King Mohammed VI painted tonight a picture of Morocco as having experienced unprecedented economic transformation while calling for urgent measures to address regional disparities and ensure inclusive growth across all territories.
Morocco’s “industrial exports, particularly those linked to global trades, have more than doubled since 2014,” the monarch said during his Throne Day speech commemorating the 26th anniversary of his ascension to the throne.
He stressed that Morocco is adopting a beneficial strategy to boost its economy in various vital sectors.
“Thanks to the strategic orientations that Morocco has set for itself, the automotive, aeronautics, renewable energy, agro-food industries and tourism sectors now constitute an essential lever of our emerging economy, both in terms of investment and job creation,” King Mohammed VI explained.
Morocco’s position as an investment destination has been reinforced by its extensive network of partnerships, he argued, stressing: “As a land of investment par excellence, emerging Morocco is unique in the multiplicity and diversity of partners with whom it is a responsible and reliable associate.”
He described Morocco as having positioned itself as a strategic gateway between Africa, Europe, noting: “Through free trade agreements, the national economy is linked to more than three billion consumers worldwide.”
Meanwhile, addressing Morocco’s most pressing challenges, King Mohammed VI announced the launch of “a number of other large-scale projects are also in progress in the fields of water and food security, as well as Morocco’s energy sovereignty.”
The monarch also called for “the adoption of a proactive and sustainable water resources management model, given the worsening water stress and climate change,” particularly as the North African country faces significant water challenges, following the “successive years of drought.”
Morocco has over the past years and months implemented innovative water strategies, including desalination plants powered by renewable energy and sustainable agricultural practices.
The country’s OCP has also launched major projects to address the pressing issue of water scarcity, including its recently launched 203-kilometer K2J water pipeline, which will be transporting desalinated water from the Atlantic coast to the heart of Morocco’s phosphate mining region.
As part of his vision for territorial development, the King spoke of the need to embrace proactive water resource management to effectively tackle worsening water stress and climate change.
The monarch’s speech featured Morocco’s transformation from a traditional economy to an emerging market integrated into global value chains, while acknowledging the work that remains to ensure this prosperity reaches all regions and citizens.
