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Rabat – The President of Morocco’s Tangier-Tetouan-Al Hoceima Region Council, Fatima Al-Hassani, received an economic delegation from China led by the vice president of the CRBC on Tuesday, March 30.
The China Road and Bridge Corporation (CRBC), a subsidiary of China Communications Construction Company (CCCC), is the Chinese partner in developing Morocco’s first smart city, Tangier Tech.
CCCC/CRBC signed on to the project in November 2020, contributing approximately $1 billion (MAD 9.1 billion) in funding. The Chinese corporations own 35% of the company’s capital.
The meeting, which also served to address future investment opportunities for the Chinese giants, took place as part of regular consultations of the partner parties in the framework of preparing for the launch of the Mohammed VI Tangier Tech City. The project is the largest Chinese investment project in North Africa.
According to a press release from the Moroccan regional council, Al-Hassani emphasized the importance of the visit. She also expressed her hopes that the tech city will serve as a successful model for the Sino-Moroccan partnership in both Africa and the Mediterranean basin.
Read also: Japan, Morocco Sign Agreement on Infrastructure, Investment
Underlining the opportunities for investment in the Tangier-Tetouan-Al Hoceima region, Al-Hassani presented the various economic, industrial, and natural provisions present. She also reminded the Chinese delegation of Morocco’s “geostrategic position” as the gate to Africa.
The president of the regional council also stressed that the board welcomes all regional investment projects, and shared her willingness to start negotiations with the appropriate authorities in order to facilitate economic growth and stability.
The General Manager of CRBC, Shen Jie, reiterated Morocco’s position as the preferred destination for foreign investors. Jie cited the country’s opportune environment for investment, infrastructure, and geostrategic position, as well as the quality of life, as some of the desirable indicators for Morocco’s position.
During the meeting, Jie also announced CRBC’s desire to launch an investment project in the wind energy sector, which would both support the regional “economic dynamism,” as well as contribute to creating job opportunities in the region.
