Tuesday 5 December 2023

MoUs Signed during HM the King's Working, Fraternal Visit to UAE (Inset)

MoUs Signed during HM the King's Working, Fraternal Visit to UAE (Inset)

Here follow the memoranda of understanding signed on Monday in Abu Dhabi, on the occasion of the working and fraternal visit of His Majesty King Mohammed VI to the United Arab Emirates.

- MoU on Investment Cooperation in Relation to High-Speed Train Projects in the Kingdom of Morocco. Following the success of the first high-speed line in Africa connecting Tangier to Casablanca, Morocco aims to extend this line to Marrakech by 2029. To achieve this, both parties are working to develop innovative financing solutions based on partnership between their respective government entities and the public and private sectors.

- MoU on Investment Cooperation in the Water Sector, whereby both parties create investment opportunities and develop financing mechanisms for the construction of dams, seawater desalination stations, and interconnection of hydraulic basins.

- MoU on Investment Cooperation in Developmental Projects; an economic and investment partnership framework between the two countries to promote several projects, including the reconstruction of areas impacted by the Al Haouz earthquake. This includes the installation of medical, social, educational, and university teaching structures, as well as the development of infrastructure.

- MoU on Investment Cooperation in the Energy Sector to facilitate cooperation with and between relevant government agencies and local or regional authorities, as well as public and private sector entities operating in the energy sector. Areas of cooperation include the development of energy production facilities from natural gas, the development of hydroelectric dams, and the development and strengthening of the national electricity transmission network from the South to the North of the Kingdom.

- MoU on Investment Cooperation and Partnership in the Agriculture and Fisheries Sectors; to create a framework for economic and investment cooperation in these sectors in Morocco. It aims to deepen economic partnership through projects that facilitate investment and explore opportunities for the implementation of joint projects in agriculture and fisheries resources.

- MoU on Investment Cooperation in the Airports Sector; to finance airport projects in the Kingdom and promote the exchange of skills and expertise.

- MoU on Investment Cooperation in the Ports Sector; to encourage investment opportunities and other innovative mechanisms for financing projects in the ports sector in Morocco, particularly the Dakhla Atlantique and Nador West Med port complexes.

- MoU on Investment Cooperation in Relation to Nigeria-Morocco Gas Pipeline Project, whereby the UAE, both financially and technically, contributes to the realization of the Morocco-Nigeria gas pipeline project.

- MoU on mutual cooperation in the financial and capital markets sector; to establish an expanded partnership between public and private sector entities with the aim of strengthening and revitalizing financial markets and capital in both countries.

- MoU on Investment Cooperation in the Tourism and Real Estate Sector, establishing an economic and investment partnership in these sectors in Morocco and facilitating the sharing of technical knowledge, advice, skills, and expertise between the two parties. This partnership includes, for example, the Marchica Med project.

- MoU on Investment Cooperation in Data Centre Projects. The preliminary phase involves 100 megawatts with the prospect of reaching a total capacity of nearly 500 megawatts in the future. This memorandum also covers the exploration of incentive measures to further promote investment in this field.

MAP: 04 December 2023