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Wednesday 13 January 2021

Morocco: Future Regional Hub for US Investments -Swiss Specialized Media

Morocco: Future Regional Hub for US Investments -Swiss Specialized Media

The recent cooperation agreements signed between Morocco and the United States in the wake of the visit, last December, of a high-level U.S.-Israeli delegation to the Kingdom will turn Morocco into a regional hub for American investments, according to finance website Investir.ch.

"It is a visit symbolizing a new major diplomatic step for the Kingdom, but not only. It has substantial economic dimensions for North Africa as a whole," wrote the Swiss website.

The visit "opens the way for Morocco to take its development and attractiveness to the next level," it said.

On this occasion, "a US commitment to investing nearly US$3 billion over four years in private projects was signed between CEO of the US International Development Finance Corporation (DFC), Executive Chairman of Prosper Africa, Adam Boehler, and Morocco's Finance Minister, Mohamed Benchaaboun," Investir.ch underlined.

"Under the terms of this agreement, the US financial arm must establish Morocco as its "Hub" for North Africa."

The Moroccan Sahara is now "open for US business," noted the Swiss electronic site specialized in finance, echoing the US decision to recognize Morocco's sovereignty over its Southern Provinces.

For Investir.ch, Morocco has many assets as a regional investment hub, especially towards Africa. "The Kingdom enjoys institutional and macroeconomic stability in a North Africa that has experienced a turbulent decade. The country is gradually establishing itself as a major industrial platform, producing no less than 700,000 vehicles per year and hosting the US giant Boeing," according to the same source.

Morocco "has deployed a substantial "green" strategy, housing the largest solar station in Africa in the south of the country and pursuing a strategy of the energy mix that must drastically reduce its carbon emissions by 2025," it added.

"The country has an excellent infrastructure and operates in recent years the first high-speed rail line between Tangier and Casablanca," Investir.ch concluded.

MAP 13 January 2021