Sahara: Spanish firms interested in investment opportunities in Dakhla-Oued Eddahab Region
Spanish investors have shown great interest in the untapped business opportunities offered in Morocco’s Dakhla-Oued Eddahab region, a gateway to African market, as Madrid and Rabat are strengthening their economic cooperation and strategic partnership.
“Morocco is a regional economic power with a modern and diversified economy and its strategic geographical location enables it to access a huge market,” said vice-Pdt. of Madrid Chamber of Commerce, Augusto de Castaneda during an economic forum held Tuesday in Madrid by the Chamber in partnership with Moroccan embassy in Spain.
“Morocco has become a logistics and financial hub for the sub-Saharan market,” added Mr. Augusto de Castaneda, recalling that trade between Morocco and Spain hit a record Є12 billion in 2023.
For his part, President of the Council of Dakhla-Oued Eddahab region, Yanja El Khattat, called on Spanish businessmen and companies to avail the investment opportunities offered by the region, which has become a commercial and logistics hub for Africa.
The Saharan region, which has important infrastructures, offers huge investment opportunities in the sectors of fisheries, tourism, trade, agriculture, and renewable energies, he said.
The Dakhla Atlantic Port project, which is called to emulate in the Atlantic the relevance of Tangier Med in the Mediterranean, will give a strong impetus to foreign investment, added Yanja El Khattat, affirming that the international initiative launched by King Mohammed VI to enable Sahel countries have access to the Atlantic Ocean will open-up new opportunities and strengthen further trading with African countries.
“Together, we can work for a more prosperous future,” he said, voicing his determination to deepen economic ties with Spanish regions in order to build a better future with shared prosperity.
About a hundred Spanish investors and representatives of major companies such as Iberdrola, Renfe, Alstom, Vectalia and Repsol, took part in this forum held in the presence of a dozen ambassadors from African and Arab countries.
