Rabat - Morocco is an exceptional case in the Arab region and investors are confident in its political and economic stability, Financial Times writes.
Rabat – Morocco is an exceptional case in the Arab region and investors are confident in its political and economic stability, Financial Times writes.
The country’s economic and political stability – rare commodities in the region – have already brought returns, as tourists numbers were up by 7 per cent in 2013, the business daily said.
Noting that investment in the automobile sector has grown, with car exports increasing 70 per cent year-on-year in 2013, the daily recalled that earlier this year, the government sold a € 1bn Eurobond – its first euro-denominated bond in four years.
Many analysts predict Morocco will be North Africa’s best performing economy in coming years, Financial Times said, noting that Morocco aims to become a platform for production and export to African countries through Casablanca Finance City (CFC), a new regional finance hub.
Rabat is also looking south to the fast growing economies of sub-Saharan Africa, the daily underlined, adding that trade has increased to an average of around $ 1bn per year and Moroccan investment outflows to Africa have jumped by more than 40 per cent over the past decade.