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Rabat – Jeong Hoon Kim, Head of Real Solutions at Hyundai Rotem, commended Morocco’s business climate, stating that the country is emerging as a key destination for foreign industrial investment.
Hoon Kim made his remarks on the eve of the Throne Day, which marks the 26th anniversary of King Mohammed VI’s accession to the Throne. Morocco will observe the commemoration on Wednesday, with the monarch expected to deliver his traditional annual address..
Impressed by the development Morocco’s sectors have achieved in recent years, Hoon Kim said Hyundai Rotem has been following the Moroccan market for ten years.
He affirmed that Morocco showed a remarkable resilience in the face of the COVID-19 pandemic, stating that the North African country represents a “long-term strategic market for Hyundai Rotem.”
He also called for the recent signing of a contract with Morocco’s National Railway Office (ONCF). In February, the company celebrated a remarkable and historic deal to supply double-decker trains to Morocco.
The contract was signed between ONCF and Hyundai Rotem for $1.5 million, which will be invested in designing new trains that reach speeds of 160 kilometers per hour. The trains aim to connect Casablanca to key regions across Morocco.
Hoon Kim conveyed the group’s desire to be part of a lasting cooperation with Morocco, expressing interest in the country’s Rail Plan 2040– which he described as an “ambitious roadmap.”
The plan aims to expand Morocco’s rail network, and Hyundai Rotem is ready to actively contribute to the program’s implementation, he said.
Key factors attracting foreign investors are the country’s political and economic stability, he stated, citing the presence of Korean companies like Hands Corporation, which set up a car parts production unit in Morocco exclusively for the EU market.
“This is a model of win-win cooperation that we wish to replicate,” he concluded.
