Latest news with #KarimZidane
Morocco World
4 days ago
- Business
- Morocco World
Valencia Economic Delegation to Visit Tangier in June
Doha – A high-level economic delegation from Spain's Valencia region will visit Tangier on June 2-3, aiming to strengthen bilateral economic and commercial ties with Morocco. The mission is organized by the Valencia Chamber of Commerce, the Tangier-Tetouan-Al Hoceima Chamber of Commerce, and Morocco's Consulate General in Valencia. Led by Marian Cano, Valencia's regional minister for Innovation and Industry, the delegation will include representatives from key sectors, including agri-food, textiles, tourism infrastructure, sports facilities, construction, transportation, and financial services. CaixaBank will be among the financial institutions represented. In a demonstration of the commitment of Valencia's main economic institutions to structured bilateral cooperation, the heads of the Chambers of Commerce of Valencia, Alicante, Orihuela, and Alcoy will also participate. The delegation's agenda begins with an opening session on Monday, June 2, at 9:30 a.m. at the headquarters of the Tangier-Tetouan-Al Hoceima Chamber of Commerce. This session will feature institutional officials and business leaders from both countries presenting regional development strategies and initiating dialogue between economic operators. Business-to-business meetings will follow, facilitating direct exchanges between Spanish and Moroccan companies to explore partnership opportunities. Read also: Spanish Municipal Delegation Explores Morocco's Dakhla Development Projects A visit to Tangier Med port, one of Africa's and the Mediterranean's largest logistics hubs, is also scheduled. This tour aims to showcase the region's infrastructure capabilities and competitive advantages. This mission comes as economic ties between Rabat and Madrid continue to grow. This week, on May 28, four investment agreements worth MAD 500 million ($50 million) were signed in Rabat between Morocco and Catalan companies. The agreements were concluded during a meeting between Karim Zidane, Morocco's Minister Delegate for Investment, and a delegation of Catalan businesses led by Josep Sánchez Llibre, president of Foment del Treball, the main employers' confederation in Spain's northeastern autonomous region. These Catalan investments will create over 700 direct jobs in Tangier, Tetouan, and Kenitra across several sectors, including automotive, waste management, industrial packaging, and construction materials. Sánchez Llibre announced that Catalan investments will continue flowing to Morocco, with another delegation of about twenty Catalan companies planning to visit within a year. Their three-day business trip follows the 'Morocco Now' roadshows held in Barcelona in January 2024, in Madrid in April 2025, and Foment's first visit to Morocco in June 2024. Tags: Morocco Spain relationsValencia
Maroc
4 days ago
- Business
- Maroc
Morocco, Spain Sign MoUs For Four Catalan Projects of 500 Million MAD Investment
Four memorandums of understanding were signed on Wednesday in Rabat to implement investment projects totaling 500 million Moroccan dirhams (MAD), spearheaded by Catalan companies. 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
Morocco World
6 days ago
- Business
- Morocco World
Morocco Signs $50 Million Investment Deal with Catalan Companies
Rabat — The Moroccan government signed four major investment agreements with Catalan companies on Wednesday, securing a total investment of MAD 500 million ($50 million) that will create over 700 direct jobs. The projects will launch in three key Moroccan cities: Tangier, Tetouan, and Kenitra. This deal marks a significant step forward in strengthening economic ties between Morocco and Spain. High-Level signing ceremony Karim Zidane, Morocco's Deputy Minister for Investment, hosted the signing ceremony in Rabat. Josep Sánchez Llibre, president of Foment del Treball, Catalonia's main business organization, led the Catalan delegation. The investments target four strategic sectors, including automotive manufacturing, waste recovery, industrial packaging, and construction materials. These areas reflect Morocco's growing appeal as an investment destination and its ability to turn economic partnerships into job-creating projects. Morocco positions itself as a regional hub Zidane noted that these projects align with King Mohammed VI's vision to establish Morocco as a competitive industrial and economic hub in Africa and the Mediterranean region. 'We have implemented structural reforms that make investing easier,' Zidane explained, noting three key improvements, namely digital procedures, simplified administration, and stronger Regional Investment Centers (CRIs). Catalonia plans bigger future investment Sánchez Llibre commended the warm reception his delegation received and announced ambitious expansion plans. 'These first projects are just the beginning of a larger, long-term presence in Morocco,' he said. 'We will return within a year with a new delegation of about twenty Catalan companies,' Sanchez Llibre added. Spain-Morocco strengthened economic partnership Spanish Ambassador to Rabat Enrique Ojeda Vila attended the ceremony and celebrated the initiative. He reminded attendees that Morocco and Spain are each other's top economic partners, with strong geographic, historical, and strategic connections. Meanwhile, Adil Rais, co-president of the Morocco-Spain Economic Council (CEMAES), said the agreements reflect both countries' commitment to enhancing a solid investment axis, intending to make Spain Morocco's largest foreign investor. Building on previous success This signing ceremony is a continuation of the bilateral economic promotion work under the 'Morocco Now' initiative. Previous efforts include roadshows in Barcelona in January 2024 and Madrid in April 2025, as well as the first Catalan delegation visit in June 2024. The new investments demonstrate Morocco's success in attracting international partners and transforming diplomatic relationships into concrete economic opportunities that benefit both countries' workers and businesses. Tags: economyInvestment dealMorocco spain
Morocco World
01-05-2025
- Business
- Morocco World
Morocco Offers Up to 30% Tax Incentives for Foreign Investors
Doha – Morocco is increasingly becoming an attractive investment destination as it strengthens economic and cultural ties to neighboring countries. In an interview with Spanish news outlet El Economista, Karim Zidane, Morocco's Minister of Investment, outlined the country's investment strategy and opportunities. 'Morocco has become a reference destination for investment in both Africa and the Mediterranean region, thanks to a combination of structural factors and strategic reforms driven under the vision of His Majesty King Mohammed VI,' said Zidane during the 'Morocco & Spain – Investing Together For a Sustainable & Shared Future' event in Madrid. The forum, organized by the Morocco-Spain Economic Council (CEMAES) in collaboration with Morocco's Ministry of Investment and the Moroccan Agency for Investment and Export Development (AMDIE), aimed to promote joint investment between the two countries. The minister pointed to Morocco's political and macroeconomic stability, strategic geographic location, and modern infrastructure network as key strengths. This includes world-class ports like Tanger Med, high-speed rail networks, and integrated industrial zones. 'Beyond Africa, our continent of belonging, the quality of our infrastructure now rivals that of several European countries, and even surpasses them in some segments,' he noted. Priority investment sectors Priority sectors for investment include the automotive industry, aeronautics, electronics, agribusiness, pharmaceutical and textile industries, and offshoring. Emerging strategic sectors such as renewable energies — particularly green hydrogen — digitalization, information technologies, and circular economy are also gaining importance. The automotive industry has experienced spectacular growth over the past decade, becoming the country's leading export sector. Morocco currently has a complete ecosystem that includes two manufacturers (Renault and Stellantis) and more than 250 major international manufacturers. Regarding renewable energy, Zidane stated that 'more than 40% of our energy mix comes from renewable sources, and we have already built major solar and wind projects in our country, such as the Noor project in Ouarzazate.' Morocco presents major opportunities for investment across energy infrastructure, production, transport, and export. The country has implemented structural reforms to improve its investment climate, with the cornerstone being the new Investment Charter adopted in late 2022. This charter establishes a modern, transparent, and equitable regulatory framework for domestic and international investors. 'Morocco offers incentives that can reach up to 30% of the total investment amount,' Zidane explained. These include direct investment subsidies granted based on each project's characteristics, geographical location, and sector of activity. The country also provides 'tax exemptions for the first years for new companies or those established in specific zones.' World Cup and Industry 4.0 driving growth Zidane also talked about how major international sporting events are accelerating Morocco's development. 'These sectors are experiencing accelerated momentum today, driven by the prospect of major international sporting events that Morocco is preparing to host,' he said. He added that these include the 2025 African Cup of Nations and, above all, the 2030 World Cup 'which we will have the pleasure of organizing jointly with Spain and Portugal.' The minister also addressed the challenges Morocco faces in attracting more foreign investment, including the need for continued development of high-value-added sectors and integration of new technologies in value chains. 'The challenge of education and technical training continues to be relevant, especially in emerging sectors such as renewable energies or Industry 4.0,' Zidane noted. 'To attract more foreign investment, it is essential to continue promoting a highly qualified workforce prepared for the sectors of the future.' He added that the joint World Cup bid with Spain and Portugal 'embodies this spirit and reflects our mutual trust in the ability to build high-level projects together.' Strategic advantage with US and EU trade In the current global climate with changing US trade policies, Morocco finds itself in a unique position. 'The relations between Morocco and the United States are based on historical bonds of trust, reinforced by long-term economic and strategic commitments,' Zidane said. Morocco is the only African country with a free trade agreement with the United States, in effect since 2006, guaranteeing preferential access to the American market for a wide range of goods and services. 'Only nine countries in the world have free trade agreements with both the United States and the European Union, offering a dual gateway to two of the largest global markets,' the minister added. Zidane noted that Morocco was fortunate not to appear on the 'Liberation Day' tariff table introduced by the Trump administration. He sees this as an opportunity for European and Spanish companies to relocate to Morocco to continue exporting to the United States. 'In this new international context, characterized by the search for resilience and diversification, Morocco offers a clear, solid, and future-oriented value proposition,' the minister asserted. He envisions opportunities for trilateral Morocco-Europe-United States co-investment based on complementary advantages and converging strategic interests. In the context of nearshoring, Morocco's proximity to Europe — particularly Spain at just 14 km away — combined with its stability, infrastructure quality, trade openness, and competitive operating costs position it as a natural partner for value chain relocation. 'We propose a model of strategic relocation, based on sustainability, agility, and reinforced regional integration,' Zidane explained. 'Morocco doesn't just bring production centers closer to major markets: it offers a strategic relocation model.' 'The diplomatic relations between Spain and Morocco are going through an exceptional moment, and we have a 'window of opportunity' that we must seize so that economic relations between our countries continue to grow,' Zidane concluded. While Spain has been Morocco's leading trading partner for more than a decade, he believes the potential for investment is even greater. Read also: Morocco Spotlights Investment Opportunities at 'Morocco Now' Conference in Madrid Tags: Foreign investment in MoroccoKarim ZidaneMinistry of Investment
Ya Biladi
30-01-2025
- Business
- Ya Biladi
Morocco approves $1.7 billion in investments, creating 27,000 jobs
Morocco's National Investment Commission has given the green light to 20 investment projects totaling $1.7 billion (MAD 17.3 billion), with the potential to create 27,000 jobs, Minister Delegate for Investment Karim Zidane announced on Wednesday. The approved projects are distributed under two investment schemes: the basic support system, which involves MAD 4.3 billion and is expected to create 5,500 jobs, and the strategic support system, which could reach up to MAD 13 billion and generate 21,500 jobs. These initiatives will span 14 provinces across seven regions. The investments are set to boost seven key sectors: tourism, renewable energy, agri-food, automotive, packaging, lighting, textiles, metallurgy, and telecoms. «These projects highlight Morocco's growing appeal as an investment hub», Zidane stated after the commission's meeting, which was chaired by Prime Minister Aziz Akhannouch.
