Speaking during the monthly session of oral questions devoted to “the centrality of the foreign trade sector in the development of the national economy”, Mr. Akhannouch noted that these revenues represent an increase of 50.7% compared to the same period last year “which had experienced a drop in revenue, like all countries in the world, particularly African countries”.
Adn to add that these FDI, which have been announced in recent months, constitute a real force of attractiveness for foreign investors, especially as they will be strengthened soon thanks to the New Investment Charter, noting that it is indeed “a strategic choice which resulted in the signing of several crucial investment agreements, notably the electric battery manufacturing ecosystem, the first of its kind in Morocco”.
Requiring an investment of 3 billion dirhams,this project should contribute to the creation of more than 2,500 job opportunities,noted the head of government.
Likewise, he recalled that the government had signed a memorandum of understanding wiht an international player for the creation of the first factory in Africa for the production of electric car batteries and energy storage systems in Morocco with an investment of approximately 65 billion dirhams, adding that “this will contribute to the creation of 25,000 direct and indirect jobs, which highlights “the leadership and positioning of the Kingdom in the areas of automotive industries”.
Given this regional and international influence of Morocco in this area,continues Mr. Akhannouch, the government is determined, under the wise leadership of HM King Mohammed VI, to continue promoting the green hydrogen sector capable of strengthening positioning the Kingdom as a global axis for lasting energy and an essential lever for the creation of wealth and employment opportunities.
He underlined, in this sense, that the government launched “The Green Hydrogen Morocco Offer” which constitutes a competitive and stimulating offer in this area, with a global and transparent approach and a clear vision for investors, noting that since the publication of the circular implementing “The Morocco Offer” last March until the holding, last week, of a meeting of the Steering Committee, the Moroccan Agency for sustainable Energy (MASEN) received nearly 40 requests from from all over the world (America, Europe, Asia, Australia and Morocco to), covering in particular the Southern Provinces of the Kingdom.
“This data is conclusive proof of the promising prospects of this sector, and of the great confidence that Morocco enjoys with regard to foreign and Moroccan investors in this area,” he rejoiced.
Furthermore, Mr. Akhannouch noted that “the progress made over the last two years constitutes a manifestation of the overall conversion of the national economy and the natural result of a continuous effort by the Executive to respond to development issues and sustainable growth, however, the real challenge remains to obtain a very advanced assessment, particularly in strategic sectors, after the government has established the basic elements to build the Kingdom’s foreign trade on solid and sustainable foundations.
And to underline that Morocco represents a real model in terms of attractiveness of FDI “as we have worked as the inauguration of the government to define priorities and programs, with the aim of developing the industrial sector, particularly high-value industries. added”.
What are the key sectors driving foreign investment growth in Morocco?
Interview: The Future of Morocco’s Foreign Trade and Investment Opportunities
Editor (Time.news): Today, we have the pleasure of speaking with Mr. Akhannouch, the head of the Moroccan government.Thank you for joining us, Mr. Akhannouch. Let’s dive into the remarkable growth of foreign direct investment (FDI) in Morocco. You recently mentioned a 50.7% increase in revenues from this sector compared to last year. What are the main drivers behind this growth?
Mr. Akhannouch: Thank you for having me. The increase in FDI can primarily be attributed to Morocco’s ongoing strategic initiatives and the recent introduction of the New Investment charter. This policy framework considerably enhances the country’s attractiveness to foreign investors. Additionally,our focus on specific sectors,notably the electric battery manufacturing ecosystem,has opened new avenues for investment and job creation.
Editor: Speaking of electric battery manufacturing, can you elaborate on the landmark agreements Morocco has signed in this sector?
mr. Akhannouch: Certainly. We have signed a memorandum of understanding with an international partner to establish the first factory in Africa dedicated to producing electric car batteries and energy storage systems. This project alone entails an investment of approximately 65 billion dirhams and is expected to create around 25,000 direct and indirect jobs. Such initiatives solidify Morocco’s position as a leader in the automotive industry.
Editor: That is indeed significant. You also mentioned the government’s commitment to the green hydrogen sector. Can you explain the potential impact of “The Green Hydrogen Morocco Offer”?
Mr. Akhannouch: Of course. The Green Hydrogen Morocco Offer aims to position the Kingdom as a global hub for lasting energy. As its launch, we have received nearly 40 inquiries from across the globe, reflecting the high level of interest in Morocco’s green hydrogen capability. This sector not only promises to attract investment but also serves as a catalyst for economic diversification and job creation in the long run.
Editor: It’s impressive to see such international interest.How does the Moroccan government plan to sustain this momentum in attracting foreign investment?
Mr. Akhannouch: We are committed to establishing sound foundations for our foreign trade and reinforcing key sectors through policy consistency and infrastructure development. Our vision includes continuous infrastructure enhancement and providing a competitive, transparent environment for investors. the aim is to keep Morocco firmly on the radar of both local and international investors.
Editor: Given the competitive landscape in global markets, what practical advice would you give to potential investors considering Morocco?
Mr. Akhannouch: My advice would be to engage with local stakeholders and understand Morocco’s specific market needs.It’s essential to aligns projects with our strategic sectors, such as renewable energy, automotive, and high-value industries. Moreover, tapping into local talent and resources can enhance the success of any investment endeavor in Morocco.
Editor: Thank you, Mr. Akhannouch,for your insights on Morocco’s foreign trade growth and investment landscape.It’s clear that the Kingdom is on a promising path toward becoming a key player in various industries.
Mr. Akhannouch: Thank you for having me. We are excited about the future and remain focused on creating an environment that supports sustainable economic growth and prosperity for our nation.