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Kingdo O Om of Morocco Kingdoom of Moroocco 2018|20199 Discovering Business EMBASSY OF in association with THE KINGDOM OF MOROCCO Copyright © Allurentis Limited 2018. All rights reserved. Allurentis is delighted to have been involved in association with the Department for International Trade on this, the first edition of the Kingdom of Morocco - Discovering Business, and would like to thank all sponsoring organisations for their kind contributions. Morocco is a hugely exciting market and with our deep rooted relationship the potential for business is vast. We are confident that this publication will raise awareness with all readers and prove to be an invaluable resource. Electronic copies of this publication may be downloaded from Allurentis Limited's website at www.allurentis.com, provided that the use of any copy so downloaded, complies with the terms and conditions specified on the website. Except as expressly stated above, no part of this publication may be copied, reproduced, stored or transmitted in any form or by any means without the prior permission in writing from Allurentis Limited. To enquire about obtaining permission for uses other than those permitted above, please contact Allurentis by sending an email to [email protected] Photos courtesy of: www.istockphoto.com | www.123rf.com | www.shutterstock.com USINESS B Contents ISCOVERING Introduction Morocco, the emerging powerhouse where Europe meets Africa 4 D - 2018|2019 Messages HMA Thomas Reilly: British Ambassador to the Kingdom of Morocco 8 H.E. Abdesselam Aboudrar: Kingdom of Morocco’s Ambassador of his Majesty the King to the UK and Northern Ireland 9 OROCCO Andrew Murrison MP: UK Prime Minister’s Trade Envoy to Morocco 10 M Department for International Trade: Jason Ivory, Director, DIT - Morocco 11 Business - Legal - Final Investing in Morocco - DLA Piper Casablanca 12 A gateway to Africa: the continent’s new services hub 15 INGDOM OF Looking for growth: Morocco’s banks explore the African market 18 K Attijariwafa bank Europe: The bank of reference in supporting companies in Africa - Attijariwafa bank Europe 21 Infrastructure The bricks and mortar basis for a new economy 23 Building the future: new ports for a new role 25 On the fast track; high speed rail comes to North Africa 28 Energy Phousboucraa Foundation, a human face development for the Southern regions of Morocco 32 A global LNG portfolio of scale and flexibility - BP Gas Marketing 34 Morocco goes green: towards a sustainable future 36 Automotive A new industry gears up: the export road ahead 39 Aerospace Clear skies ahead, the global aeronautics industry’s new high-flier 41 Royal Air Maroc, a major key player in the history of aviation in Africa and beyond - Royal Air Maroc 44 Mining An enduring resource: digging for Morocco’s buried treasure 45 ONHYM, a catalyst for the hydrocarbons and mines sector in Morocco - ONHYM 49 Education Learning to succeed: the Kingdom’s 21st century challenge 51 Making education a priority - SIST British Education 55 Agriculture Farming: Morocco plans for a growing business 58 Tourism Sea, souks and sunshine: Morocco woos the tourists 60 Featured Contacts 64 3 KINGDOM OF MOROCCO - 2018|2019 DISCOVERING BUSINESS Morocco, the emerging powerhouse where Europe meets Africa In the turbulent world of North African politics, the Kingdom of flourishing motor manufacturing industry and an aeronautics sector Morocco bills itself as a model of stability, a nation that has contrived that have emerged in the space of barely 20 years. to avoid many of the conflicts and economic woes that have bedevilled A strong British presence testifies in part to diplomatic ties dating back other countries across the region. 800 years. Among the many blue-chip British companies doing A constitutional monarchy, Morocco can today claim to be one of the business in the country are Unilever, Marks and Spencer, most developed countries in Africa with a fast liberalising economy, GlaxoSmithKline and G4S. close ties with important trading partners, and a role as a commercial The Government attaches particular importance to free the country hub for the Maghreb and beyond. from its old dependence on costly energy imports and developing its Much credit belongs to a programme of economic reforms and tax own renewable sources. By 2030 it hopes to derive half its energy from incentives, which has successfully pulled in a raft of international the sun, wind or hydropower. investors attracted by Morocco’s low labour costs, growing workforce Morocco’s location has certainly helped: the country’s northern tip is and improving infrastructure. just 14km from Spain across the Straits of Gibraltar. Proximity to the A diversifying economy – the Government is keen to end the country’s 500 million consumers of the European Union represents an invaluable old dependence on agriculture and tourism – now includes a boon for investors. 4 NTRODUCTION I But the special trading privileges negotiated by Rabat are vitally important too. Morocco has enjoyed a free trade agreement with the US since 2006, and a 2012 deal with the EU allows tariff free access to the bloc for industrial goods. For good measure, the Government has been rebuilding links with its African neighbours. In 2017, Morocco regained a place in the African Union after an absence of 30 years, as well as being accepted for membership of the 15 nation West African bloc, ECOWAS. Tourism flourishes – in 2017 visitor numbers jumped 11% – and the mining industry remains an important prop with Morocco among the largest producers of the phosphates used in agricultural fertilisers around the world. The turnaround began only after a gradual programme of market- oriented reforms in the 1980s, overseen by the IMF, which give the Exports, largely to the EU, rose by almost 10% in 2017. And after a dip economy its present character. in 2016, economic growth recovered in 2017 to a respectable 4%. According to a World Bank forecast it should hit 3% in 2018. Inflation Politically, the country managed to avoid large scale turmoil in the is running at a modest 2%. wake of the 2011 Arab Spring, partly through the deft manoeuvring by King Mohamed VI, on the throne since 1999, who responded to pro- That’s some achievement for a country that struggled to find its feet democracy protests with a package of reforms. after freeing itself from French and Spanish control in the 1950s. By the 1980s, the country was heavily in debt and tens of thousands of A new constitution approved in a referendum the following year handed Moroccans had left home in search of work in the EU. more powers to the parliament while leaving ultimate authority in the 5 KINGDOM OF MOROCCO - 2018|2019 DISCOVERING BUSINESS Much credit belongs to a programme of economic reforms and tax incentives, which has successfully pulled in a raft of international investors. hands of the monarch. The ruling six-coalition is now led by the Internationally, relations are soured by the continuing dispute over moderate Islamists of the Justice and Development Party (PJD). Morocco’s 1975 annexation of the disputed Western Sahara, opposed by local Sahrawi people led by the Polisario Front. Not that the country is wholly free of the problems apparent in neighbouring states. Job creation has failed to keep pace with a rising Nonetheless, its status as an emerging commercial powerhouse with a population and unemployment stands at around 10%, with young business friendly environment is beyond dispute. In its 2018 Doing people and graduates especially hard hit. Business report, the World Bank ranked Morocco first in North Africa and third in the entire continent, behind Mauritius and Rwanda. Illiteracy remains widespread in the countryside, and the state education system scores poorly in international rankings. Deep In the words of a report from the Oxford Business Group, the country disparities between rich and poor persist, and the Berber minority boasts a “stable and inclusive political system” and if it can “sustain complains of neglect and discrimination by the Government, a its balancing act of working to provide domestic freedom and resentment that helps explain the recent street demonstrations and opportunity while maintaining political security, it is likely to remain a unrest in the Rif region. leading regional power.” 6 BUSINESS LAWYERS OPENING DOORS FOR YOU IN MOROCCO, IN AFRICA AND BEYOND DLA Piper is a global law firm with lawyers located in more than 40 countries throughout Africa, the Americas, Europe, the Middle East and Asia Pacific, positioning us to help clients with their legal needs around the world. Our Casablanca office offers the services of a multi-disciplinary team of over 15 Moroccan and international lawyers that can advise you on all aspects of your investments and projects. DLA Piper Casablanca | Casa Marina Business Center, Tour Crystal 3, 2ème étage, Boulevard des Almohades, 20000, Casablanca, Maroc | T +212 5 20 42 78 27 www.dlapiper.com/casablanca KINGDOM OF MOROCCO - 2018|2019 DISCOVERING BUSINESS HMA Thomas Reilly British Ambassador to the Kingdom of Morocco Morocco represents huge opportunities for British footprint in countries like Morocco where the potential businesses. Its physical proximity to and Association for British investment is under-developed. The UK Agreement with the EU; its increasingly diversified Prime Minister has appointed Dr Andrew Murrison MP economy; its geographical variety; as well as its as the proactive and well-informed Trade Envoy to increasing capacity to act as a Gateway to Africa and Morocco, dedicated specifically to increasing business regional hub for trade and investment; and its internal ties between Morocco and the UK. infrastructure development, all make Morocco an In pushing for greater British commercial presence in attractive place to invest. Morocco has made huge Morocco, we work in close partnership with the HMA Thomas Reilly strides up the World Bank table of Ease of Doing Moroccan Government and private sector.
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