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El Mundo: Madrid encourages spanish investments enhancement in Morocco
Morocco-Spain, Politics, 6/19/2003
The Spanish government has called Spanish businessmen to enhance their investments in Morocco, the daily El Mundo reported.
Quoting "well informed sources," El Mundo says a top Spanish official has encouraged the construction businesses association (SEOPAN) to re-launch its projects in Morocco and exert more efforts to get contracts in sectors of infrastructure and services that Morocco will be launching in the next months.
In the same vein, the paper reports that Spanish group Dragados is "interested" in the evolution of Moroccan-Spanish relations and wants to probe investment opportunities in the kingdom. Construction group FFC, which wants to re-launch projects in Morocco, has voiced the same interest.
Recalling that the bid for the privatization of Morocco's tobacco company was won by the French-Spanish group Altadis for 1.2 billion Euro, the paper says officials and economic operators from both shores of the strait are making efforts to uphold Spain as Morocco's second foreign investor and its 10th client.
Bilateral exchanges were worth 3 billion Euro in 2002, El Mundo goes on.
According to head of the Spanish confederation of enterprises (Spain's major employer's association with 2.3 million enterprises), Jose Maria Cuevas, "there is a common will to multiply investment and trade."
Presently, over 9,000 Spanish enterprises are operating in Morocco, including multinational companies Telefonica, Endesa, Repsol, Cepsa, Gas Natural, Aguas de Barcelona, Aceralia, Abnegoa, Fagor, Inditex, and the banks BBVA, SCH and Caja Madrid.
Previous Stories:
King Mohammed receives message from Spanish head of government
(6/12/2003)
Spanish politicians satisfied with normalization of Moroccan-Spanish relations
(6/10/2003)
Morocco, Spain commit to upgrading ties
(6/7/2003)
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