First Independent Mena Newspaper
FDIs attracted by Morocco rose by 15.4% in 2017 to stand at 24.4 billion dirhams ($2.4 billion) compared to 21.2 billion in 2016, Morocco’s foreign exchange regulator, Office des Changes said. In a recent report, the office noted that remittances by Moroccans living abroad increased 4.5% to hit 65.4 billion dirhams in 2017. The Office […]
The German group Prettl specializing in the manufacture of auto parts announced earlier this week the construction of a new industrial site in the ”Automotive City” in Tangier, for an €8 million investment. According to data presented during the groundbreaking ceremony for the new plant, the unit will have an overall production capacity of up […]
Morocco was listed among the top three most promising markets for the automotive industry, said Spanish insurance company “Crédito y Caucion” in a recent study. Morocco was ranked along with the Czech Republic and Vietnam as most performing emerging automotive industry markets, offering attracting investment opportunities to carmakers in 2018. “Morocco succeeded in few years […]
The Arab region needs now more than ever an inclusive growth, which is a shared responsibility between governments, the private sector and society at large, including its youth and its women, said Tuesday in Marrakech Chief of the International Monetary Fund, Christine Lagarde. Addressing regional conference, “Opportunity for All: Promoting Growth, Jobs, and Inclusiveness in […]
Currency liberalization is the centerpiece of Morocco’s efforts to transform itself into North Africa’s main financial hub. The gradual Dirham float, which was announced early in January, will help Morocco attract more investments, IMF officials say. Morocco’s Central Bank launched a cautious and smooth liberalization of the Dirham starting with an anchor of 2.5% instead […]
The Abu Dhabi-based Mubadala Aerospace is considering opening a new manufacturing plant in Morocco to be closer to its customer Airbus, said the company’s chief Badr Al Olama. The North African Kingdom enjoys “a proximity to Europe. Being closer to the customers will be important for Strata”, a unit of Mubadala Aerospace, he added in […]
The Souss-Massa region, which attracted more than 18 billion dirham-investments in 2017, is poised to become a platform of exports towards Africa. This new vocation of the region was stressed at a ceremony held Sunday in Agadir under the chairmanship of King Mohammed VI and during which the Souss-Massa Regional 2014-2020 Industrial Acceleration Plan was […]
Moroccan economy grew by 4.6% in 2017 compared to 1.2% in 2016 on the backdrop of an improvement of the indicators of the agricultural sector. Abundant rainfall boosted the agricultural value added to 15.4% in the first three quarters of 2017 compared to -12.5% the same period in 2016, Economy and Finance Minister Mohamed Boussaid […]
Morocco, which has an arable land of 8 million hectares and great agro-climatic wealth, generates a diversified agricultural production, says the Euro Med Invest Business Guide. The share of agriculture in the GDP varies from 10 to 15 pc from one year to another – to which adds about 4 pc for agro-industry, says the […]
The Pestana CR7 venture, owned by Real Madrid’s star Cristiano Ronaldo and Portugal’s top hotel chain, Pestana, announced the opening of a new hotel in Marrakesh next year. The hotel would be the fifth under the Pestana CR7 chain, Moroccan media said, adding that the Marrakech hotel is part of the brand’s plan to double […]