Rabat – Japanese multinational automobile manufacturer, Mitsubishi, is reportedly leaving Tunisia and planning to merge operations in the country with its operational Casablanca office in Morocco.
Elyes Kasri, former Tunisian ambassador to Japan, said earlier this week on social media that the Japanese giant is leaving the country despite the “success” of the 8th Tokyo International Conference on African Development Summit (TICAD) in Tunisia in August 2022.
The diplomat noted that they had “expected an increase in Japanese presence in investments in Tunisia.”
However, the departure of the Japanese giant “indicates the opposite of optimistic predictions and according to some, this contradicts the reality portrayed by certain Tunisian officials and media.”
According to ilBoursa news, the Japanese company decided to dissolve and liquidate its office in Tunisia.
Quoting a source close to the Japanese company, the outlet reports that the multinational has now been focusing on countries in “which they have made significant investments or there is potential for future investments.”
Morocco has been attracting multinational companies active in different sectors, including the aerospace and automotive industries.
Morocco’s potential in the two sectors comes thanks to its geopolitical and strategic location, making it an attractive market and a gateway to Africa and Europe.
Morocco has been expanding its automotive sector, with the industry’s exports totaling $13.9 billion at the end of 2023.
This marked an impressive 27% year-on-year increase, according to Morocco’s Exchange Office.
