The international business intelligence firm, Oxford Business Group (OBG), highlighted in a report by Morocco`s efforts to establish itself as a regional center of the capital investment
The 2013 report on Morocco, presented at the "World Investment Conference North Africa 2013" held in Marrakech from March 20th to 22nd 2013, provides a comprehensive outline of the Moroccan economy, with particular emphasis on secondary and tertiary activities such as industry and finance.
The report also highlights Morocco`s eastern part with an analysis of its growth potential, while emphasizing infrastructure projects in the region. The document includes a detailed guide, sector by sector, for foreign investors.
A number of eminent personalities from the world of politics, economy and business offered their point of view about the development of Morocco, including the Head of Government, Mr. Abdel-ilah Benkiran, the Minister of Economy and Finance, Mr. Nizar Baraka, the British Minister in charge of North Africa, Mr. Alistair Burt, as well as the President of Bombardier Aerospace Guy HACHEY.
The OBG`s Editorial Director for Africa, Mr. Robert TASHIMA, noted that Morocco has recorded a steady growth over the past two years, despite the economic slowdown in the EU and unrest in other countries of North Africa, mainly because of a diversified economy and a financial sector relatively unaffected.
However, exports slowed and cyclical issues should not be underestimated, but the country has managed to encourage growth in key sectors with a high workforce, such as aerospace and automotive, offsetting the decline in sectors such as tourism, he stated.
Mr. BARAKA expressed in an interview published in the group`s report, his trust in the steps taken within the Finance Act 2013, which should help boost exports. He stressed the priority to accelerate the implementation of sector export strategies, and to extend support to other sectors, including pharmaceutical, metallurgical and chemical industries.
Beyond the expanding export products supply and improving the competitiveness of SMEs, Mr. Baraka also stressed Morocco`s need to diversify its export destinations.
"We want to strengthen our presence in Africa and speed up markets access in the region," he noted, adding that Morocco also seeks to consolidate its position in the Arab countries, especially in the Gulf. The editor of OBG, Andrew Jeffreys, noted that by playing a role of a financial regional hub, Morocco was very performing.
Mrs. Miranda STOBBS, Director of OBG in Morocco, noted that the Kingdom is becoming one of the most attractive destinations for investment in the region thanks to a series of reforms, improved infrastructure and a strategic location.
The 2013 report on Morocco is the result of more than six months of fieldwork during which an OBG analysts team could assess trends and economic developments, including macroeconomic performance and sector based, infrastructural and bank developments and others.