Friday, November 8, 2024 at 11:05
Frankfurt – The Minister of Trade and Industry, Ryad Mezzour, examined the opportunities for partnerships and investments in Morocco with important players in German industry, on the sidelines of his participation in the 3rd “Africa Trade & Invest”, which was held on November 6 and 7 in Frankfurt.
Representing Morocco at this annual event initiated by the German-African Economic Association “Afrika-Verein”, Mr. Mezzour explained to German industrialists Morocco’s new vision in terms of investment and the reforms put in place to strengthen attractiveness of the Kingdom and stimulate partnerships with high added value.
These leaders of the German productive fabric, like Weiss Chemie, Siemens and Bosch, have shown a particular enthusiasm for investing in Africa, particularly in Morocco, considered a reliable partner, open to the world and offering one of the the most competitive platforms on the continent.
“This visit was marked by very enriching exchanges and promising meetings for the industrial and commercial development of Morocco, within the framework of the major industrial integration projects carried out by His Majesty King Mohammed VI,” indicated Mr. Mezzour in a declaration to the MAP.
Among these sectors, the minister mentioned the development of green hydrogen, electrolysers as well as the automobile, in short the high value-added industry that Morocco has built as part of a complete ecosystem, ranging from workforce to tax and financial incentives.
“We are seeing growing interest from German operators, with concrete direct investments in the pipeline, including at least two factories for which negotiations are advanced. We met with the promoters and investors of these projects, as well as several other partners who have expressed investment intentions,” said Mr. Mezzour.
The “Africa Trade & Invest” Forum brought together representatives of the German private sector and several African delegations, made up of political-economic decision-makers, with Somalia as guest of honor, represented by its President Hassan Sheikh Mohamud.
Under the theme “Creating the ideal framework to unlock commercial and investment opportunities in Africa”, this meeting aims in particular to identify the regulations necessary to strengthen the presence of German companies on the African continent, as well as existing financing and risk reduction.
Afrika-Verein is an organization dedicated to promoting economic exchanges between Germany and African countries. It brings together more than 550 members, mainly German companies and institutions, and represents around 85% of German activity in Africa, covering all sectors, from start-ups to large DAX companies.
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