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Morocco highlights investment opportunities in India

Tuesday, 25 January 2011 01:36

Bombay - Industry, Trade and New Technologies Minister Ahmed Réda Chami highlighted on Monday in Bombay (India) investment opportunities offered in Morocco's strategic sectors.

Speaking at a meeting attended by Indian investors and economic operators, Chami showcased the attractiveness of Morocco as a privileged destination for investments thanks its healthy business climate, legislative measures, competitiveness and transparency.

In this respect, Chami provided details on Morocco’s efforts to attract more foreign direct investment (FDI) notably through the enactment of a competition law, the setting up of a ministrial commission on investments, the establishment of regional investment centers and the creation of the Moroccan Agency for investments’ promotion (AMDI).

He said Morocco launched sweeping reforms in institutional and legal fields governing economic activity with a view to facilitate commercial transaction and spur more FDI

The meeting was also an opportunity to highlight some mega-projects launched to reinforce Morocco’s infrastructure such as the Tangier-Med port, the extension of the High-way network, the building of a High Speed Train between Tangier and Casablanca, worth some 20 billion dirhams, in addition to tourism projects part of the 2020 vision.

Chami recalled that Morocco’s reforms during the last decade yielded promising results in the economic field as mirrored in the maintain of inflation rates at acceptable levels and the reduction of budget deficit and unemployment rates as well as posting growth rates reaching 5%.

The Minister invited Indian investors who aim at having access to European and African markets to invest in Morocco and take advantage of its investment opportunities, proximity from Europe, and the free trade agreements that the kingdom signed with the USA and Arab and Mediterranean countries, in addition to the Advanced Status enjoyed by the Kingdom in its relations with the EU.

Touching on the human element, he said Morocco boasts a qualified working force that represents an asset for the national economy.
(MAP)

Global Arab Network

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