DUBAI, United Arab Emirates--(BUSINESS WIRE)--On the sidelines of the activities of Expo 2020 Dubai, Morocco officially unveiled its latest investment and export brand: ‘Morocco Now’, an initiative designed to position Morocco as a world-class industrial and export platform to accelerate foreign investments.
Over the past 20 years, under His Majesty King Mohammed VI, Morocco has made great strides in trade and transport infrastructure development and has undertaken an epic approach to achieve industrial acceleration. It now boasts the booming Tanger Med port, the largest global logistics hub in Africa and the Mediterranean. Moreover, the automotive cluster in Morocco has been performing strongly. With the fastest exports growth in the world, it has made the Kingdom the leading car manufacturer in Africa, increasing by more than € 15 billion between 2010 and 2019.
Morocco Now is slated to become a future-proof industrial platform aimed at capturing opportunities in a changing world, where recent global changes generated new requirements, such as environmental emergency, consumer expectation pressures and new regulations, require economic players to adopt decarbonized production. The COVID-19 pandemic also triggered a global value chains reorganization towards more regional integration and less global dependency.
Morocco Now relies on 4 distinctive assets: NOW SUSTAINABLE, renewable energies represented 37% of the energy mix in 2020, the objective is now to attain 52% by 2030; NOW COMPETITIVE, thanks to a “Best Cost” offer based on competitive production and export costs, with privileged access to an international market of +1 billion consumers; NOW Well-Proven, through a strong track record in implementing foreign investments in highly strategic and technical sectors; NOW agile, the capacity to quickly adapt is part of Morocco’s DNA, as recently illustrated in the management of the COVID-19 crisis, with the reallocation of industrial production towards health equipment.
Launching a “new development model”, Morocco has drawn up a clear roadmap for future development, which consolidates its economic progress, to ensure the necessary synergies based on a pragmatic approach, which paves the way for competitive, proactive, and sustainable investment.
The original source-language text of this announcement is the official, authoritative version. Translations are provided as an accommodation only, and should be cross-referenced with the source-language text, which is the only version of the text intended to have legal effect.
*Source: AETOSWire
