American news agency Bloomberg stated, on June 22, that Morocco enjoys ideal positioning to attract a wide range of investments; describing the Kingdom as a “globalization oasis” in North Africa.
In an article, Bloomberg noted that Western companies are already present in Morocco in large numbers and are expanding their operations in the Kingdom, benefiting from the “nearshoring wave” the country is experiencing “at the commercial crossroads between Asia, the Middle East, and America.”
The American news agency also mentioned the carmaker Renault, which employs about 8.000 people at its Tangier plant, and the Tanger Automotive City (TAC) industrial platform, which is home to dozens of companies, including Michigan (USA)-based seating supplier Lear Corporation, and French automotive parts manufacturer, Valeo.
In a similar context, Bloomberg also emphasized that the presence of major multinationals, such as Boeing, Airbus, Stellantis, and several others has assisted the Moroccan economy in generating tens of thousands of manufacturing jobs, adding that these companies benefit from the state-of-the-art infrastructure that is available in Morocco, such as the high-speed train (TGV), industrial estates, and a wider motorway network serving the Kingdom’s major cities.
Bloomberg also cited the Tanger Med Port, a large-scale infrastructure which, following 15 years of existence, has become one of the best and busiest ports in the Mediterranean region and beyond, adding that Morocco is currently building another major port near Nador aimed at achieving similar success.
The prestigious media outlet stated that several companies, notably Chinese, are interested in the opportunities offered by Morocco, recalling that a memorandum of understanding (MoU) was recently signed between the Gotion High Tech group and the Kingdom to establish an industrial ecosystem for the production of batteries for electric vehicles and energy storage systems.
Bloomberg also added that this ecosystem, destined to become one of the largest in the world, would require an estimated investment of over six billion dollars, underlining that new impetus has recently been given to the “Tangier Tech City” project, an “intelligent city” that could be home to 200 Chinese companies.
