16 French companies will be able to invest in the Kingdom in the field of industry and renewable energies

Bpifrance organiza en Marruecos una convención económica enfocada en proyectos sostenibles

photo_camera AP/ABDELJALIL BOUNHAR - Morocco's Noor 3 solar power plant in Ouarzazate, Morocco

The public investment bank Bpifrance, in collaboration with the French Chamber of Commerce and Industry of Morocco and the French Agency for Ecological Transition (ADEME), has organised from 21 to 25 February an economic prospecting conference in Morocco with the aim of enabling 16 French companies to invest in the field of industry and renewable energy, as reported by Bpifrance in a statement.

These days called 'Explore & Match Industry 4.0 and Energy Transition Morocco' are being held in Casablanca with the aim that "the emblematic companies of the French Fab and renewable energy sector can develop their client portfolio in Morocco and establish qualified and sustainable business relationships," the statement read. This will enable these companies to decipher the strategies of the main Moroccan buyers and strategic players, analyse local competition and calibrate the commercial means adapted to Moroccan partners.

Visits to industrial sites and seminars in the presence of several Moroccan and French institutions, together with representatives of the local public-private business ecosystem, are scheduled to take place during these days. A discussion time and a programme of one-to-one business meetings with French Foreign Trade advisors is also planned.

REUTERS/YOUSSEF BOUDLAL - Un molino de viento generador de Saudi Acwa Power en Jbel Sendouq, en las afueras de Tánger, Marruecos

This programme is the first operation of the new North Africa regional office of Bpifrance, based in Casablanca. This economic convention is part of the bank's strategy to strengthen its presence in Africa and diversify activities on the continent. However, it is not the bank's only office on the continent, but also operates in other parts of Africa such as Abidjan, Dakar and Nairobi, which it intends to complement.

In any case, the French group's reasons for betting on Morocco in its African ambitions are due to the "logistical and financial commercial centre that Morocco represents in Africa", according to the bank's press release. "The strategic location with access to both the Mediterranean Sea and the Atlantic Ocean makes Morocco a gateway to Africa," it explained. In addition, the Alawi kingdom has been described as an "attractive business tourism destination" by the IMF's positive assessment.

In addition, the green agenda offered by the North African country has also been one of the key strategies for these 16 companies to collaborate with Morocco, especially the industrial decarbonisation and ecological transition. "Morocco stands out as a sub-regional financial centre and also for its avant-garde vision of green transition, which has already attracted French companies," the statement concludes.

PHOTO/ARCHIVO  -   Energía eólica en Marruecos

In this sense, Morocco is implementing more sustainable policy projects that put the Kingdom on the map of countries that can potentially emerge as world leaders in the export of green hydrogen by 2050, according to the International Renewable Energy Agency.

In any case, and with regard to these recent days in Casablanca, this is not the first time that France has taken a step forward in forging economic agreements with Morocco. In recent years, France and the Alawi kingdom have maintained economic cooperation and agreements. The last of these was last November, when Paris and Rabat agreed to invest in the Mohammed VI Fund during a visit to Morocco by the French Minister Delegate for Foreign Trade, Franck Riester.

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