Latest news with #AMDIE
Yahoo
2 days ago
- Business
- Yahoo
‘In order to build the future of Europe, we need to focus on Africa', says AMDIE
Morocco had the fifth highest GDP in Africa in 2024, according to Statista. At the same time, S&P Global Ratings upgraded the country's credit rating to BB+ with a positive outlook, replacing the previously stable outlook. This gives the country the third highest rating on the continent, after Botswana and Mauritius, which are the only nations to achieve 'investment grade status'. According to S&P, the BB+ status denotes an expectation that 'the Kingdom will strengthen its track record of implementing reforms to support growth and reduce its deficits.' This aligns with the country's conscious efforts to attract foreign direct investment and establish itself as a gateway between Europe and Africa. In this episode of The Big Question, Euronews' business editor Angela Barnes is joined by Ali Seddiki, general director of the Moroccan Agency for Investment and Export Development (AMDIE), to discuss the country's future role in the global economy. As Europe grapples with competitiveness challenges and uncertainty over its future economic relationship with the US, it is crucial for the bloc to explore other strategic partnerships. 'When we discuss with our European counterparts, we understand that green and ESG-compatible industries are important for Europeans. They are also looking for additional cost-efficiency, competitiveness, and also for future markets,' Mr Sedikki told The Big Question. 'Africa is also the market of the future [...] and clearly we think that Morocco is part of the solution for the European companies.' Related Stability is the key to investment, says Moroccan Minister Zidane Morocco's Investment Charter, first introduced in 2022, seeks 'to raise the share of private investment to two-thirds of total investment by 2035.' The charter implemented investment support mechanisms, an improved business climate by simplifying processes and bureaucracy, improved governance so all regions can benefit, tax incentives and legal safeguards. 'It works on creating a suitable environment for investors, less bureaucracy, more efficiency,' Mr Sedikki explained. The country also created a Ministry for Investors and AMDIE 'to help investors and provide end-to-end services and we work as a one-stop shop for any kind of investor,' he added. Related The Big Question: What will it mean for Europe if Trump's tariffs resume? 'That would be a huge mistake', fashion alliance fears 'watering down' of environmental legislation Morocco has a growing green energy industry, with a particular focus on wind and solar. The Kingdom is aiming to source at least 52% of its electricity from renewables by 2030, positioning itself as a regional leader in the energy transition in Africa. 'What we want to make sure of is that this potential is used to positively impact the Moroccan economy,' Mr Seddiki noted. 'We have a great young population entering the job market, that's a huge opportunity, but also it's a challenge, we need to create jobs. So now the strategy is how can we leverage our natural, sustainable resources in order to create sustainable jobs for our young people entering the job market?' The Big Question is a series from Euronews Business where we sit down with industry leaders and experts to discuss some of the most important topics on today's agenda. Watch the video above to see the full discussion with the Moroccan Agency for Investment and Export Development. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Euronews
2 days ago
- Business
- Euronews
The Big Question: Why should Europe look to invest in Morocco?
Morocco had the fifth highest GDP in Africa in 2024, according to Statista. At the same time, S&P Global Ratings upgraded the country's credit rating to BB+ with a positive outlook, replacing the previously stable outlook. This gives the country the third highest rating on the continent, after Botswana and Mauritius, which are the only nations to achieve 'investment grade status'. According to S&P, the BB+ status denotes an expectation that 'the Kingdom will strengthen its track record of implementing reforms to support growth and reduce its deficits.' This aligns with the country's conscious efforts to attract foreign direct investment and establish itself as a gateway between Europe and Africa. In this episode of The Big Question, Euronews' business editor Angela Barnes is joined by Ali Seddiki, general director of the Moroccan Agency for Investment and Export Development (AMDIE), to discuss the country's future role in the global economy. As Europe grapples with competitiveness challenges and uncertainty over its future economic relationship with the US, it is crucial for the bloc to explore other strategic partnerships. 'When we discuss with our European counterparts, we understand that green and ESG-compatible industries are important for Europeans. They are also looking for additional cost-efficiency, competitiveness, and also for future markets,' Mr Sedikki told The Big Question. 'Africa is also the market of the future [...] and clearly we think that Morocco is part of the solution for the European companies.' Morocco's Investment Charter, first introduced in 2022, seeks 'to raise the share of private investment to two-thirds of total investment by 2035.' The charter implemented investment support mechanisms, an improved business climate by simplifying processes and bureaucracy, improved governance so all regions can benefit, tax incentives and legal safeguards. 'It works on creating a suitable environment for investors, less bureaucracy, more efficiency,' Mr Sedikki explained. The country also created a Ministry for Investors and AMDIE 'to help investors and provide end-to-end services and we work as a one-stop shop for any kind of investor,' he added. Morocco has a growing green energy industry, with a particular focus on wind and solar. The Kingdom is aiming to source at least 52% of its electricity from renewables by 2030, positioning itself as a regional leader in the energy transition in Africa. 'What we want to make sure of is that this potential is used to positively impact the Moroccan economy,' Mr Seddiki noted. 'We have a great young population entering the job market, that's a huge opportunity, but also it's a challenge, we need to create jobs. So now the strategy is how can we leverage our natural, sustainable resources in order to create sustainable jobs for our young people entering the job market?' The Big Questionis a series from Euronews Business where we sit down with industry leaders and experts to discuss some of the most important topics on today's agenda. Watch the video above to see the full discussion with the Moroccan Agency for Investment and Export Development. UK house prices edged up slightly to 3.5% on an annual basis in May, up from 3.4% in April, according to Nationwide's latest House Price Index report. This was ahead of analyst estimates of 2.9%, pointing to a still-resilient UK housing market, despite cost challenges following stamp duty threshold decreases at the start of April. On a month-on-month basis, UK house prices jumped 0.5% in May, bouncing back from a -0.6% fall in April. This was more than the 0.1% increase expected by the market as well. The average UK house price was £273,427 (€324,232.5) in May, up from £270,752 (€321,053.7) in April. Nationwide's chief economist, Robert Gardner, said in the May house price index report on the company's website: 'Official data confirmed that there was a significant jump in residential property transactions in March, with buyers bringing forward their purchases to avoid additional stamp duty costs. 'Owner occupier house purchase completions were around twice as high as usual and the highest since June 2021, which was also impacted by stamp duty changes.' He also noted that mortgage approval data suggests market activity has remained resilient following the end of the stamp duty holiday, with underlying UK housing market conditions staying robust despite broader global economic volatility Alice Haine, personal finance analyst at online investment platform Bestinvest by Evelyn Partners, said in an email note to Euronews: 'While some buyers are clearly pushing ahead with their purchase journey, others may now be mulling their options more carefully as higher costs pose a fresh challenge. Lower stamp duty thresholds have the biggest impact on first-time buyers as they must now save enough to cover a potentially sizable tax bill in addition to their deposit.' She noted that this may encourage lenders to offer 100% mortgages to help first-time buyers get started on the property ladder, especially as several loan providers have already relaxed their requirements in an effort to draw more clients. Falling interest rates as the Bank of England loosens monetary policy somewhat has also helped borrowing conditions, although sticky-high inflation may slow progress. Businesses passing on higher employment costs to consumers, mainly because of changing US tariff conditions, could impact the housing market as well. 'Uncertainty is becoming the new normal and for many first-time buyers or home movers looking to refinance their existing mortgage soon, it may be better to push ahead with a purchase rather than wait for the ideal borrowing conditions,' Haine noted. "Plus, the traditional surge in listings at this time of year is a positive buyers can take advantage of, as a wider stock of homes to choose from raises the potential for heavier negotiation on price,' she added. According to a recent special report by Nationwide, average house prices in mainly rural areas have continued to grow faster than more urban areas, rising 23% between December 2019 and December 2024. This is compared to an 18% increase in mainly urban areas. Nationwide's chief economist, Robert Gardner, highlighted: 'The pandemic had a significant impact on housing demand during 2021 and 2022, with a shift in preferences towards more rural areas, particularly amongst older age groups. Whilst these effects have now faded, less urban areas have continued to hold the edge in terms of house price growth.' The report also revealed that among house owners who have moved in the last five years, 63% moved within the same type of area, mainly between large towns or cities. 9% of homeowners moved to rural areas such as hamlets or villages from towns and cities, whereas 7% did the opposite. Perhaps unsurprisingly, younger movers between the ages of 25 and 34 preferred to move to more urban localities, whereas older people, especially above 55 moved to more rural places.
Morocco World
30-04-2025
- Business
- Morocco World
Morocco Spotlights Investment Opportunities at ‘Morocco Now' Conference in Madrid
Rabat – Morocco showcased its economic strengths and investment opportunities during the 'Morocco Now' conference held on Tuesday in Madrid. The event, held under the theme 'Investing Together for a Sustainable and Shared Future,' brought together major economic players from both Morocco and Spain. The conference aimed to promote Morocco as a reliable and attractive destination for foreign investments, especially for European partners. Drawing over 150 companies, it was organized by Morocco's Ministry of Investment, Convergence and Evaluation of Public Policies, in collaboration with the Moroccan Agency for Investment and Export Development (AMDIE). During the event, the Moroccan delegation recalled the country's recent economic reforms, high-potential industries, and concrete projects available for mutually beneficial partnerships. Spain's Secretary of State for Trade, Amparo López Senovilla, spoke of the strategic importance of the Morocco-Spain relationship. 'Our historical ties and strategic geographical locations bring both sides of the Mediterranean closer,' she said, MAP news agency reported. She also pointed to the 12th high-level meeting between Morocco and Spain, held in Rabat in February 2023, which laid out a roadmap for deeper cooperation in key sectors such as economy and sustainability. Morocco's Ambassador to Spain, Karima Benyaich, described Morocco as a promising platform for Spanish businesses. She commended the country's ambitious strategic vision, favorable business climate, and growing partnership with Spain. Meanwhile, Karim Zidane, Morocco's Minister Delegate in charge of Investment, urged Spanish companies to explore the many investment opportunities available in Morocco, especially in key sectors like aerospace, renewable energy, automotive, and electronics. He noted Morocco's world-class infrastructure, skilled young workforce, and strategic location as reasons for its growing attractiveness to foreign investors. Ali Seddiki, Director General of AMDIE, also spoke of Morocco's position as a leading hub for investment and exports in the region. He said the conference in Madrid aims to encourage more Spanish businesses to invest in Morocco. Moroccan and Spanish officials have continuously vowed to strengthen cooperation in many sectors and encourage investment in both countries, especially after Madrid officially endorsed Morocco's sovereignty over the Western Sahara.
Ya Biladi
24-04-2025
- Automotive
- Ya Biladi
Morocco showcases automotive industry at 17th Motortec Madrid
Morocco is taking part in the 17th edition of Motortec Madrid, a major European automotive trade show, held from April 23 to 26. The Moroccan Investment and Export Development Agency (AMDIE), in collaboration with the Moroccan Association for Automotive Industry and Construction (AMICA), is organizing the country's participation, announces a press release by AMDIE on Thursday. The event offers Moroccan companies the opportunity to showcase their products, explore new markets, and strengthen ties with Spain—one of Morocco's key trading partners. AMDIE is supporting eight Moroccan companies at the event: six first-time exporters and two established international firms. These companies have been backed since 2022 through AMDIE's Call for Expression of Interest program for strategic industrial sectors. Morocco has become a manufacturing hub for global automotive companies, offering competitive advantages such as a well-integrated industrial ecosystem and modern logistics infrastructure. The country continues to attract investors from Europe, Asia, and the Americas. Morocco's presence at Motortec aligns with broader national goals to boost competitiveness, deepen local manufacturing integration, and expand exports of high-value automotive products.
Morocco World
12-04-2025
- Business
- Morocco World
AMDIE Leads Economic Dialogue on Morocco-UAE Collaboration
Rabat – The Moroccan Agency for Investment, Development, and Export (AMDIE) has organized an event focusing on the strategic partnership between Morocco and the United Arab Emirates (UAE). Organized on the sidelines of the 14th edition of AIM Congress on investment, the event was held under the theme 'From Vision to Action: Morocco & UAE Shaping a Bright Future Together.' The meeting brought together key economic figures from both countries, representing both public and private sectors, as well as members of the Moroccan diaspora in the Gulf region. This event is part of Morocco's national strategy to develop private investment and diversify economic partnerships, said AMDIE in a statement. The goal is to position Morocco as a regional hub for investment and export, with focus on both Africa and the Euro-Mediterranean area.- The event focused on essential reforms, high-potential sectors, and tangible projects that could pave the way for mutually beneficial partnerships, added the statement. AMDIE event on Morocco UAE Investment It saw the participation of key figures, including Morocco's ambassador to the UAE, the Minister Delegate to the Head of Government in charge of Investment, Convergence, and Public Policy Evaluation, the Director General of AMDIE, and the Director General of the Deposit and Management Fund (CDG). Also present at the meeting was the President of the General Confederation of Moroccan Enterprises (CGEM), the Director of the Casablanca Stock Exchange, and the Director of Business Development and African Cooperation at Casablanca Finance City (CFC). 'This strong participation confirms the strategic importance that Morocco places on its economic relations with the United Arab Emirates, a key partner in the region and a preferred ally in building a shared future based on mutual prosperity,' concluded the statement.
