Moroccan entrepreneurs in the diaspora plan to invest $1.946 billion (MAD 21 billion) in Morocco over the next 12 months.
Karim Ammor, who presided over a delegation of Moroccan entrepreneurs from around the world (MEMs), revealed this in Casablanca on October 6, stating that investment projects are planned across Morocco over the next 6 to 12 months.
The Dakhla-Oued Eddahab region, where renewable energy and infrastructure projects are booming, will also be included in the investments.
“These MEMs have formed a consortium to come and invest in Morocco, as well as to bring companies from their respective regions with them to invest in concrete projects,” Ammor explained.
According to Said Bouharrak, a member of the delegation, the group of entrepreneurs is interested in several projects, including the agricultural sector and the export of red meat.
“The change in conditions in Europe regarding ritual slaughter presents a real opportunity to start exporting,” Bouharrak said, emphasizing that Flemish partners intend to invest $305 million across Morocco.
“Moroccan partners will work with us from start to finish achieving a certain level of quality while adhering to the traceability and hygiene report,” he said.
Another company intends to launch a plastic-to-fuel recycling project with a budget of nearly $145 million (MAD 1.6 billion) to help solve the problem of plastic waste and energy scarcity.
King Mohammed VI’s Calls on Moroccan diaspora members to invest in the Kingdom
“I call once again on Moroccan youth and on project holders residing abroad to make the most of the numerous investment opportunities in Morocco, as well as the incentives and guarantees offered by the new investment charter,” the king said in his speech on the anniversary of the Revolution of King and the People.
However, he acknowledged that more efforts must be made to ensure a better climate for Moroccan diaspora investment.
The monarch stated that despite the state’s significant efforts to receive Moroccans living abroad in the best possible conditions; those efforts are “insufficient.”