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Arab Times
3 days ago
- Business
- Arab Times
Morocco and Kuwait have advanced and developed strategic partnership in all areas
KUWAIT CITY, July 27: Morocco commemorates the 26th anniversary of His Majesty King Mohammed VI's accession to the throne of his glorious ancestors on Wednesday. In an official statement, the Embassy of Morocco in Kuwait disclosed this is a precious annual occasion, through which the Moroccan people proudly recall the strength of their bond with the glorious Alaouite throne and renew their allegiance and loyalty to their beloved King -- a descendant of the noble Alaouite Dynasty. This year's celebration of the glorious Throne Day coincides with the continuation of major development projects within the framework of a modernization plan formulated under the wise leadership of His Majesty King Mohammed VI (may Allah protect him). A number of structural projects have brought about profound transformations in Morocco at the economic, social, cultural, sports and institutional levels; thanks to the dynamic reforms that encompassed vital sectors throughout the Kingdom. Thus, the Kingdom of Morocco now has a modern infrastructure in various fields; including a road network extending more than 2,000 kilometers, which is expected to reach 3,000 kilometers by 2030. This infrastructure includes Africa's first high-speed train line, extending from Tangier to Casablanca, with the second phase to Marrakech scheduled for completion within a few years. Tangier Med Port, ranked among the top 20 container ports in the world and the first in the Mediterranean and Africa, as well as the ambitious projects for the ports of Nador West Med and Dakhla Atlantic, constitute further building blocks in strengthening the maritime connectivity of the Kingdom. Given the importance of air connectivity, Morocco has engaged in developing major airports and improving logistics services to facilitate passenger traffic. Investments in these projects will reach 42 billion Moroccan dirhams by 2030 and include the development and capacity expansion of Casablanca Airport, Rabat Airport, Salé Airport, Fez Airport, Tetouan Airport, Tangier Airport, Marrakech Airport, and Agadir Airport. Royal Air Maroc's investment program includes quadrupling its fleet from 50 aircraft to 200 by 2037. Morocco has become a leading hub in the field of renewable energy in Africa and the world. It boasts of solar power plants, wind power plants, and ambitious green hydrogen production projects. It has taken one of the largest steps on the continent by announcing the launch of six major green hydrogen projects with investments totaling $32.6 billion. To diversify its economy, Morocco has become a globally recognized industrial and logistics hub, particularly in sectors of high strategic value, such as the automotive, aviation, and food industries. It is now well-positioned to join the top 50 countries in the World Bank's 'Business Management' rankings. It continues to improve its business climate by implementing the provisions of the new investment charter, simplifying administrative procedures, and offering financial and tax incentives. This contributes to attracting new investors and enhancing the competitiveness of businesses. The government, in coordination with regional investment centers and the private sector, is working hard to encourage foreign companies that contribute to technology transfer and the development of skilled local expertise, focusing on creating job opportunities and added value. This tremendous effort is accompanied by significant social and human development reforms, which underscore the humanitarian and social sensitivities of His Majesty the King, who has consistently put emphasis on this area to enable disadvantaged social groups to benefit from the fruits of development. These transformations, thanks to the wise vision of His Majesty King Mohammed VI -- may Allah protect him -- have strengthened Morocco's position as a preferred destination for foreign investment. Foreign reports ranked it as the top African country for foreign businessmen in 2025. Globally, it ranked 34th out of 68 countries. This advanced ranking is attributed to several integrated factors, most notably its stable political climate, which is a fundamental pillar for attracting investors; its strategic geographic location -- a vital link between Africa, Europe and the Atlantic Ocean, giving it a strong competitive edge in connecting markets; and its modern infrastructure, including major ports likes Casablanca and Tangier Med, as well as road and railway networks and industrial zones capable of receiving major investments. In addition to its international partners, the Gulf Cooperation Council (GCC) countries are among the Kingdom's most important partners, including the sisterly State of Kuwait, which has contributed significantly to establishing a strategic partnership to build effective cooperation. The leaders of the two countries, His Majesty King Mohammed VI and his brother, His Highness the Amir Sheikh Meshal Al-Ahmad Al-Jaber Al-Sabah, attach great importance to establishing an optimal framework for an advanced and developed partnership between the two brotherly countries at various levels. The volume and increasing pace of Kuwaiti investments in Morocco indicate the strong cooperation between the two brotherly countries. In 2023, Kuwaiti investments accounted for 0.4 percent of total foreign direct investment in Morocco. Direct investment revenues related to the capital market accounted for 63.7 percent of total Kuwaiti investments. The value of Kuwaiti direct investments in Morocco currently amounts to approximately $1.5 billion. The trade and real estate sectors are attractive for Kuwaiti investors. This trend reflects the deep-rooted relations between Kuwait and Morocco at the political and popular levels. On this occasion, it is necessary to commend the cooperation and coordination between the two countries in international forums and the firm and unwavering position of the State of Kuwait in support of the territorial integrity of the Kingdom of Morocco. Kuwait adheres to this noble position, which has been proven on all occasions and in various regional and international forums. Meanwhile, the officials of both countries are exerting tremendous efforts to develop relations in various fields. Aside from visits made by delegations from both countries to participate in various events, the First President of the Court of Cassation and President-Delegate of the Supreme Council of the Judicial Power in the Kingdom of Morocco, Mohamed Abdennabaoui visited Kuwait in February 2025. The visit included discussions with his Kuwaiti counterpart, President of the Court of Cassation and President of the Supreme Judicial Council Adel Majed Bouresli and a number of Kuwaiti judicial senior officials. His Highness the Prime Minister Sheikh Ahmad Abdullah Al-Ahmad Al-Sabah welcomed Abdennabaoui during the visit. Director of the Higher Judicial Institute Abdel Haneen Touzani also visited Kuwait in April 2025, during which he met with his Kuwaiti counterpart, Director of Kuwait Institute for Judicial and Legal Studies, Hani Mohammad Al-Hamdan. A memorandum of understanding was signed to enhance cooperation in the fields of judicial training, exchange of expertise, and the organization of joint courses and academic meetings between the two institutions. On the economic level, through the coordinated efforts of the Embassy and the Kuwaiti Ministry of Foreign Affairs, the Moroccan Ministry of Agriculture, Maritime Fisheries, Rural Development, Water and Forests received a Kuwaiti economic delegation in January 2025. This visit was an opportunity to explore the potential available to both countries to increase their trade volume. As part of strengthening economic relations between the two countries, the Moroccan Embassy in Kuwait -- in cooperation with the Moroccan Agency for Investment and Export Development and the Moroccan Confederation of Exporters in Morocco, and in coordination with the Kuwaiti Ministry of Foreign Affairs -- intends to organize a trade forum in Kuwait in September. Representatives of Moroccan companies operating in the food, textile, leather, cosmetics and medical equipment sectors will participate in the forum.
Ya Biladi
23-07-2025
- Ya Biladi
Israeli businessman arrested in Casablanca for forex scam targeting Germans
Last week, an Israeli businessman was arrested at Casablanca Airport under an international arrest warrant issued by Germany. He is suspected of involvement in a forex trading scam that defrauded thousands of German citizens, with losses amounting to tens of millions of euros. The suspect had traveled to Morocco from Dubai, where he had been vacationing with his two young children. After his arrest and referral for investigation, a relative stepped in to care for the children. A Moroccan security source told the Hebrew news site Mako that «the individual was caught off guard when informed of the Interpol-issued arrest warrant. Authorities had been building a case against him for years and were simply waiting for him to leave Dubai in order to apprehend him». The source added that his extradition to German authorities is expected in the coming days.
Morocco World
20-05-2025
- Morocco World
Court Delays Turbo's Trial in Murder of Rim Fikri's Husband
Rabat – The criminal chamber of the Casablanca Court of Appeal has postponed until June 9 the appeal trial of Reda Abakrim, known as 'Turbo,' a suspected drug baron accused of multiple kidnappings and murders, including that of the husband of Moroccan singer Rim Fikri. The delay comes as the court seeks to hear again from Rim Fikri, a civil party in the case, and due to the absence of a defense lawyer for the main defendant. Abakrim informed the court he has not yet appointed legal representation. This highly publicized case has taken many turns since Abakrim's arrest in connection with the alleged murder of Fikri's husband. Although initially acquitted in a lower court ruling on April 18, 2023, new evidence has prompted authorities to retry him, compelling his presence in court from his current detention. In addition to Abakrim, several other defendants, Saïd A., Mohammed J., Abbas M., Hassan M., and Zakaria D., are also being prosecuted for charges including kidnapping, unlawful detention, torture, and premeditated murder. Reda Abakrim is simultaneously facing another trial related to the 2007 murder of Brahim Hajaji in La Coudraie, Poissy (France). He had previously been convicted in absentia by a French court in June 2020 and sentenced to 21 years in prison for drug-related homicide. Despite being acquitted in Morocco on similar charges, his arrest in December 2020 at Casablanca Airport reopened the door for both Moroccan and French judicial actions. He was first apprehended for using a false passport, but authorities quickly discovered he was the subject of an international arrest warrant. According to civil party lawyer Mohamed Aghanaj, Abakrim narrowly escaped arrest in Dubai before being captured in Morocco. Aghanaj, who represents the family of the victim, expressed surprise at Abakrim's initial acquittal, noting that the accused holds Moroccan nationality, making him prosecutable under Moroccan law. Who Is 'Turbo'? Now 41, Reda Abakrim earned the nickname 'Turbo' for his role in organizing 'go fast' drug convoys, high-speed vehicles used to smuggle cannabis from Morocco to France. He is regarded by French and Moroccan authorities as one of the most prominent figures in the drug trafficking world. The trial's next session is expected to shed more light on both the circumstances surrounding the murder of Rim Fikri's husband and Abakrim's broader criminal network. Tags: drug baron turboRim fikriturbo
Reuters
07-05-2025
- Business
- Reuters
Morocco begins tendering process to expand Casablanca airport
RABAT, May 7 (Reuters) - Morocco issued on Wednesday two expressions of interest to identify bidders for its plan to build a new terminal that will increase capacity at its largest airport in Casablanca by 20 million passengers. Casablanca airport's expansion is part of a push to double Morocco's overall airport capacity to 78 million to meet increasing traffic in the run-up to the soccer World Cup, which Morocco will co-host with Spain and Portugal. The terminal is expected to be ready in 2029 at a cost of $1.6 billion, airports authority ONDA said in a statement. The new terminal will serve as an international hub and will be served by a high-speed train network connecting the airport to the key cities of Casablanca, Rabat and Marrakech. Morocco reported a record 17.4 million visitors last year, up 20% from 2023, and it expects to attract 26 million tourists in 2030.
Maroc
25-04-2025
- Business
- Maroc
New Kenitra-Marrakech High-Speed Rail Line, Project of Major Socio-Economic Significance
The Kenitra-Marrakech High-Speed Rail Line, launched on Thursday by His Majesty King Mohammed VI, is a project of considerable economic and social importance that will further enhance the national transportation system. This new Line forms part of the ongoing expansion of the Kingdom's rail infrastructure under the impetus of HM the King. Building on the success of Al-Boraq, it confirms high-speed rail as the most efficient and sustainable mode of passenger transport over medium and long distances, with numerous positive impacts. With this new project, travel times will be significantly reduced: 1 hour between Tangier and Rabat, 1 hour 15 minutes between Casablanca and Marrakech, 1 hour 40 minutes between Tangier and Casablanca and between Rabat and Marrakech, and just 2 hours 40 minutes between Tangier and Marrakech, a time saving of over two hours. The project will also connect Rabat to Casablanca Airport in just 35 minutes and will serve the future Benslimane stadium. A high-speed service is also planned between Fez and Marrakech, with a travel time of 3 hours 40 minutes. The future High-Speed Rail Line will serve 59% of the national population and link economic regions accounting for more than 67% of the national GDP. It will also create thousands of direct and indirect jobs and stimulate various sectors, including industry, services, and tourism. Extending the High-Speed Rail Line to Marrakech will enhance the city's tourism appeal by improving access from the north. By directly connecting Tangier, Morocco's maritime gateway, to Marrakech, the Kingdom's premier tourist destination, this line will boost both domestic and international tourist flows while providing a faster, more comfortable, and modern travel experience. It will also support regional planning and development by strengthening connections between major economic hubs, while promoting environmental sustainability in line with national development goals, through a significant reduction in greenhouse gas emissions. The Kenitra-Marrakech High Speed Rail Line extension will free up capacity on the conventional network, enabling the development of a major local metropolitan train service to meet part of the public transport needs of the inhabitants of the Rabat, Casablanca and Marrakech conurbations. This new service is a genuine response to the challenges of urban mobility in these three metropolitan areas, and offers a number of advantages in terms of punctuality, service quality and sustainability. As an innovative solution, the High-Speed Rail Line is a natural choice that reinforces the momentum of the national transport sector in supporting the Kingdom's economic and social development. MAP: 25 avril 2025
