Morocco major mediterranean destination for foreign direct investments
Morocco, Economics, 5/8/2002

Morocco has become one of the largest recipients of foreign direct investments in the Mediterranean basin, thanks to its openness on Europe, the ratification of World Trade Organization (WHO) agreements, and its projected free trade zone with several Arab countries, Morocco's ambassador to France, Hassan Abouyoub, said.

The Moroccan diplomat made the statement during a forum on "investing in Morocco," organized part of the first France-Maghreb convention held here May 6-7.

The convention, which aims at "a more humane, more ambitious economic and social framework" for relations between France on one side, and Morocco, Algeria and Tunisia on the other, features forums, workshops and round tables on human resources and young entrepreneurs.

It also aims at assessing the economic, social, political and cultural conditions of the France-settled Maghreban population.

Director of foreign investments department at the ministry of economy and finance, Hassan Bernoussi, said foreign direct investments conducted in Morocco exceeded $3 billion in 2001, thanks to a set of juridical measures and fiscal and customs incentives.

Bernoussi said the recently created Regional Investment Desks mean to decentralize and simplify investment procedures, encourage enterprise creation and support investors. A participants from the Hassan II Foundation for Moroccan Expatriates Speaking of the role played by, an executive from the foundation said this institution has processed some 1,500 investment files submitted by Moroccan expatriates. It has also trained consultants to help them carry out their projects, and inform them on the evolution of Morocco's investment policy.

Amina Naji, a Paris-based attorney and legal advisor for several French companies operating in Morocco, spoke about legal guarantees provided for investors in Morocco, citing in particular the trade courts set up in 1998 to settle commercial disputes, regulate relationships between investors and the administration and guarantee the foreign investors' interests.

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