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Rabat – Marrakech Investor Day on Wednesday highlighted the sustainability and attractiveness of the Red city while celebrating the region’s innovative investors.
The Marrakech-Safi Regional Center for Investment hosted the event in partnership with the International Finance Corporation (IFC) and the Swiss State Secretariat for Economic Affairs (SECO).
Marrakech is encouraging foreign investments in sectors including renewable energy, tourism, agribusiness, ICT, and the creative industries.
The organizers in press release noted that global supply chain disruptions, recent geopolitical changes, and the ‘Green Production’ requirement” could be beneficial to increasing business in the city.
“Coupled with the free trade agreements that provide direct access to more than 1.3 billion consumers, [these things] have aptly positioned Marrakech as a sustainable alternative for investors around the world,” the organizers added.
The city’s attractiveness is further enhanced by Morocco’s political stability, openness to European and African markets, business-friendly environment, and modern infrastructure, the organizers highlighted.
Sustainability is another key factor, argued the organizers, because “Marrakech offers investors the opportunity to put a little “green” in their portfolios and decarbonize the world’s industries.”
Morocco has played a major role in Africa as a promoter of renewable energy and sustainable development. The country is aiming to generate 52% of its energy from renewable sources by 2030, increasing its share to 80% in 2050.
The advantages of investments in Morocco were discussed in a large panel composed of Moroccan public officials and private sector representatives as well experts from the IFC.
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The list of panelists included Minister Delegate to the Head of Government in charge of Investment, Convergence, and Evaluation of Public Policies Mohcine Jazouli and Wali of the Marrakech-Safi region and Governor of the prefecture of Marrakech Karim Kassi-Lahlou.
The two officials stressed the resilience, recovery, and reinvention of the region in face of recent economic crises.
General Director of the Cluster Solaire Fatima Zahra El Khalifa and President of General Confederation of Entreprises (CGEM) Youssef Mouhyi also contributed to the panel.
While El Khalifa stressed the importance of investing in the renewable energy sector, Mouhyi commended the resilience of Marrakech in the tourism sector and called for exploring new opportunities in other sectors.
Read Also: Conde Nast Traveller Rates Marrakech Among April’s Best Holiday Destinations
IFC Senior Economist Zineb Benkirane and Director of IFC Maghreb Office Xavier Reille additionally highlighted the “great potential” of the Marrakech-Safi region, noting the strong economic rebound of the region and country following trade disruption due to the ongoing COVID-19 pandemic.
Celebration of Local Investors, Startups
Along with the panel discussion, the event’s calendar included the Marrakech Investor Awards, a celebration of innovative companies in the region.
The ceremony acknowledged the efforts of six investors, five of whom are startup leaders.
The Founder of Trotti startup, Jaafar Hakam, received the “Entrepreneur of the year” award.
The Director-General of Biotech startup Entomonutris Mohamed Derdour won the “Innovative Investor of the year.”
The founder of 3D studio Virtualistic Adnane Abouelouazne won the “Reinvetive investor of the year” prize.
The green investor and social investor awards went to the founder of recycling startup Mika, Said Benhamida, and the founder of bio food and cosmetics startup Terre Brune, Selma Antari.
Along with the startups, the President of Société Impériale des Thés et Infusions (SITI) Holding received the “International Market Developer of the year.” The tea-packing company has operated in Marrakech since 1979.
