Morocco’s potential for sustainable investment, green energy generation and readily available investment opportunities took center stage in London this weekend.
Morocco’s latest investment event to promote investment in its south took place ahead of the country’s Green March anniversary. Titled “Morocco’s Southern Provinces: A Growing Hub for International Investments,” the event highlighted the significant development and opportunities available in its southern region.
This conference, organized by Morocco’s embassy in London, showcased a wide variety of opportunities available in provinces including Dakhla-Oued Eddahab, Guelmim Ouad Noon, and Laayoune Sakia Hamra, with opportunities for British businesses and investors.
Ambassador Hakim Hajoui hosted this event in the City, London’s most prestigious business area. During the conference’s opening he emphasized the significance of Morocco in West African development as it has been a leading country in sealing partnerships and agreements for many years.
Boosting investment
Following the Morocco Now initiative, the Kingdom of Morocco has recently undertaken special efforts to extend the international financial involvement within the private sector, with a focus on agriculture, aquaculture, aerospace, energy, and manufacturing across the nation.
Alongside this, Morocco’s King Mohamed VI has specifically expressed the desire for greater foreign investment in what is described as the ‘gateway to Africa,’ the Dakhla-Oued Eddahab region in the southernmost part of the country.
With the consistent openings of new consulates in the region, the region has expanded its links with Europe, the US and the African continent. Presently, 26 regional Consulate Generals have been opened by a variety of countries in the cities of Dakhla and Layyoune, making the region’s two largest cities the perfect center point for foreign business and tourism.
Moroccan ambitions
At the conference, close attention was paid to the ongoing efforts of Morocco’s green energy plan that aims to see 52% of the country’s needs to be produced from renewable green energy.
This figure was provisionally aimed at 2030; however, the country aims to accelerate this process by attracting foreign investments within the fields of human resources, solar, wind, and hydro energies, aquaculture, and agriculture.
Expert panelists highlighted the geographical and political desirability of the southern region through presentations on its current developments and the local natural resources available, such as high wind speeds for wind farms, long solar hours for solar power, and aquatic diversity that can allow sustainable fishing.
Ali Seddiki expressed the importance of Morocco in setting and reaching these goals as Morocco was the first non-EU country to sign the EU’s Green Partnership deal. This deal aims to promote climate change efforts, advance the global energy transition, and boost the green economy, all of which were addressed during the investment event.
Investor’s views
During the “Morocco’s Southern Provinces: A Growing Hub for International Investments” event, current investor panelists like Gregory Baker who provided testimonials and an investor’s view of what British and other foreign investors should expect from the excellent opportunities available in Dakhla and other cities in the southern regions of Morocco.
Baker explained how his passion for kite surfing led him to do business in the coastal city of Dakhla and was one of many panelists to invite people to visit Dakhla, Laayoune, Guelmim and other cities in Morocco’s southern regions to witness the true potential.
British investors continue to do relatively less business in Morocco compared to the French and other European counterparts. Only 5% of foreign investment in the Moroccan economy is currently coming from the United Kingdom.
Meanwhile, the British and Moroccan royal families have a close relationship that is being echoed in cooperation which could soon see British homes powered by Moroccan solar power.
Following a successful conference Morocco has made its case why it should be perceived as the most appealing country for British investors as a strong forward-thinking nation that ensures security, and economic stability, as the world’s most significant connection between Africa and Europe.
Source: Morocco World News
