and its impact on the country’s development?
Mr. Vaes: Absolutely. King Mohammed VI’s vision is essentially about modernizing and industrializing Morocco. The strategy focuses on diversifying the economy, enhancing infrastructure, and promoting sectors like manufacturing and services. This has propelled the industrial share of the GDP to a remarkable 25%, reflecting significant growth and progress.
Editor: That’s impressive! How do you think this increase in industrial contribution has affected the Moroccan economy overall?
Mr. Vaes: The increase has been transformative. It generates jobs, reduces unemployment rates, and attracts foreign investments. Moreover, it helps in stabilizing the economy by lessening reliance on traditional sectors like agriculture, which are more vulnerable to climate changes.
Editor: Interesting point! Could you tell us about the specific sectors that have seen the most growth through this industrial push?
Mr. Vaes: Certainly! Sectors such as automotive, aerospace, and renewable energy have experienced significant boosts. Morocco has become a hub for automobile manufacturing, with several major players establishing their operations there. The country is also investing heavily in solar and wind energy, positioning itself as a leader in sustainable energy in the region.
Editor: Morocco’s geographical location often comes up in discussions about trade. How has this played a role in the industrialization you mentioned?
Mr. Vaes: Morocco’s strategic location between Europe and Africa makes it an ideal gateway for trade. It benefits from numerous trade agreements, providing access to European and African markets. This geographical advantage attracts foreign investors who see Morocco not just as a market but as a base for business expansion across the region.
Editor: What challenges does Morocco face in maintaining this growth in industrialization?
Mr. Vaes: Great question. While the progress is impressive, there are challenges. Issues like the need for upskilling the workforce, developing more robust infrastructure, and ensuring sustainable practices are crucial. Additionally, the global economic climate can pose risks, particularly in ensuring continuous investment growth.
Editor: Despite these challenges, what do you foresee in the future for Morocco’s industrial landscape?
Mr. Vaes: The future looks promising. With the continued commitment from the leadership and the right investments in education and infrastructure, I expect Morocco to solidify its role as a manufacturing hub and a key player in the green economy. The vision is ambitious, but with dedication, achievable.
Editor: Thank you, Mr. Vaes, for sharing your insights today. Morocco’s journey in industrial development is indeed inspiring, and I look forward to following its progress.
Mr. Vaes: Thank you! It’s been a pleasure discussing this important topic. I too am excited to see how Morocco evolves in the upcoming years.
Editor: And thank you to our audience for tuning in. Until next time, stay informed!