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Rabat – A group of Moroccan entrepreneurs living abroad plans to invest €2 billion (MAD 21 billion) in the country.
Presiding a delegation of Moroccan entrepreneurs from over the world (MEMs), Karim Ammor announced the news in Casablanca on October 6, stating that the investment projects are planned in the next six to 12 months across Morocco.
The investments will also include the Dakhla-Oued Eddahab region, where renewable energy and infrastructure projects are booming.
“These MEMs have created a consortium to both come and invest in Morocco and bring companies from their regions with them to invest in concrete projects,” Ammor said.
Said Bouharrak, a member of the delegation, cited several projects the group of entrepreneurs is interested in, including the agricultural sector and the export of red meat.
“The change in conditions in Europe concerning ritual slaughter presents a real opportunity to start to export,” Bouharrak said, stressing that Flemish partners plan to carry out an investment estimated at €314 million across Morocco.
“Moroccan partners will cooperate with us from start to finish to achieve a certain quality and meet the traceability and hygiene report,” he said.
Another company is also planning to launch a plastic-to-fuel recycling project with a budget of almost €150 million ( MAD 1.6 billion) to contribute to solving the problem of plastic waste and energy shortages.
The investment projects came to answer King Mohammed VI’s latest appeal, calling on Moroccan diaspora members to seize the investment opportunities presented in Morocco.
“I call once again on Moroccan youth and on project holders residing abroad to make the most of the numerous investment opportunities in Morocco, as well as the incentives and guarantees offered by the new investment charter,” the king said in his speech on the anniversary of the Revolution of King and the People.
He also acknowledged, however, that there are still more efforts to be done to ensure a better climate to attract Moroccan diaspora investments.
The monarch said that despite the state making significant efforts to receive Moroccans living abroad in the best conditions, those efforts remain “not enough.”
