CNBC-Africa highlighted the huge progress made by Morocco to enhance its attractiveness to foreign investors

CNBC-Africa highlighted the huge progress made by Morocco to enhance its attractiveness to foreign investors

In wake of its political stability and its large amount of assets Morocco achieved great successes in terms of strengthening its business climate and thereby confirms its strategic position as gateway for European and Chinese investors in the African continent said Mrs Leila. Mokaddem, Country Director of the African Development Bank (ADB) for Morocco.

A strong Moroccan delegation took part in the second edition of the Africa Investment Forum to present Morocco’s global economical strategy and its tremendous business opportunities.

This High-level Moroccan delegation included representatives of several sectors namely energy, agriculture, fertilizers and financial services said Mrs Leila. Mokaddem pointing out the Moroccan banks have succeeded in strengthening their presence in several countries of Sub-Saharan Africa.

Adding that between 65 and 70 pc of Moroccan investments abroad are in Africa, She outlined that the Kingdom is one of the main investors in the continent.

In the meantime Morocco has become a very important hub thanks to the huge investments made in infrastructure, she said, referring to the Tangier-Med port, the automobile industry, aeronautics, agribusiness and renewable energies.

She emphasized the AIF was also an opportunity for the Moroccan delegation to present the strengths of Morocco in order to attract more foreign investment in the country.

Focusing on the energy sector, the Country Director of the African Development Bank underlined morocco’s key role in the program The Desert to Power initiated by the African Development Bank (AfDB) to provide electricity to 250 million people in the Sahel region.

This initiative confirms Morocco as a leader in renewable energies, a leadership that the Kingdom uses to share its expertise in supporting capacity building in other countries, particularly in Africa, Ms Mokaddem said.

Regarding the cooperation between Morocco and her institution Mrs Mokaddem noted that the Kingdom is the first customer of the ADB.

This longstanding and fruitful Cooperation between the two sides concern several sectors including renewable energy, strengthening the competitiveness of Moroccan regions, said Mrs Mokaddem, adding that this cooperation also extends to support partnerships between the public and private sectors.