Morocco World News and Maghreb Intelligence
Morocco World News and Maghreb Intelligence
Rabat, Nov 2, 2012
CAC 40 bosses were not all thrilled by the monarch’s visit in the Gulf. Thanks to this trip, the King of Morocco has brought back $ 5 billion in investments for the next five years.
Several companies in Qatar and the United Arab Emirates have shown interest in Morocco, threatening French multinationals’ business. Until now, with the exception of a few sectors, French companies were the majority in Morocco. Spaniards and Italians even complained that the Moroccan authorities favored the French for contracts.
Today, with the announcement of the withdrawal of Vivendi from Maroc Telecom and the difficulties encountered by Veolia in Rabat and in the cities of Tangier and Tetouan, the situation of several companies listed on the CAC 40 is difficult.
According to observers, Morocco, which was considered by French bosses as an “economic protectorate”, began emancipating itself five years ago. The aggressiveness of Spanish companies and funds from the Gulf are a serious threat to French investments in Morocco. President Holland’s visit to the Kingdom of Morocco in January could be a crucial time for the CAC 40 bosses, stung by the prospect of losing an easy and lucrative market.
Edited by Louise Riondel
