Said Drissi El Bouzaidi: "The New Investment Charter in Morocco offers many opportunities"

The Tangier-Tetouan-Al Hoceima region offers great investment opportunities in the north of Morocco. This was highlighted at the event "Doing Business in Tangier-Tetouan-Al Hoceima Region" which was held at the Port Authority of Valencia. A meeting that came to the Valencian city after having been held in previous editions in Casablanca, Tangier, Barcelona and Seville.

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.

Atalayar had the pleasure of talking to Said Drissi El Bouzaidi, General Consul of Morocco in Valencia, to analyse this meeting and the good business and investment opportunities that Spanish and Valencian entrepreneurs in particular can find in the region of Tangier-Tetouan-Al Hoceima.

Said Drissi El Bouzaidi, General Consul of Morocco in Valencia, thank you for your attention. It is important to hold this type of event to raise awareness, here in the Valencian Community and in the rest of Spain, of the opportunities offered by Morocco and, in this case, the Tangiers-Tetouan-Al Hoceima region...

Of course, this type of meeting is very important for both sides, both for the Valencian Community and for the region of northern Morocco. For the region of Tangiers-Tetouan-Al Hoceima it is essential, in order to promote and publicise the opportunities that this region has, the beneficial incentives, the advantages that it offers to Valencian businessmen, especially with the new Charter for Investment in Morocco. 

For the Community and for Valencian institutions, it is important to help their companies to internationalise towards Morocco, which is a gateway to the rest of Africa, knowing that Morocco has already achieved many successes at this level to access the African market. For businessmen, it is very important to get to know each other, make contacts, exchange ideas, sign agreements, seek strategic alliances between them, to take a step forward and make joint projects with their Moroccan counterparts.

As General Consul in the Valencian Community, what sectors would you recommend to Valencian businessmen to invest in Morocco?

At the moment, there is a new way for Moroccan investors to come here as well. There is a lot of similarity between the two sides, there are many sectors in common where a margin can be generated or where they can benefit from a margin of complementarity.

For example, the tourism sector. This sector has a lot of potential within the Community. Valencia has a lot of experience. In Morocco, the market still offers many opportunities, especially with the organisation of the World Cup in 2030. There are many opportunities for Valencian entrepreneurs. In the agri-food sector, in the automotive sector. 

Also the logistics sector; the Tangiers area is well known for its logistics system and infrastructures. In addition, we have other sectors that need to be promoted, such as renewable energies, where the Community of Valencia has a great deal of experience. Morocco is offering many advantages to develop this sector, knowing that Rabat is now beginning to transform all its energy towards green hydrogen, which is gaining a great status, which, in turn, is very attractive.

Consul, we should highlight the reform of the Investment Charter that you mentioned, the facilities that Morocco is now providing. The Tangiers-Tetouan-Al Hoceima region, through the Regional Investment Centre, what advantages does it offer to businessmen?

The new Investment Charter in Morocco offers many investment opportunities. The meeting that we have organised between the two communities has allowed us to present what this Charter for Investment in Morocco offers, such as financial and tax incentives, support incentives, advice and others.

This type of meeting gives us the opportunity to bring together, on the one hand, the institutions and, on the other, the businessmen so that they can find out what is happening at the business and institutional level in Morocco.

At the business level, it shows that Spain and Morocco are not only neighbours with historical ties, but also strategic partners in many sectors and in a very important international situation that merits the two countries strengthening this relationship.

Yes, indeed, the two countries are developing their economic relationship. A relationship that is becoming stronger and stronger, with great commercial growth. Every year it increases, which shows us that there is a lot to do in the future.

We are at a strategic midpoint between the two countries, which are looking for more connection, more connectivity, more ways of understanding and synergies between the two economies, to work in local and international markets and, above all, in Africa.

If I were a Spanish businessman, a potential investor, what would you say to me, how would you convince me to go to Morocco?

Before going to Morocco, for example, if you are an entrepreneur, you have to look for all the documentation, search the websites for all the information that is offered online, and then, if you are still interested, you have to go directly to the institutions that have this competence.

In the Regional Investment Centre, for example, you can find all the information on investment. There you will be accompanied through all the administrative formalities of setting up the company, which is now done in one day. In Morocco, a company can be set up administratively in just 24 hours. Afterwards, they carry out all the advice within the CRI, accompanying and advising you until the project is implemented and set up. Afterwards, there are other institutions that can be consulted to look for possibilities of collaboration and help as well. Any help and information that can be consulted is always beneficial.

Undoubtedly, information and this type of event are necessary to overcome the cliché and, above all, to have real information about the modernisation and progress that Morocco has and how good it is to invest there.

Yes, of course, it is a very important opportunity to find out what is happening, the development that Morocco is experiencing, the opportunities that exist, and also the holding of events such as this one, where we can hear some of the expected testimonies of personalities from institutions such as Chambers of Commerce, Regional Centres and Valencian and Spanish businessmen who have invested in Morocco, especially in the northern area, and who are success stories. And vice versa, there are also Moroccan businessmen who have come here, who are now working with Valencian companies, who are obtaining great agreements and quite successful results. It is very important to tell these stories to encourage others to take a step forward.