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Marruecos

Morocco attracts US investment

The ASMEX has highlighted in Casablanca the opportunities offered by the Alawi kingdom, as well as the desire to benefit from the latest technologies that the North American country possesses
Marruecos atrae mas inversiones de Estados Unidos

PHOTO/AP  -   Morocco attracts more US investment

The Moroccan Association of Exporters (ASMEX) held a meeting in Casablanca in the presence of the United States. The event was attended by Lawrence M. Randolph, Consul General of the United States in Casablanca. Hassan Sentissi El Idrissi, President of the ASMEX, took the opportunity of this celebration to call on American investors to continue to settle in the Kingdom.

To this end, the director of the ASMEX recalled the opportunities that Morocco offers for future investments. The North African nation has a great political and economic stability that is of great interest to international companies looking for a new place to open business and enter the African market. To this end, the Moroccan government has facilitated the investment process for foreign brands by offering them tax advantages, as well as reductions in various taxes and incentives.

El Idrissi stressed that the United States is a potential ally for boosting Morocco's national economy. The Alawi country has shown great interest in the need to acquire US technological equipment in order to improve certain needs in different regions of the territory. 

AFP/FADEL SENNA  -   Empleados del grupo francés Renault en Marruecos trabajan en una línea de producción fase en la fábrica de Renault en Tánger
AFP/FADEL SENNA - Employees of the French Renault Group in Morocco work on a production line at the Renault factory in Tangier. 

In particular, Morocco is seeking to acquire the technology needed for seawater desalination. The nation is in the process of installing several plants capable of carrying out this process. This is because recent droughts in the country have destabilised the situation in the territory, in which many farmers have been forced to waste several harvests, and, consequently, have been unable to plant others due to lack of irrigation. This has led to historic falls in the agricultural sector, which is also one of the mainstays of the Moroccan economy.

In the same way, Moroccans have also suffered the consequences of one of the worst droughts in thirty years on record. The executive has had to implement measures such as supply cuts, specific timetables for using water, and other measures that have made the issue very restrictive so as not to waste the liquid.

As a result of this situation, ASMEX has called at the meeting for the establishment of a mixed maritime partnership. This would allow the two nations to establish a treaty that would allow Moroccan-US collaborations to reach their peak and offer more business opportunities. This partnership is part of the free trade agreement (FTA) signed in 2004 between the two nations, which has allowed for the advancement and intensification of joint bilateral relations, as well as various cooperation projects. 

AFP/FADEL SENNA - Laboratorio del centro de formación en tecnologías de la información "1337" en la ciudad central de Marruecos, Khouribga
AFP/FADEL SENNA -  Laboratory of the "1337" IT training centre in the central Moroccan city of Khouribga.

According to data collected in November last year on the occasion of the 15th anniversary of this agreement, this treaty has led to a large increase in Moroccan exports to the United States, as well as the creation of several jobs and the creation of projects in which several key industries have been developed, such as aeronautics and the automotive industry.

On the other hand, the United States is in the midst of promoting an investment summit called "Select USA 2022". The country governed by Joe Biden is immersed in a promotional tour to highlight the opportunities offered by investing in the country. The consul has highlighted during the meeting the good possibility of investing in some of the key states of the nation. The forum will be held from 26 to 29 June in the city of Washington, and aims to close with a promotion of economic activity and the strengthening of some relations between nations.

The event between the United States and Morocco has once again demonstrated the good ties between the two countries, as well as their interest in continuing to cooperate. For this reason, it has been agreed to organise another meeting in the near future. This will be a webinar in which several Moroccan, American and some sub-Saharan African companies will be able to meet in order to continue to promote mutual cooperation and to make some joint agreements.

Americas Coordinator: José Antonio Sierra