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Moroccan economy is characterized by a great openness to the outside world. Since the early 1980s, Morocco has adopted an economic and financial openness policy aiming at improving the liberalization of foreign trade, the largest integration of Moroccan economy into the international economy, and at strengthening of contribution to the consolidation of a multilateral trading system.
In this regard, significant advances in the modernization of economic and financial structures and upgrading of the legal and institutional frameworks have been accomplished. The aim is to permanently accelerate economic growth in Morocco and to improve the living conditions of its citizens.
Thanks to, Morocco’s strategic location, improvement of investment environment, the expansion and the diversification of economic and trade relations, mega-development plans, and projects. Then, regular contributions to consolidate the multilateral trading system, global standards, and diversity of the infrastructure. Nowadays, according to many economic indices and studies, Morocco is a rewarding investing choice, a secured place for profitable investments, leading and highly recommended destination for doing business in Africa.
The Morocco infrastructure review will show you that the government prioritizes the development of the infrastructure in Morocco based on the latest trends. It includes the establishments of the ports, airports, motorways, and train networks. During the era of 2010 to 2015, the government of Moroccan decided to spend more than $15 billion just for the purpose of establishing the infrastructure in Morocco to accommodate rising domestic demand.
The country’s strategic location, a famous tourist destination, and Morocco’s transportation infrastructure make the place a competitive location for a lot of people who want to invest in Morocco. Experts, due to the better transport in Morocco, have predicted an optimistic future for Morocco. It is citing improving value in possessing homes and properties in the nation. It is because of the industry innovation and infrastructure in Morocco and infrastructure projects are fruitful to enhance the investment opportunities.
The Importance of Investing in Morocco:
investing in Morocco, Tanger Med.
These days, Morocco is among the most well-known vacation destinations in North Africa. With its exotic appeal and liveliness, the destination is a tourist attraction that welcomes several visitors and sightseers coming from all over the world. The city likewise features new improvements that take in European panache.
Many Europeans are snatching up the properties in Morocco. Direct flights are now available from many European cities into Morocco, which makes Morocco a perfect summer or winter destination.
In the past few years, the prices of houses have doubled in Morocco, and it seems like the trend is continuing. Each day houses are being bought and sold, and the prices just keep going up. The government develops many Morocco transportation infrastructure projects as well.
Stable Growth:
Morocco has become one of the largest economies in the whole continent of Africa. GDP average growth rate in the last two decades is 4.5% despite the COVID-19 pandemic side effects and global economic crisis.
The country’s economy has been aided by strong domestic demand and foreign investments in ports and logistics. In 2017, the growth rate was 4.25 % because of the industry innovation and huge growth in infrastructure sector in the Kingdom of Morocco.
Investors who are looking to, Doing business in Morocco are also increasingly interested in property in Fez, the country’s third-largest city, where prices remain low compared to property in Marrakesh, for instance.
Infrastructure:
The government has established the best infrastructure in Morocco that meets the global norms. Morocco has made significant infrastructure investments over the last two decades. Investments in the infrastructure of Morocco have aided economic development. Morocco’s economy grew at an average annual pace of 4.3 % from 1985 to 2015, with Moroccan investments in the infrastructure sector adding around one percentage point to per capita GDP growth. Morocco outperforms Tunisia and Algeria in terms of infrastructure growth payoffs when compared to other Maghreb countries.
The country has a history of involving the business sector and leveraging commercial money for infrastructure projects of Morocco.
Morocco has achieved significant progress in terms of infrastructure development. Infrastructure demand is increasing across all categories, putting strain on existing assets.
Morocco has made significant progress in terms of infrastructure. From the last 20 years, the country has made significant investments in all economic infrastructure sectors, including transportation, ICT, and electricity, allowing a large portion of the population to benefit from basic services. Morocco has spent a significant amount of money on infrastructure in recent years.
The investments in the infrastructure of Morocco have improved the quality and accessibility of services because of many successful infrastructure projects of Morocco. Morocco has increased the quality of Moroccan investments in the infrastructure sector, increasing from 64th place in 2007 to 42nd place in 2017. In terms of infrastructural quality, it is still in the top 50 countries due to the establishment of infrastructure projects in Morocco.
Main Facts About Morocco’s Infrastructure:
Roads, railroads, highways, ports, and airports of Morocco are the main factors of this phenomenal growth. Moroccan infrastructure review will disclose to you that the government planned many mega projects, infrastructural projects precisely. Some facts about Morocco’s infrastructure for Doing business in Morocco are shown below.
Motorways/ Highways: This country has proved to be one of the most well-developed road networks on the continent of Africa because of the Moroccan investments in the infrastructure sector. Over the last two decades, the government has constructed over 1100 miles of modern roadways to meet the infrastructure in Morocco’s needs.
Railway Network: Moroccan railways span 800 kilometers. And contains 120 stations that serve both passengers and freight. The high-speed rail line, which is known as the 225-mile Tanger-Casablanca, became operational in 2019. It is one of the top Morocco infrastructure projects. A total of 140-mile extension for the rail line is planned to Marrakesh as well. Moroccan railways are based on modern standards.
Tourism Infrastructure: Morocco’s government has set a goal of doubling the country’s tourism industry by enhancing the infrastructure of Morocco. It enhances many fields such as the tourists, foreign exchange profits, and hotel capacity.
Airports: There are eight airports in Morocco that are widely used. However, the total number of main airports in Morocco is 33.
Due to the successful infrastructure projects of Morocco, the country obtained a solid base for everyone to live and invest here. Moroccan investments in the infrastructure sector made this country an attractive place for global investments, from Europe, Asia, and America.
Support from the Government:
Morocco’s government encourages or guides economic activities in key sectors such as aviation, automobiles, outsourcing, and tourism. In addition, incentives include partial or totally exempt from VAT, income tax, and import taxes for certain sectors (mines, industrial sectors, travel, real estate, handicrafts, and seafaring). Business people who invest in one of Morocco’s Free Trade Zones can also benefit from incentives (FTZs) and the best transportation in Morocco. The government also supports the enhancement of Roads, railroads, highways, ports, airports of Morocco. The transport in Morocco is easy and up to the mark. Thus, investing in Morocco is the right decision.
Global Hub:
Morocco serves Europe, Africa, the Middle East, and other countries as a Regional Hub for trade, warehousing, redistribution, manufacturing, sales, and a variety of IT services. It is well located to transport cargo between the Americas, Africa, and the Mediterranean because of the Morocco transportation infrastructure. Much of the Morocco infrastructure projects are provided by Tangier’s huge harbor, Tanger Med. In addition, the foreign investments in infrastructure made this country a global hub.
Exclusive ROI:
Many investment portfolios have fallen during these times of global financial crisis. Land and other investment modes like foreign investments in infrastructure are some of the few investments like transportation in Morocco that appear to provide both financial security and a high rate of return on investment. It’s a safe bet that hasn’t been harmed by the financial crisis, especially if it’s not overvalued. Therefore, you have to invest in Morocco now.
Morocco has a long history of attracting FDI. According to the World Bank, it is one of the largest recipients of foreign investments in ports and logistics among the countries in North and Western Africa.
Best Business Environment :
Morocco has the second-largest domestic market in the Maghreb, with millions of people. It also possesses North Africa’s best road, rail, and port networks. Thanks to, Morocco infrastructure projects feature a simplified tax structure. it includes incentives for international firms, as well as a simplified customs schedule.
You will find the best environment to invest in Morocco, thanks to the Free Trade Agreement and Morocco mega projects.
Foreign direct investment in Morocco is increasing yearly, from 2006 till today, reported by the World Bank. it’s high time for investing in Morocco, it’s The Best Investing Destination in Africa.
References:
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- https://bit.ly/2SEQ6cm
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