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Morocco: Can Tourism Carry the Economy Through the Difficult Years Ahead?

Marrakech - The Moroccan government insists that 2014 will be a good year despite the fall in phosphate exports and the likelihood that agricultural production of cereals may fall by 31% this year due to adverse conditions. Growth projections from the IMF, World Bank, and the HCP vary from 3 to 3.5%. Morocco’s automotive sector has now done better in exports than in phosphates, as OCP encounters a difficult ...

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Morocco Attracted $3.36 Billion of FDI in 2013: UN

Geneva - Morocco has attracted 3.36 billion dollars of foreign direct investment (FDI) in 2013, a significant increase of 23 percent compared to the previous year, according to a UN report on "World Investment." According to the report of the UN Conference on Trade and Development (UNCTAD), the Kingdom is reinforcing its positioning as a hot destination for foreign investment, thanks to an industry with a s ...

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Lagarde Call on Her Blog For Freeing up the Moroccan Economy

Marrakech- In her IMF blog, Managing Director of the IMF Christine Lagarde recorded her impressions of her recent visit to Morocco, noting how well the economy has performed in the face of global recession and the aftermath of the Arab Spring. Morocco has remained stable whilst its neighbors have been in turmoil, and further economic reforms in Morocco are on the way. The head of the IMF noted that the prob ...

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Moroccans Pessimistic about the Future: HCP Statistics

Casablanca- The alarming statistics revealed by the High Commission for Planning (HCP) last week on the rate of unemployment in Morocco have incited Moroccans’ pessimism about the future of employment in the kingdom. Nearly 114,000 Moroccans have joined the camp of jobless citizens and around 10,000 jobs were lost, according to the HCP. A report recently revealed by the same institution has shown Moroccans’ ...

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Foreign Direct Investments in Morocco Increased 24% in 2013: Benkirane

El Jadida-  Head of government, Abdelilah Benkirane said despite the impact of the global economic crisis, Morocco's economic appeal was strengthened thanks to the increase by 24% in foreign investment in 2013. In a speech given on his behalf by minister of state, Abdellah Baha at the opening of the 3rd Arabs Business Forum, held Monday in El-Jadida, the head of government said that over 20 billion dollars ...

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Fitch Ratings Says Morocco’s Outlooks on Long-term IDRs Are Stable

London - Statistical rating organization Fitch Ratings has affirmed Morocco's Long-term foreign and local currency Issuer Default Ratings (IDRs) at 'BBB-' and 'BBB' respectively. The issue ratings on Morocco's senior unsecured foreign and local currency bonds were also affirmed at 'BBB-' and 'BBB' respectively. The Outlooks on the Long-term IDRs are Stable, it said. The Country Ceiling was affirmed at 'BBB' ...

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Four Moroccan groups among North Africa’s top 10 enterprises in 2014

Paris - Four Moroccan groups are listed among North Africa's top ten enterprises for 2014, according to a ranking published by "Jeune Afrique" weekly published in Paris. The groups are Samir (oil refining), SNI (national investment company) OCP (phosphates) and Maroc Telecom. Samir and SNI also appear in the top 20 list of 500 best enterprises. Overall, 77 Moroccan enterprises are listed among the 500 first ...

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Aeronautics: A Boeing Leader Highlights Moroccan Market Attractiveness

Washington -  Boeing's director of supply chain management Bob Noble highlighted, in a statement to MAP on Friday, the attractiveness of the Moroccan aeronautics market. The Moroccan market stands out thanks to its sound government structural policies, infrastructure, training programs and skilled labor, said Noble who lauded Boeing's participation in the second summit of suppliers slated on April 8-9 in th ...

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7 out of 10 Working Moroccan Women Hold No Degree: Report

Casablanca- According to daily La Vie Eco, a recent report by the Higher Commission of Planning (HCP) showed that the bulk of Moroccan working women are “relatively young” and hold no diplomas. In rural areas, women aged 25 years old constitute 20% of the total number of working women, whereas in urban areas, women of the same age represent only 10%. According to the same report, 57.7% of working women in M ...

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300 Irish people worth more than Morocco’s GDP: source

  Rabat- The Irish news website Independent has recently published a news story which compares Morocco’s global gross domestic product to the wealth of Ireland's richest 300 in 2014. This week, the Independent published a list of wealthy Irish citizens. The Irish independent said Ireland's 300 wealthiest people “are now worth more than the entire economy of Morocco.” The wealthy elite have net assets o ...

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Othmane Benjelloun Heads Forbes’s List of Moroccan Billionaires

Rabat- Othman Benjelloun, owner of BMCE Bank, was ranked the richest billionaire in Morocco, followed by Miloud Chaabi, while the Minister of Agriculture and Marine Fishing, Aziz Akhenouch, occupied the third place. Through his company FinanceCom, Benjelloun, the 81-year- old businessman, has investments in banking, insurance, and telecom in Morocco. His BMCE Bank is one of Morocco's largest banks. Its acti ...

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Morocco is a hot destination for investment: Chinese ambassador

Rabat- China's ambassador to Morocco Sun Shuzhong hailed the business climate in Morocco which is favorable for investment mainly in the field of energy, mining and oil and gas exploration. Morocco is a favorable investment destination for Chinese economic operators wishing to integrate several sectors including renewable energy and oil and gas exploration, said Sun in a statement to MAP after his meeting w ...

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