Great investment opportunities in the Tangier-Tetouan-Al Hoceima Region
The event "Doing Business in Tangier-Tetouan-Al Hoceima Region" held its first edition in Casablanca in March 2023, then had new editions in Seville in July 2023 and in Barcelona in December of the same year. Now, in July 2024, it has arrived in Valencia with the same objective of promoting investment in the region of Tangier-Tetouan-Al Hoceima, of great importance for Morocco and where the Moroccan State wants to promote economic activity to the maximum.
The auditorium of the Port Authority of Valencia was the venue chosen for this new edition of the event "Doing Business in Tangier-Tetouan-Al Hoceima" in order to promote investment and trade relations between regions such as Tangier-Tetouan-Al Hoceima and Valencia, of great importance for Morocco and Spain, two countries that currently have excellent diplomatic and economic relations.
The meeting was jointly organised by the Regional Investment Centre of the Tangier-Tetouan-Al Hoceima Region, the Official Spanish Chamber of Commerce in Morocco-Tangier, the Consulate General of the Kingdom of Morocco in Valencia, the Council of the Tangier-Tetouan-Al Hoceima Region, the Morocco-Spain Economic Council (CEMAES), the General Confederation of Moroccan Enterprises (CGEM) of the Tangier-Tetouan-Al Hoceima Region, the Chamber of Commerce of Valencia, the Business Confederation of the Valencian Community-CEV, the Valencian Institute of Business Competitiveness IVACE and the Port Authority of Valencia.
Several leading experts in investment, economics, business and finance have shared their knowledge and analysed the numerous advantages, the technical-financial advisory mechanisms and the immense business opportunities of the Tangier-Tetouan-Al Hoceima region in northern Morocco in terms of investment for Spanish and Valencian entrepreneurs in particular interested in this flourishing Moroccan region.
The aim of this event is to strengthen the commercial and economic links between both regions, highlighting the advantages, the technical-financial advisory mechanisms and the great business opportunities in the Tangier-Tetouan-Al Hoceima region, an area that is evolving thanks to the promotion of the Moroccan State, under the guidelines of King Mohammed VI.
The aim of this event is to promote investment, trade and stronger economic ties between the various regions of Morocco and other countries or communities, as in this case the Valencian Community.
On the day of the 11th, in the auditorium of the Port Authority of Valencia, the first panel gave way to the topic "The territorial offer and investment incentives in the Tangier-Tetouan-Al Hoceima region", with the presence of Noussaira El Harrak, head of Project, Territorial Offer and Promotion of the Regional Investment Centre of the Region of Tangier-Tetouan-Al Hoceima, Fadoua Ouallal, head of the Communication and Advisory Department of the Moroccan Agency for the Development of Investment and Exports (AMDIE), Tarik Rmiki, Head of Cooperation Service at the Regional Council of Tangier-Tetouan-Al Hoceima, Ali Achaach, Senior Business Development Manager at Tangier Med Zones, Chakir Bouatia, Director of Development at MEDZ, Mohammed Amin El Hajhouj, Director General of Innovative Energy and Efficiency (INEE), Hasnaa Soraya Melyani, Head of the Innovative Entrepreneurship Department at the Digital Development Agency, Nafeh Agourram, President of the Order of Chartered Accountants of the Tangier-Tetouan-Al Hoceima Region, Amal Boussouf, Director of the Official Spanish Chamber of Commerce in Tangier, and Ahd Zedgui, Director of the Northern Network of the Crédit du Maroc Bank.
Noussaira El Harrak, Head of Project, Territorial Offer and Promotion of the Regional Investment Centre of the Region of Tangier-Tetouan-Al Hoceima, spoke on the theme "Investing in the TTA region: the territorial offer in terms of investment".
The representative gave way to the projection of the institutional video of the CRI with the most interesting data of the business and investment offer of the region of Tangier-Tetouan-Al Hoceima.
Subsequently, Noussaira El Harrak pointed out that Morocco strengthens investment and the economy following the royal vision of King Mohammed VI, placing the kingdom as a major investment destination in Africa and the main destination for Spanish companies on the continent, thanks to the momentum through the Regional Investment Centres.
The main objective in this sense is to promote investment at regional, national and international level with events such as the one held in Valencia.
Noussaira El Harrak referred to the activity of the Regional Investment Centre: "We provide all the information about the territory and the procedures, acting as a one-stop shop for authorisations for investment in a digitalised form, in direct contact with the CRI team. There is also mediation work between administrations and investors, with technical assistance from the beginning to the end of the installation and start of the activity of the company in the region".
The Tangier-Tetouan-Al Hoceima region offers some very relevant data, such as its 16,000 square kilometres, its 3.9 million inhabitants and its 42.6% employment rate, as Noussaira El Harrak explained. Moreover, according to a World Bank report, 92% of investors and companies are satisfied with their establishment in the region.
The head of Project, Territorial Supply and Promotion of the Regional Investment Centre of the Tangier-Tetouan-Al Hoceima Region also highlighted the region's infrastructures, with world-class connectivity. He also praised the highly qualified human capital of the area, with a majority of Spanish-speaking people.
On the other hand, the region of Tangier-Tetouan-Al Hoceima is the second region contributing to industrial sales in Morocco and the second in industrial added value in Morocco; it is also the first region in terms of concentration of foreign capital.
Noussaira El Harrak also highlighted the low production costs, which is attractive to entrepreneurs. All this with a highly qualified workforce in various key sectors such as textiles and the automotive industry.
The representative of the Regional Investment Centre of Tangier-Tetouan-Al Hoceima also highlighted the mechanisms and incentives for investment in Morocco, with the relevance of the New Investment Charter, which provides for a subsidy of up to 30% of the amount of business investment if there is an investment of 5 million euros or a minimum of 50 employees or if a company has 150 stable employees.
Noussaira El Harrak also highlighted the NORDEV Regional Investment Assistance Fund, which can offer up to a supplementary premium to accumulate up to 50% investment subsidy alongside the New Investment Charter.
Fadoua Ouallal, Head of the Communication and Advisory Department of the Moroccan Agency for the Development of Investment and Exports (AMDIE), spoke on the topic "Presentation of new incentive mechanisms envisaged in the framework of the New Investment Charter".
AMDIE plays a major role in the sectoral promotion of Morocco's offer at national and international level, creating added value, improving competitiveness and creating jobs. It is an "effective tool for promoting investment and exports".
Fadoua Ouallal pointed out that Morocco offers political and economic stability, free access to world markets, young and qualified human resources and access to green and competitive energy and important infrastructures.
"A stable and forward-looking country thanks to the directives of King Mohammed VI", as Fadoua Ouallal herself pointed out.
The head of the Communication and Advisory Department of the Moroccan Agency for the Development of Investment and Exports (AMDIE) referred to Morocco as a world-class hub with the jewel in the crown being the Port of Tangier Med.
The internationalisation of Moroccan companies and support for national SMEs are among the upcoming objectives, with territorial and sectoral bonuses and support mechanisms for strategic sectors within the New Investment Charter, which also seeks "territorial equity".
On theother hand, Tarik Rmiki, Head of the Cooperation Service at the Regional Council of Tangier-Tetouan-Al Hoceima, addressed the theme "NORDEV regional investment aid fund".
The New Investment Charter aims to attract national and foreign investments, simplify and digitalise processes. Investment is the responsibility of all institutions for the private sector to boost the national economy, all under the guidelines of King Mohammed VI, as Tarik Rmiki indicated.
NORDEV is a regional fund inspired by Morocco's New Development Model for investment following the Moroccan Government's strategy to improve the governance of investment management with decentralisation and administrative deconcentration allowing the Regional Investment Centres to play a key role as poles of investment and job creation.
NORDEV promotes active partnership and stakeholder mobilisation in regional development, with a budget of 1 billion dirhams, with subsidies up to 30% of the investment amount and additional bonuses for regional or sectoral requirements. Beneficiaries are large companies, SMEs, cooperatives and also the self-employed.
NORDEV's objectives include employment generation, regional attractiveness, technological innovation, cohesion and social justice.
NORDEV Fund creates a favourable environment for investment with positive impact on employment generation and sustainable development, as Tarik Rmiki recalled.
Ali Achaach, Senior Business Development Manager of Tangier Med Zones, addressed the theme "The industrial offer of Tangier Med Zones".
The Port of Tangier Med is a major player in port traffic, hosting sectors such as the automotive, aeronautical, textile, agro-industrial and logistics sectors within the Tangier Med Zones complex.
The Port of Tangier Med moves very important figures, with 162 billion tonnes of traffic, 9.6 million containers or 914 billion euros in turnover. Ali Achaach explained that the port is in the Top 20 world ports thanks in part to its strategic location in the Strait of Gibraltar, the second world transit point, with proximity to the European continent, only 14 kilometres away.
Tangier Med Zones is the conglomerate which manages all the activity around the Port of Tangier Med. It has 3,500 hectares of development for new projects for the region, houses 1,300 companies, connected to more than 180 ports in the world. The Port of Tangier Med is the leading port in the Mediterranean and in Africa, with a turnover of 14 billion euros.
In his speech, Chakir Bouatia, Director of Development at MEDZ, spoke on the subject of "MEDZ's global offer as a promoter of Industrial Zones offering investment opportunities in the Tangier-Tetouan-Al Hoceima Region".
MEDZ has been at the service of territorial development and regional economy in Morocco for more than 20 years, with 25 industrial activity zones and 1,500 installed clients, as Chakir Bouatia himself explained.
On theother hand, Mohammed Amin El Hajhouj, Director General of Innovative Energy and Efficiency (INEE), addressed the topic "INEE's comprehensive solutions focused on energy efficiency, renewable energies and decarbonisation in the industrial sector".
Morocco is making great efforts to reduce its carbon footprint. The objective is zero emission in carbon footprint by 2050, as Mohamed Amin El Hajhouj pointed out, who recalled that the energy transition is very important with the activity of INEE, which is a branch of the Moroccan Deposit and Management Fund, in order to implement a positioning strategy for energy transition commitments, with 2030 as a very important date in view of the organisation of the football World Cup in that year.
Mohammed Amin El Hajhouj pointed out that Morocco seeks to be a pioneer and to accompany other African countries in this process of decarbonisation and energy transition.
In fact, the INEE is supporting industry in the process of decarbonisation and energy transition with a fund of 250 million euros to support industrial activities with a view to achieving zero emissions and reducing the carbon footprint by 2030.
In other interventions, Hasnaa Soraya Melyani, head of the Innovative Entrepreneurship Department of the Digital Development Agency, spoke on the topic "The contribution of the Digital Development Agency to digital development in Morocco", Nafeh Agourram, president of the Order of Accounting Experts of the Tangier-Tetouan-Al Hoceima Region, addressed the topic "Taxation of investments in Morocco" and Ahd Zedgui, director of the northern network of the Crédit du Maroc Bank, addressed the topic "The financial offer for your projects".
Amal Boussouf, Director of the Official Spanish Chamber of Commerce in Tangier, closed the panel of speakers with a speech on "Cross-border collaboration between Spain and Morocco: strategies and initiatives of the Spanish Chamber of Commerce in Morocco-Tangier-Nador".
Amal Boussouf pointed out that relations in such an interconnected world are of vital importance for the development of Morocco and Spain. In this sense, the Chamber is a "key meeting point for Spanish and Moroccan companies that want to explore new avenues of business".
Amal Boussouf pointed out that the Moroccan market must be approached after an exhaustive study of establishment costs and investment incentives. In addition to paying attention to personal relations.
The director of the Official Spanish Chamber of Commerce in Tangier stressed the total willingness to advise and accompany investors by generating activities that can promote bilateral relations between Spain and Morocco
