Chinese Investors Interested in Business Opportunities in Sahara
Chinese investors showed interests in the huge business opportunities offered in Morocco’s Sahara provinces and particularly in the region of Laayoune-Sakia El Hamra.
It seems that the Chinese are looking for their share of the pie as several foreign investors are already operating in the Moroccan Sahara region, which is emerging as a gateway for business to Africa.
During the Moroccan-Chinese investment forum held last week in the city of Laayoune, local Moroccan officials and businessmen made detailed presentations on the various projects planned in the region including the Tiznit-Laayoune motorway project to cost nearly $1 billion.
The Chinese delegation was also briefed on the investment opportunities in the sectors of renewable energy, ports, fisheries, sea products, chemical industry, tourism, mining, chemical industry, agriculture…
The ambitious projects (including a university hospital, industrial zone…) planned in the Laayoune-Sakia El Hamra region within the frame of a global development program can contribute to enhancing economic and trade exchanges between the two countries.
These projects combined with others scheduled in neighboring Saharan provinces can also be part of the Chinese “Belt & Road Initiative”, a multibillion plan seeking to connect Asia, Africa and Europe.
Head of the Chinese delegation, Zhao Chong Sheng praised Morocco’s political stability, economic growth, modern infrastructures, favorable business climate and progress made in aeronautics, automotive industry, and renewable energies.
“China has the financial resources and the technology, and Morocco is a stable country that offers all the necessary support to investors”, he said.