By Nasser Bouzboune
By Nasser Bouzboune
Cyprus – During the past decade, more and more companies are choosing to settle in Morocco for business.
Bombardier Aerospace, for instance, decided to shift its production of flight controls to a transitional facility stationed at the Mohammed V Airport, which is not far from Casablanca. The company has even opted to build a permanent plant in the region. Delphi, a supplier of electronics and technology for the automotive industry, has had its own factory in Morocco operating since 1999.
An investment trend is on the rise throughout the world, and the biggest players are turning towards Morocco. Yet, one question remains, “Why is Morocco such an attractive region for investment?“ Many factors should be taken into consideration when answering this question. The country is known to be stable politically, growing economically, and geographically well-placed. Thus, it is open for investment in numerous sectors.
The new constitution, which was approved in 2011, endowed the country with better lawmaking, individual and collective rights, and human rights. As a consequence, half a decade later, economic growth has increased by 4.9%, while inflation has remained under 2%. This led Morocco to mend its infrastructure and benefit from its economically strategic position in the globe. The Tanger-Med Port, located about 16 km away from Europe, is one of Africa’s largest and busiest ports. It has enhanced business between Morocco and Europe, attracting organizations to relocate their production centers as close to the port as possible. The country is now living up to its potential of becoming a huge global exporter, being at the intersection of maritime trade routes.
The areas in which investors are most interested nowadays are property and real-estate. By investing in property, a businessman can purchase land using bank loans; he can pay off the loan through rent from tenants or sales to customers. Statistics from The Times Rich List have shown that about 50% of people have made money from property investment, and that a property worth $4,500 three decades ago would be worth around $250,000 today.
As a pioneer in emerging markets, Morocco provides prosperous and well-disposed opportunities at great market prices compared to many of the other investment destinations. A $10M-per–year deal struck between the Kingdom and the UAE in 2010 has led to a dramatic increase in tourism. The deal was a total success mainly because of the tax advantages and other incentives that investors enjoy in the country.
The Global Peace Index ranks Morocco as the 86th most peaceful country in the world. The number of foreigners (mostly retired people) who move to the Kingdom permanently proves that the country is a stable and peaceful region to live in. Being both traditional and cosmopolitan, Morocco today has the perfect mix. Differences in religion and practice are tolerated, since the country provides the required facilities for practice. Freedom, democracy, and law all categorize Morocco today ; they are the primary reasons why Morocco’s political formula functions in harmony.
Morocco’s economy is among the most dynamic and elite in African and Southern Mediteranean countries. Morocco is especially attractive for Europeans as their economies become less profitable. Open for business and investment in multiple sectors, it attracts business from around the world. Not bad in the aftermath of the Arab Spring!
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