Chinese Firms Showcase in Beijing their Investment Projects in Morocco

Several Chinese businessmen have discussed in Beijing with Head of Moroccan Government Saadeddine El Othmani their investment projects set for the North African country and reviewed ways to facilitate their implementation to help create jobs within the frame of a “win-win partnership”.

The Chinese entrepreneurs met El Othmani on Monday on the sidelines of the 3rd China-Africa summit (3-4 Sept.) hosted by president Xi Jinping.

They hailed Morocco’s political stability, the incentives offered to investors and the quality of skilled manpower, voicing readiness to increase their investment in the Kingdom, contribute to its major development projects and enhance partnership with Moroccan economic operators in Africa.

For his part, El Othmani expressed his government’s commitment to “improving the business climate for Moroccan as well as foreign investors to attract more investment for the African continent in line with Morocco’s African policy”.

“We are ready to facilitate and improve the business climate, for the benefit of Moroccan as well as foreign investors,” he said, noting that Chinese firms are interested in investing in the sectors of telecommunication, energy and infrastructure.

During the Africa-China summit, President Xi Jinping pledged $60 billion package of assistance, investment and concessional loans to Africa.

Since 2000, Africa has borrowed about $130 billion from China to finance infrastructure projects. China has now become Africa’s largest trading partner, outperforming France, India and the United States.

Chinese companies and exporters are finding very fertile soil in Africa and are expected to invest $10 billion in the continent in the next three years.