Morocco, Belgium set up 100 million euro-worth investment fund
Morocco-Belgium, Business, 9/10/2001

Two private groups, Moroccan "Saham" and Belgian "Thomas et Piron," have set up a fund worth 100 million Euros that will invest in the sector of real estate.

The fund will finance joint housing projects in several Moroccan cities.

The two groups have already launched two joint projects in Casablanca providing for the construction of respectively 256 and 608 lodgings, a project in the Moroccan southern Atlantic city of Agadir for the construction of 262 lodgings and a fourth project for the building of 110 houses in Sidi Rahal, 20 km south of Casablanca.

The signing ceremony of the accord setting up the fund was chaired by Prince Philippe, heir apparent to the throne of Belgium, and attended by Moroccan minister of economy, finance, privatization and tourism, Fathallah Oualalou, and Belgian deputy foreign minister in charge of agriculture, Ms Annemie Neyts-Uyttebroeck.

Prince Philippe arrived in Casablanca Sunday on a five-day work visit to Morocco at the head of a large Belgian business delegation.

Prince Philippe and his accompanying delegation are to meet Moroccan officials, economic operators and representatives of the civil society. Prince Philippe will also attend several economic, cultural and social events, including two seminars on water and on the backing of the European investment bank to private investment in Morocco.

Morocco, Belgium's 45th client and 47th supplier, exports to the European country textile items, and chemical and mineral products. Morocco's imports from Belgium are made up of textile items, machinery, electric devices and chemical products.

Previous Stories:
  Belgian business delegation in Morocco early September   (8/31/2001)
  Group of Belgian officials and businessmen in Morocco in September   (7/7/2001)
  Belgium to finance Moroccan project to fight child labor   (6/15/2001)
  Belgian investors explore Moroccan market   (3/12/2001)
  Belgian business delegation in Morocco Sunday   (2/16/2000)
  RAM starts Nador-Brussels flights   (11/3/1999)

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