Morocco is a stunningly beautiful, relatively well-organised country and uniquely situated. Sitting on the edge of the Mediterranean and connecting Europe, the Middle East and Africa, it generates significant income from agriculture, tourism and the automotive industry, and has the fifth-largest economy on its continent.
Despite these advantages, it has not historically had access to the cheap sources of energy that many other MENA countries have been able to take for granted. But all that is about to change and will be of interest to businesses thinking of investing in Morocco.
By 2030, the government has pledged to raise Morocco`s target share of renewable energy to 52%. Cleaner, greener energy is in everybody`s interests and the more renewable energy projects are created, the better the technology gets and the cheaper the electricity becomes.
Let the sunshine in!
Benefitting from up to 3,600 hours of sunshine a year, Morocco is currently building the world's largest solar power plant. This will mean benefits to all business ventures, including its automotive industry in the shape of electric cars.Doing business in Morocco
The Moroccan government has ambitious plans to make the country a major MENA player and is putting infrastructure in place to facilitate those plans. There are already daily flights from Casablanca to 30 African cities and a high-speed rail between Morocco`s largest city and Tangier is under construction. The country already has trade agreements with the European Union, US, Turkey and the Arab nations.Investing in Morocco
Investment opportunities in the country are growing. In 2016, Boeing agreed on a memorandum of understanding with the Moroccan government to develop an industrial ecosystem in the country, and this development fits in perfectly with the government`s ambition to raise industry's share of GDP to 23% by 2020. These are exciting times for a country with an increasingly diverse economy.For more information on how we can help your business invest in Morocco, give us a call today on +357 25 346630 or email info@cedar-rose.com
