“In accordance with the far-sighted vision of His Majesty King Mohammed VI, Morocco has acquired vast experience and now enjoys international credibility” in terms of investment promotion, underlined Mr. Jazouli who spoke at a table high-level round co-organized by the pan-African infrastructure investment platform “Africa50” as part of the USA-Africa Business Summit (May 6-9).
He noted that the Kingdom over the last 25 years has made resolute choices, particularly in favor of the African continent, as well as for economic opening and the establishment of infrastructures meeting the best international standards.
During this round table entitled “African Infrastructure Investment: Impacts and Returns”, the Minister Delegate noted that thanks to these initiatives, Morocco is now positioned as a leader in Africa in the automotive, aerospace and textiles, and is second in the pharmaceutical and outsourcing sectors.
In addition, the development of major renewable energy programs, in line with a proactive Royal vision, places Morocco at the forefront of the global energy transition, he argued, adding that the economic future of the Kingdom is written in green ink.
In the same vein, Mr. Jazouli noted that Morocco is experiencing a significant increase in private investment, particularly with regard to sectors linked in particular to electric mobility and green hydrogen.
“This influx of private investment has exceeded expectations, leading to new demands for green infrastructure: renewable energy, electricity grid, seawater desalination, airports, ports, among others,” he rejoiced.
He further noted that flagship events that the Kingdom will host such as the co-organization of the FIFA World Cup in 2030 emphasize the need for green infrastructure including schools, universities, hospitals, stadiums, high-speed trains and beyond.
Referring to the sources of financing for these large-scale projects, the Minister Delegate said that Morocco has put in place an attractive regulatory framework for investors, offering tax incentives and guarantees for strategic infrastructure projects.
“We have forged unprecedented public-private partnerships, leveraging diverse pathways to mobilize resources and balance risks. This makes public-private partnerships possible in new areas both in Morocco and internationally,” Mr. Jazouli further indicated.
In this context, he noted that Morocco recently launched the development of a 1,500 km electrical transmission line linking Dakhla to the northern regions of Morocco, where the main industrial consumption centers are located. This project leverages the best combination of wind and solar power in the world, he said.
In the same vein, the official recalled that the Mohammed VI Investment Fund, with an initial capital of 1.5 billion dollars, aims to raise at least three times more private capital, noting that the mandate of this Fund consists in particular of stimulating the Moroccan stock market with notable entities like Africa50, which have great growth potential.
Mr. Jazouli also reaffirmed Morocco’s unfailing commitment to the development of infrastructure in Africa, recalling that many Moroccan companies participate in this dynamic across the continent.
He concluded by indicating that Africa must trust Africa as emphasized by His Majesty King Mohammed VI.
Mr. Jazouli leads a high-level delegation to the USA-Africa Business Summit which is being held at the initiative of the Corporate Council on Africa (CCA) under the theme “USA-Africa: a partnership for lasting success”.
The Moroccan delegation is composed in particular of the Moroccan ambassador to the United States, Youssef Amrani, the director general of the Moroccan Agency for the Development of Investments and Exports (AMDIE), Ali Seddiki, the director general of the Office National Hydrocarbons and Mines (ONHYM), Amina Benkhadra and the general director of Casablanca Finance City, Said Ibrahimi.
2024-10-02 14:21:34