Morocco calls Saudi investors to take advantage of gulf investment forum

Morocco invited Saudi businessmen to take advantage of the gulf investment and partnership forum to be held in Casablanca next May 2-4.

Head of the foreign investments at the finance and economy ministry, Hassan Bernoussi, who is leading a Moroccan executive delegation on a tour in Arab gulf countries told Saudi businessmen in Jeddah the forum will feature workshops on various economic sectors and visits to industrial plants, financial institutions and tourism facilities in Tangiers and Agadir.

The Moroccan official also presented a package of projects and expounded incentives offered by Morocco to foreign investors.

After Jeddah, the Moroccan delegation headed for Kuwait, second leg of its tour that will close on March 13. Other countries scheduled are Bahrain, Qatar, Oman and the United Arab Emirates.

The tour, to attract investments from the oil-rich region, comes one year after a similar one by Moroccan finance and economy minister, Fathallah Oualalou, and a 68-member delegation. Morocco's imports from the region are mainly made up of oil, plastic and chemical products, while exports consist of citrus fruits, canned food, shoes, handicraft items, ready-to-wear garments and some mining products, including phosphates.

Total Gulf investments in Morocco are estimated at around $ 1.0 billion, mainly in real estate, tourism and oil sectors.