The Tangier-Tetouan-Al Hoceima region hosts the world's investors
Jalal Benhayoun, Director General of the Regional Investment Centre of Tangier-Tetouan-Al Hoceima, stressed the importance of directing investments towards productive sectors that generate jobs; recalling the success of the "Doing Business" organised by the CRI in Barcelona and reflecting the strong strategic partnership that links the region of Tangier-Tetouan-Al Hoceima with Catalonia.
"The real vision aims to support the dynamics of the Moroccan economy and is based on the implementation of reforms at the level of state policy in order to develop and encourage investment and adapt it to the requirements of the New Development Model and institutional, economic, social, environmental and technological changes at national and international level," he added.
Great investment options and connectivity
In this regard, the framework law 03 22 was issued as the Investment Charter in December 2022 to activate the basic support system and the special subsidy system dedicated to strategic investment projects. "The aim of this law is to increase private investment to two-thirds of the overall investment by 2035, as explained by the CEO of the CRI-TTA2," Benhayoun said.
"The reform of the investment system aims to consolidate the attractiveness of the Moroccan economy for domestic and foreign investment, as well as to strengthen the country's position at regional and continental level. Thanks to advanced regionalisation and administrative decentralisation among other reforms, the region was able to approve 69% of the 750 projects presented with a total of 4 billion euros," he remarked.
The director general of the CRI pointed out that "the prefecture of Mdiq Fnideq enjoys, thanks to the enlightened vision of King Mohammed VI, an advanced infrastructure and hotel units that present the best tourist offers, in addition to the new industrial zone Haidara with a total of imports estimated at 10 billion euros".
Jalal Benhayoun stressed that "the challenge, today, is to consolidate acquisitions, achieve sustainable development and cushion the seasonal tourist character of the area which has the potential to diversify its economic activities and open up to industrialisation".
Ahd Zadgui, regional director of the Crédit du Maroc Bank, explained the financing offer dedicated to productive investment in the Tangier-Tetouan-Al Hoceima region; stressing that the objective is to transform the city of Tetouan into a second locomotive of the North after Tangier in terms of industry.
"We believe in the potential of the region and operators are fortunate to work in the northern region," he said, noting that Crédit du Maroc, installed in Morocco since 1929, is ready to accompany the dynamics of developing the region.
Amine el Harti, the director of the pole of economic development and territorial supply stressed that the CRI of Tangier-Tetouan-Al Hoceima is the first actor to contact for three reasons:
- - It is the only window open to investors that accompanies them in all administrative procedures to create and manage their businesses in the region.
- - It is the best interlocutor to guide them to benefit from the grants and subsidies available.
- - It is the best mediator to solve the different problems with public administrations and institutions.
El Harti explained how the region, whose surface area does not exceed 16,000Km2, has become the second national pole with a contribution of 16.6% in the industrial GDP and the third pole for its economic strength with a contribution of 10.5% in the global GDP. The economic dynamism means that the regional unemployment rate is down to 9.4% compared to the national rate of 13%.
"Tangier-Tetouan-Al Hoceima is distinguished by the diversity of the industrial fabric, especially the automotive industry; so that it is the first producer of cars at the national level with 54%; as well as participating in the global economic dynamics with 82% of trade operations aimed at export," added Amine El Harti, explaining that thanks to Tangier Med Morocco has access to a consumer market with 2.3 billion inhabitants in the world.
Morocco is connected to the tip of Europe in less than five days, to America in less than 12 days and to Asia in less than 20 days. This advantage multiplies the investment opportunities offered by the Alawi kingdom to foreign investors. This is why many American, European and Chinese companies have set up in the Tangiers-Tetouan-Al Hoceima region, Amine El Harti explained.
The head of territorial supply concluded by listing, among other things, the region's potential:
- Leading region in environmental conservation through its early commitment to solar and wind renewable energies.
- Tangier Med, the largest port in Africa and the Mediterranean and one of the four best in the world with a capacity of 9 million containers.
- A Med Hub logistics area containing high quality warehouses where 25 of the best national and international logistics companies are already installed.
- 18 industrial zones distributed in the different provinces and others in the process of being set up.
- Tangier Tech, a promising project to be built on a surface area of 2,167 hectares.
- An industrial acceleration zone of 947 hectares within Tangier Tech for productive sectors such as automotive, electronics, renewable energies and pharmaceuticals.
- World-class infrastructure: airports, motorways and high-speed train.
- 5 ports of entertainment.
- The Loukkos Agropolis.
- Tetouan Shore, the first business park dedicated to companies in the service outsourcing sector.
- A competent workforce, professionally trained, multilingual and ready to work.
For his part, Hassan Bouzidi, vice-president of the CGEM Tangier-Tetouan-Al Hoceima, presented the Territory Development Challenge competition, betting on the participation of a large number of project holders and investors in the second edition 2023.
Bouzidi explained the six themes of interest: territorial animation and support for public spaces, sports industry, ecotourism, blue economy, green economy, industry and logistics. On this occasion, he recalled the first edition in which 20 countries from all over the world.
Hicham Bouziane, Director of Planning and Regional Development at the Council of the Tangier-Tetouan-Al Hoceima Region, shed light on the Northern Fund for Development and Investment (NORDEV) aimed at all economic actors and strategic partners, from the banking sector to civil society, including elected officials and the private sector.
In line with the government's political strategy and the New Development Model, NORDEV's mission is to support and accompany businesses in order to invest in the North, i.e. SMEs, cooperatives, micro-enterprises and the self-employed.
It should be noted that NORDEV's contribution does not exceed 30% for large companies and requires the creation of at least 100 stable jobs. If the company benefits from a state subsidy of up to 30%, in this case NORDEV does not exceed 20%.
