Morocco today (October 11) officially unveiled its investment and export brand, Morocco Now, on the sidelines of the Kingdom’s participation in Expo 2020 Dubai.
This initiative aims at promoting Morocco as a world class industrial and export platform to accelerate foreign investment, a statement said.
According to the statement, Morocco’s King Mohammed VI has built first-class trade and transport infrastructures and has definitively embarked on the path of industrial emergence over the past 20 years, namely: Tanger Med, No 1 sea connection in Africa and the Mediterranean and #20 in the world.
Additionally, the country’s automotive cluster, the fastest growing in the world, strongly contributes to the Moroccan industrial exports growth, increasing by more than $16 billion between 2010 and 2019.
In the background, the global economy is facing rapid changes requiring economic stakeholders to adapt: Environmental emergency, consumer pressure and new regulations make it essential to adopt decarbonised production; and Covid crisis has led to a global value chains reorganization towards less global dependence and more regional integration.
“In this context, Morocco Now is the future-proof industrial platform to capture the opportunities of a changing world. It builds on a successful track record of economic transformation making Morocco a reliable destination and a high investment and export potential,” the statement said.
Morocco Now offers four distinctive assets:
NOW Sustainable, reaching 37% of the energy mix with renewable energies in 2020 and targeting 52% by 2030, with an installed capacity of 4GW in 2021 made possible by visionary investments since 2009.
NOW Competitive, offering “Best Cost” option – based on competitive production and export costs -, building on a privileged access to more than 1 billion consumers thanks to 54 free trade agreements and being the gate to Africa’s rapid growth potential.
NOW Well-Proven, showing successful track record of implementing foreign investment in highly strategic and technical sectors and of delivering mega infrastructure projects, while investing in Moroccan youth competencies.
NOW Agile, with a remarkable capacity to adapt part of Morocco’s DNA, as demonstrated while quickly reallocating industrial tools to health equipment during Covid crisis, and implementing best in class vaccination roll-out paving the way for a rapid economic recovery.
“In a context of global value chains reorganization, we are delighted to introduce our new investment and export brand to the world, which reflects the dynamism and economic competitiveness of Morocco,” it added.
The Moroccan delegation in charge of unveiling this new identity confirms the commitment of all public and private stakeholders for the success of our national investment and export brand.
Releasing recently the “new development model”, the Kingdom of Morocco has drawn up a clear roadmap for its development in the years to come. This new strategy is supported by the progress of Morocco as a future-proof industrial platform.
The appointment of a new pro-business government strengthens these economic and industrial dynamics, and ensures the necessary synergies and a pragmatic approach to pave the way for competitive, proactive and sustainable investment, the statement added.