Moroccan, UAE businessmen explore investment possibilities in Morocco

A group of businessmen from Morocco and the United Arab Emirates held in Rabat on Tuesday a meeting to survey UAE investment opportunities in Morocco.

The meeting was held part of a visit to Morocco by deputy governor of Dubai and UAE finance and industry minister, Sheikh Hamdane Ben Rached Al-Maktoum.

Morocco's economy, finance, privatization and tourism minister, Fathallah Oualalou, surveyed the ongoing economic mutations in Morocco, stressing that the kingdom, which used to depend largely on agriculture, is now endeavoring to diversify its production by developing the textile and food industries, in addition to promoting the sectors of information, communication and electronics.

He also explained the kingdom's privatization policy and expounded existing possibilities in tourism, the opening of infrastructure projects to foreign capital and advantages offered by Moroccan laws to foreign investors.

Sheikh Al-Maktoum's delegation comprises telecommunication minister, Ahmed Hamid Tair, and officials from the Dubai chamber of commerce, the town council, public administrations and private enterprises.