Gov’t Chief : Morocco, Ideal Partner with All Assets to Transform Challenges into Opportunities

Speaking at the World Economic Forum in Davos, Akhannouch reiterated the government’s commitment to accompany partners “in the act of investing, through the acceleration of reforms and the continuous improvement of investment conditions, in order to build together the path of common value creation”.

“Today in a multipolar world, the Kingdom, under the enlightened leadership of His Majesty King Mohammed VI, has become a regional model,” he added, recalling the building of modern and democratic institutions embodied by the 2011 Constitution, the reform of the Family Code, and the launch of advanced regionalization as a mechanism of participatory democracy.

“We have built infrastructure to the highest international standards, which gives Morocco an air-land-sea connectivity unmatched in the region: 2,000 km of highway network – the first high-speed rail line in Africa – the continent’s largest port on the Mediterranean – and soon the largest on the Atlantic – as well as 14 international airports offering a very important African projection capacity,” he added.

These infrastructures have enabled Morocco to develop a resilient agriculture, a particularly attractive tourism sector and efficient industries, notably the automotive industry and aeronautics, which are now considered a reference, said the Head of Government.

At the continental level, Akhannouch noted that the Kingdom has developed “relations of trust” establishing it as a privileged partner, recalling that over the past 20 years, the more than 50 visits of HM the King to Africa have led to the signing of more than 1000 cooperation agreements.

Against protectionist reflexes, it is in Africa that the AfCFTA, the largest free trade area, was created, he added, noting that “strong of its free trade agreements with the European Union, the United States and through the establishment of the AfCFTA, investing in Morocco gives access to a market of 2 billion consumers”.

Akhannouch also noted that Morocco has also become a leader in sustainable development, which is the economic and human challenge of the current generation, noting that “renewable energy accounts for 38% of our energy mix, and our ambition is to increase it to over 50% by 2030”.

The Head of Government highlighted the competitive advantage of Morocco in terms of renewable energy, stating that Morocco is counting on the development of the green hydrogen sector in order to become “a major player in the decarbonization of the global economy”.

At the crossroads of Europe, the Atlantic and Africa, the geostrategic potential of the Kingdom positions it favorably in the reorganization of global value chains, noted Akhannouch, stressing that to seize the various assets, Morocco has a new Investment Charter, “posing a new attractive and incentive framework that addresses all investors, domestic and foreign ones, and all investments, whether small or large”.