Morocco’s efforts to attract investment for targeted industries, such as aerospace, automotive manufacturing and renewable energy, will be explored in a forthcoming report to be published by the global publishing, research and consultancy firm Oxford Business Group (OBG).
The Report: Morocco 2014 will chart the increase in economic cooperation and investment fuelled by the landmark Free Trade Agreement (FTA) which the country signed with the United States (US) in 2006. The publication, which marks OBG’s tenth report on Morocco’s economy, will also consider new areas generating interest among US investors, particularly those with an interest in oil exploration.
OBG has signed its tenth Memorandum of Understanding (MOU) on research facilities with the American Chamber of Commerce (Amcham) Morocco to document the latest economic developments taking place in the country. Under the MOU, OBG will have access to the chamber’s expertise and research resources, which will be used to compile The Report: Morocco 2014.
OBG’s Regional Editor, Robert Tashima, said that the changes witnessed over the past ten years in Morocco’s economy, from improvements in public sector spending to attracting higher value-added activities, have had a tangible impact on the country’s overall level of development.
“Some neighbourhoods in Casablanca and Tangiers look nothing like they did ten years ago,” he observed. “While stubborn challenges remain, such as inclusive growth, the country’s markets now represent some of the deepest and most liquid on the continent.”
Rabia El Alama, Managing Director, Amcham Morocco, agreed that the changes witnessed during the decade-long partnership between the AmCham and OBG had been plentiful, with particular progress noted in the country’s efforts to make its business environment more investor-friendly through legislative and regulatory reforms.
“The Free Trade Agreement signed between Morocco and the US, together with other key, bilateral initiatives, opened the gates for more businesses to set up operations here and use the country as a base for expanding their exports,” she said. “While implementation of Morocco’s legal framework and e-services remain issues, the country’s strategic location and sound infrastructure, led by the Tanger-Med, bode well for new investment and partnerships.”
OBG’s Country Director, Myriem Dahlab, said Amcham Morocco’s local knowledge had given the Group’s research added depth over the years.
“With a well-diversified economy, a favourable geographical location, and improved strength from recent reforms, Morocco is poised to become one of the region’s most attractive investment destinations,” she said. “I am thrilled that we will once again benefit from the AmCham’s extensive resources as the country continues to transform itself into a regional and commercial platform.”
The Report: Morocco 2014 will be a vital guide to the many facets of the country, including its macroeconomics, infrastructure, banking and other sectoral developments. The publication will be available in print or online.
About Oxford Business Group
Oxford Business Group (OBG) is a global publishing, research and consultancy firm, which publishes economic intelligence on the markets of Africa, Asia, the Middle East and Latin America. Through its range of print and online products, OBG offers comprehensive and accurate analysis of macroeconomic and sectoral developments, including banking, capital markets, insurance, energy, transport, industry and telecoms. The Report: Morocco 2014 is produced with research assistance from AMDI, AmCham Morocco, CFG, Chambre Francaise de Commerce et d’Industrie du Maroc, Kettani Law Firm and KPMG.
The critically acclaimed economic and business reports have become the leading source of business intelligence on developing countries in the regions they cover. OBG’s online economic briefings provide up-to-date in-depth analysis on the issues that matter for tens of thousands of subscribers worldwide. OBG’s consultancy arm offers tailor-made market intelligence and advice to firms currently operating in these markets and those looking to enter them.