Morocco, Spain Sign MoUs For Four Catalan Projects of 500 Million MAD Investment
Concluded during a meeting between Morocco's Minister Delegate for Investment, Convergence, and Policy Evaluation, Karim Zidane, and a large delegation of Catalan companies led by Josep Sánchez Llibre, President of Foment del Treball—the main employers' confederation of Catalonia—these agreements pertain to projects expected to create over 700 direct jobs in the cities of Tangier, Tetouan, and Kenitra.
These projects span various sectors, including the automotive industry, waste recovery, packaging, and construction materials, reflecting Morocco's ability to turn exchanges into concrete, job-creating initiatives for its youth.
As part of efforts to strengthen Moroccan-Spanish economic relations, the meeting provided an opportunity for Zidane to highlight Morocco's exceptional investment appeal and to emphasize the Kingdom's ambition, under the enlightened leadership of His Majesty King Mohammed VI, to become a competitive and sustainable regional hub.
The commitment of the Catalan companies, he noted, confirms the relevance of this trajectory, adding that the four projects reflect the willingness of these companies to contribute to Morocco's industrial development.
According to him, these investments are the result of an increasingly attractive business climate, made possible by reforms undertaken by Morocco (including simplification of procedures, digitalization, and the strengthening of regional investment centers).
For his part, Foment del Treball President Josep Sánchez Llibre expressed his satisfaction with the warm welcome extended to the Catalan business delegation, which came to explore investment opportunities in such a strategically important country as the Kingdom of Morocco.
He highlighted the determination of these companies to strengthen their presence in Morocco, noting that these investment projects mark the beginning of a lasting and structured commitment to mutually beneficial economic development.
"Catalan investments will continue to flow into Morocco. I can already announce that within a year, we will return with a new delegation of around twenty Catalan companies to explore further investment opportunities," he said.
Furthermore, the Spanish Ambassador to Rabat, Enrique Ojeda Vila, welcomed the mission of the delegation, which contributes to consolidating the strategic partnership between the two countries.
In addition to their geographical proximity, Spain and Morocco are each other's main economic and trade partners, Ojeda Vila noted.
MAP:29 mai 2025
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Morocco World
39 minutes ago
- Morocco World
Morocco's Dirham Strengthens Against Dollar, Slips Slightly Versus Euro in July
Rabat — The Moroccan dirham recorded contrasting trends between June and July 2025, according to the latest monthly review of economic, monetary, and financial developments by Bank Al-Maghrib (BAM). During this period, the dirham strengthened by 1.3% against the US dollar but slipped 0.2% in value against the euro. These shifts came as the euro itself rose by 1.5% against the dollar. BAM noted that the central bank has not held any foreign currency auctions since December 2021. Activity on the interbank market fell sharply, with transactions of foreign currency against dirhams totaling MAD 23.1 billion ($2.31 billion) in July, a drop of 48.2% compared with the same month last year. Interactions between banks and their clients showed a different pattern. Spot purchases climbed to MAD 41.4 billion ($4.14 billion), up from MAD 37.7 billion ($3.77 billion) the previous year, while forward purchases reached MAD 23.3 billion ($2.33 billion), higher than MAD 17.9 billion ($1.79 billion) in July 2024. On the sales side, spot operations totaled MAD 41.2 billion ($4.12 billion), above last year's MAD 36.9 billion ($3.69 billion). Forward sales also edged up slightly, from MAD 1.9 billion ($190 million) to MAD 2.2 billion ($220 million) year-on-year. The figures suggest a cautious but steady adjustment in Morocco's foreign exchange market, reflecting domestic dynamics and the shifting influence of major international currencies.
Morocco World
3 hours ago
- Morocco World
Morocco Climbs to Fourth Place in MENA Startup Funding Rankings
Rabat — Morocco quietly but firmly established itself as a rising tech hub in the Middle East and North Africa startup scene in July 2025. The North African country jumped to fourth place in regional entrepreneurial funding, surpassing Egypt and proving its potential as an emerging technology center. Morocco's strategic advance came through a $7.5 million funding round raised by Ora Technologies. While modest in absolute terms, this deal pushed Morocco into the MENA top five rankings compiled by the Wamda platform and Digital Digest magazine The country now sits ahead of Egypt, which dropped in rankings due to macroeconomic tensions and currency instability. This performance shows Morocco's growing appeal to regional and international investors, particularly in high-potential technology sectors. The funding round signals a shift in perception: Morocco no longer sits on the periphery but actively attracts significant investment in innovative fields. Record month for MENA Startups July 2025 proved exceptional for startup funding across the MENA region. Fifty-seven startups raised a combined $783 million, marking a 1,411% increase from the previous month and more than double the amount recorded in July 2024. Two mega-deals drove this surge: e-commerce company Ninja and deeptech firm XPANCEO together accounted for 56% of the monthly total. In the ranking, Saudi Arabia maintained its regional leadership position with $396.5 million raised across 16 deals. The UAE followed with $359 million spread among 22 startups. Iraq surprised observers by claiming third place through a single $15 million deal for InstaBank. Morocco secured fourth position, while Egypt fell to fifth place with only $4 million raised across seven startups. Seven months into 2025, MENA startup funding has already exceeded the entire 2024 total. This momentum confirms the regional ecosystem's maturation and shows investment diversification beyond traditional hubs. The emergence of markets like Iraq and Morocco in the rankings reflects investors' evolving priorities as they balance immediate scalability with long-term potential. Morocco's top-five positioning demonstrates its ability to integrate into this dynamic ecosystem — one that is rapidly expanding, making its way to the top 10 African startup ecosystems according to the Global Startup Ecosystem Index 2025. Tags: Moroccan startupsMoroccoStartups ecosystemStartups in Morocco
Morocco World
4 hours ago
- Morocco World
Morocco Pitches Ambitious Gazoduc Pipeline Project to Key US Investors at US-Energy Forum
Rabat — Morocco joined fellow African countries in Houston, Texas, to hold key conversations around strategic investment opportunities throughout the continent for American stakeholders at the US-Africa Energy Forum held on August 6-7. Their central pitch? The ambitious Gazoduc Pipeline project, a $25 billion infrastructure initiative to connect Nigeria's gas supply to Moroccan and European markets. Morocco's presentation on this crucial international stage marks a significant step toward securing foreign backing at a key time when US investors are actively seeking to boost energy projects across Africa. Nawfal Drari, Director of Project Finance at Morocco's National Office of Hydrocarbons and Mines (ONHYM), which heads the project, delivered talking points covering the initiative's progress and investment opportunities, adding that the pipeline has reached a strategic phase. Launched in 2017 under the guidance of Morocco's King Mohammed VI and Nigerian President Muhammadu Buhari, the project now moves closer to its Final Investment Decision — and a show of support from US investors could catapult that progress into an accelerated reality. Houston: A strategic location The US-Africa Energy Forum's location in Houston was not coincidental. Commonly known as the 'Energy Capital of the World,' the Texas city is home to over 4,600 energy-related companies, making it a prime location for deep-pocketed investors willing to hold a stake in key international projects in the sector. One key player is the US International Development Finance Corporation (DFC), which has announced that it is evaluating oil and gas infrastructure investment opportunities across Africa. This signals a shift of broader US backing for more traditional energy assets across Africa away from solely its renewables focus. DFC Director Selam Demissie spoke at the Texas forum, saying that the agency is 'actively looking' at both upstream and downstream oil and gas infrastructure projects. Against this backdrop, the forum provided ONHYM a prime platform for Morocco to pitch Gazoduc to US investors as a key investment opportunity in Africa's evolving energy landscape. The Moroccan national office said that 'this strategic project will enable African countries to access a sustainable and affordable source of energy, while also serving as a tool for economic and social integration.' Gazoduc to set Morocco up as a prime energy transit hub For Morocco, the pipeline represents more than just energy infrastructure. The government views it as a catalyst for economic transformation that will create thousands of jobs and establish the North African country as a primary energy transit hub connecting Europe, Africa, and the Atlantic basin. The massive pipeline will stretch approximately 6,000 kilometers across multiple African countries, connecting Nigeria's natural gas reserves to Morocco and eventually to European markets. Engineers designed the system to carry between 15 and 30 billion cubic meters of natural gas annually. The project promises to transform energy access across the continent. Officials estimate the pipeline will serve about 400 million people in 13 countries, dramatically expanding reliable energy access throughout West and North Africa. The ambitious project has already overcome several challenging hurdles, with engineers completing detailed design studies in 2024, and teams finishing environmental and social impact assessments for the northern section. Developers plan to build it in phases, with a holding company overseeing financing and construction. Three separate project companies will handle different segments of the route. In December 2024, West African leaders approved the Intergovernmental Agreement at the 66th CEDEAO Summit, outlining each country's rights and responsibilities for the project. Industry experts describe the Nigeria-Morocco Gas Pipeline as a major driver for economic, industrial, and digital development across the region. They assert that the project aligns with growing US interest in African energy partnerships and infrastructure development, an argument that aims to gain traction following the US-Energy Forum. Tags: Gazoduc ProjectMorocco-Nigeria pipelinenatural gasONYHM
