Although a recent report on investments in the world signals a decline in foreign direct investment (FDI) in Morocco, the indicators should however be green in the year 2024, following the announcement of the completion of several important projects. foreign investments in the country, says Al Ahdath Al Maghribia this Thursday, June 27.
According to the daily, which relays information published in several Spanish media, more than 360 companies from this country have relocated their activities to Morocco in recent months.
Investors explain their decision by the good relations between Morocco and Spain, but also with the aim of avoiding the effects on their production of EU tax policies, whose tax rates are judged “very high».
According to the Spanish daily The reason, that relays Al Ahdath Al Maghribiathis would even be a “collective flight of Spanish companies to Morocco“, due to its “business environment, more suitable».
The Spanish Institute of Exports and Investments (ICEX) indicates that 10% of companies which have just transferred their activities to Morocco operate in the agri-food industry, such as the Ebro Foods and Borges groups.
According to Al Ahdath Al Maghribia, which relays information contained in a report on FDI, these Spanish companies will benefit from a removal of customs duties on their exports to EU countries, covering 70% of agricultural products and fishing, benefiting from the terms of the Agricultural Agreement concluded between Morocco and the EU.
These exemptions will enable European exporters to make savings estimated at nearly 100 million euros annually.
The ICEX further reveals that companies having relocated their activities to Morocco will benefit from a “good investment climate» and its encouraging customs measures, in order to “enter into partnerships and alliances with Moroccan companies».
According to The reasonMorocco has been able to show itself “intelligent» by adopting policies that greatly facilitate the export of products to the EU, while being able to capitalize on the advantage of its geographical proximity to its member countries.
Spanish companies are not the only ones to have opted for this new Eldorado that is Morocco: other foreign companies, operating in different branches of activity, have even gone ahead of them and invested massively there. This is the case for Chinese companies specializing in the manufacturing of electric batteries.
Al Ahdath Al Maghribia thus relays the fact that the transfer of the activity of several Chinese companies is imminently planned in the country, in order to enable them to prepare for the EU’s preparations to introduce additional taxation on their exports of electric cars.Made in China».
Par Hassan Benadad
06/26/2024 at 8:14 p.m.
