Casablanca - An important Japanese delegation, chaired by Deputy Minister of Foreign Affairs of Japan, arrived in Rabat on Tuesday to explore investment opportunities in Morocco.
Casablanca – An important Japanese delegation, chaired by Deputy Minister of Foreign Affairs of Japan, arrived in Rabat on Tuesday to explore investment opportunities in Morocco.
Representatives of the public and private sectors headed by the Japanese Deputy Minister of Foreign Affairs, Shunsuke Takei, met on May 2 with Morocco’s Minister of Industry, Investment, Trade and the Digital Economy, Moulay Hafid Elalamy and the Secretary to the Minister of Industry, Trade and Digital Investment, Othmane Alfirdaous.
The meeting’s agenda comprised two main components: to explore investment opportunities in Morocco, in particular in the automotive, electrical and electronics, finance, transport, and solar energy, and to examine prospects to strengthen the already positive bilateral economic relations.
“We believe that Japanese companies can contribute to the investment momentum initiated in the kingdom in several areas,” said Takei on this subject.
The official pointed out that, while the existing Japanese firms in Morocco have quadrupled in recent years, the Japanese firms eyeing investment opportunities in the kingdom are “numerous.”
Takei also stated his desire to see the bilateral economic relations between the two countries pick up steam.
Elalamy stressed the need to establish a “fruitful” and mutually beneficial partnership between Morocco and Japan. He called on Japanese investors to participate in initiatives set up under the Industrial Acceleration Plan in sectors with important prospects such as aeronautics and electronics.
In this regard, Elalamy shed light on the strategic positioning of Morocco as a financial, technological, production and export hub for many emerging markets, along with its long-term stability, modern infrastructures and visibility for investors Sector strategies.
He also mentioned that that 50 Japanese firms operate in Morocco, namely in the automotive components sector, such as Sumitomo Wiring Systems and Yazaki Corporation, the largest employers in Morocco with 19,000 Employees, and electronic components (Fujikura).
These companies represented 1.09 percent of Morocco’s total foreign trade, at a total volume of trade that hit MAD 6.86 billion.