The Tangiers-Tetouan-Al Hoceima region, a breeding ground open to national and foreign investments
After Rabat and Marrakech, the cycle of regional meetings for investment landed in Tangier in order to highlight the potential of the Tangier-Tetouan-Al Hoceima (TTA) region in terms of business opportunities in the various economic sectors, thus contributing to the socio-economic promotion of the Kingdom of Morocco.
The Bank of Africa, in partnership with the Moroccan Agency for the Development of Investment and Exports (AMDIE) and the Regional Investment Council, continues its mission of accompanying companies with strong growth potential in their dynamism of change and investment.
In this regard, the CEO of the Bank of Africa, Khalid Nasr, said that the banking institution has launched a series of devices dedicated to accompanying the bearers of investment projects by presenting them with inclusive financing solutions tailored according to the type of each company, whether a self-employed, a cooperative, an SME or a large company.
"Thanks to its subsidiaries and partners, the bank offers an integrated global offer that includes appropriate financing and support for projects approved by NORDEV," added the CEO, underlining the ambitious partnership between the private and public sectors in Morocco, which by 2035 will be one third public and two thirds private in terms of investment.
"By 2023, almost 8 billion euros will have been invested to finance 40 projects in the northern region, which has become one of the lungs of the Moroccan economy in strategic sectors such as logistics, mobility, renewable energy and others," said Khalid Nasr, highlighting the initiatives that have strengthened the attractiveness of the region, such as the Mohammed VI Tangier Tech City and the NORDEV Investment Fund.
For the CEO of Bank of Africa, "investment is the only way to create jobs in Morocco and the only tool that allows for sustainable growth throughout the country".
The President of the Regional Council of the TTA region, Omar Moro, described the economic context that requires building a prosperous, modern, sustainable, green, equitable and "Smart" Morocco; consolidating cohesion and social inclusion that ensures social peace and sustainable development in an increasingly less stable global framework.
The national strategy aims to implement measures and mechanisms adjusted at regional and local level in the area of support and financing of productive projects, in order to reduce territorial disparity and achieve balance between the twelve regions of Morocco, as explained by the regional president.
With a budget of 1 billion euros spread over five years, the Regional Council of TTA launched its regional development plan (PDR) focused on supporting investments in the region in partnership with the private sector over the period 2023-2027.
For his part, Ali Seddiki, Director General of AMDIE, highlighted the agency's objective today, which is to catalyse private investment as a key factor in job creation; highlighting the particularity of the region as the showcase of the Kingdom of Morocco with an exceptional infrastructure such as the most important port in both Africa and the Mediterranean basin, Tangier Med.
"We have all the real instructions that can guide us: the New Development Model which determines the nature of investments worthy of support and which seeks an equitable and balanced development. Therefore, we must create a positive shock in accompanying national and international investors. Another compass that guides us in this direction is the New Competitive Investment Charter which constitutes a colossal project of investment dynamization whose devices are working, reflected in the figures recorded so far," clarified the CEO of the Moroccan Agency for Investment Development and Exports.
The CEO of the Regional Investment Centre, Jalal Benhayoun, explained how the CRI TTA converges its efforts with the various public and private economic actors in the TTA region to offer investors and project holders the necessary support, contacts and expertise to promote the regional offer in the field of investment and export.
"Tangier-Tetouan-Al Hoceima has achieved, over two decades, profound transformations that have constantly improved the growth of its economy and the development of its attractiveness on a global scale," said Benhayoun, mentioning that the region has undertaken a courageous dynamic by launching major infrastructure reforms.
Thanks to the quality of its infrastructure and the maturity of its ecosystem, the region has become the second economic hub of the Kingdom, being one of the most productive in terms of added value for the national economy, in addition to playing the role of locomotive in attracting foreign direct investments for the whole country, especially in industry, logistics and tourism sectors, said the director general of the TTA region's LRC.
Benhayoun listed the various economic development strategies implemented in the region such as the economic and urban development programme Tangier Métropole, the Tetouan programme and the Al Hoceima Manarat Al Moutawassit programme. "The region benefits from large-scale facilities such as the high-speed train, the first line of its kind in Africa, the CHU, the largest real hospital campus in North Africa and the best sports city in Africa," added Jalal Benhayoun.
In the field of energy, the TTA region, according to the director of the CRI, is a pioneer in renewable energy thanks to its wind energy potential, with five wind farms already representing approximately 13% of the installed power in Morocco.
Recently, it has a private photovoltaic park installed on an area of 72 hectares as another energy development project in the region. Added to these achievements are the economic acceleration zones such as Tangier Tech for projects focused on new technology with strong added value.
The regional representative of the Investment Centre recalled that "alongside the developed infrastructure, the region enjoys a skilled workforce thanks to quality, professional and diversified training offers covering automotive, electronics, aeronautics, logistics, renewable energy and textiles thanks to the Engineering and Trade Schools in addition to the French and Spanish foreign schools located in the area which train professionals to access the sectors of industry, agriculture, aquaculture, sea fishing, trade and tourism being at the heart of the region's economy".
Fulfilling its missions of accompaniment and support, the CRI launched earlier this year the Manar Al Moustatmir platform, available in four languages (Arabic, French, Spanish and English), which aims to structure and coordinate collective action, optimise the accompaniment process and improve the region's expertise in order to support investors throughout the life cycle of their business.
"In the nine months of 2023, more than 650 projects have been approved for a total of 4 billion euros and have generated 80,000 jobs. In this line, the TTA region continues to rank second nationally in terms of business creation with more than 9,000 companies created until 31 August 2023 with good prospects for the future," concluded Benhayoun announcing the new 2023 edition of the international innovation competition "Territory Development Challenge".
The president of the CGEM in the TTA region, Adil Rais, argued that "Tangier has to transform itself for the second time from the textile sector to the most technological sectors due to the change of the consumer nature, the decrease of carbon levels, in addition to the changes that the world knows today"; insisting on the importance of launching a regional competition to improve investments, working fast and with clarity in order to overcome the obstacles.
"The Charter is fundamental, but it is not enough, and the Fund is fundamental, but it is not enough, the simplification of procedures and deadlines is the key to attracting foreign direct investment on the one hand and national and regional investment on the other hand," said the representative of the Moroccan employers' association CGEM.
In this context, he also stressed that everything must be accompanied by a simplification of legislation and procedures to make them clear, quick and simple. In fact, the administrations must simplify their processes and formalities, as the tax authorities have already begun to do by facilitating their procedures.
"Morocco is today in competition with the whole world, not only with the less developed countries, but with the currently developed countries such as Portugal, Spain and others," said the head of the CGEM, clarifying that "with the ease with which things are done is better because the most important thing is to create more jobs".
In the panel on investment opportunities in the Tangier-Tetouan-Al Hoceima region, Youssef Tber, director of investment for exports at AMDIE, presented the new Investment Charter, which has the strategic objective of creating 55,000 jobs between 2022 and 2026 and reaching a total private investment of 55 billion euros by 2026.
The Investment Charter's 2023-2026 roadmap sets out four pillars: simplifying investment and business, improving competitiveness, fostering entrepreneurship and innovation, and strengthening ethics, integrity and corruption prevention. It also sets the eligibility criteria at the creation of 50 stable jobs and a total project amount estimated at EUR 5 million. Eligible projects will benefit from three types of common sectoral and territorial premiums that can be combined up to a maximum of 30%, explained the AMDIE representative.
Zouhair Banjelloun, the president of the ASMEX regional delegation in the TTA region, urged to popularise the notion of exporting because there are many companies with great potential that are afraid to embark on this path of internationalisation. ASMEX is interested in encouraging not only large companies, but also very small companies and cooperatives to export.
"Given the lack of knowledge and experience in exporting and in order to materialise our work, we have launched the 'doing business' cycle to guarantee these companies the necessary training to explore the export market, in addition to having access to financing and the preparation of the export dossier, a beneficial programme for all types of companies operating in the Kingdom and aspiring to export their products," remarked the ASMEX representative.
Rabiah El Khamlichi, director general of services of NORDEV, presented the Fund supported by the actors of the region (CRI, Regional Council, Wilaya ...) which contributes to the implementation of promotion strategies and job creation through investment and territorial attractiveness. With a budget of 100 million euros and a roadmap 2022-2027, the Northern Region Development Fund (NORDEV) targets large companies, SMEs, small and medium-sized enterprises, cooperatives and the self-employed. As part of its task of supporting businesses, attracting investment and stimulating employment, NORDEV supports these businesses and contributes to their financing if they meet its eligibility criteria.
Amine Anagam, head of the Tangier Business Centre TAMWILKOM, stressed that this new economic actor has mobilised all its experience and know-how to be "the right arm of the State based on the guarantee and co-financing of project-carrying and exporting companies".
In his speech, the regional representative of TAMWILKOM mentioned two new products: Daman tasdir as a specific mechanism for foreign markets, and a new support tool for all companies that factor their invoices in the framework of pre-payment of invoices presented with the help and support of TAMWILKOM. "In terms of co-financing, we are present in the green economy and tourism, focusing on women entrepreneurs and Moroccans living abroad," added the same manager.
In partnership with TAMWILKOM, Anas Zarmouni, Director of Market-Business Pole at the Bank of Africa, pointed out that organising events such as the cycle of regional meetings play an important role in sharing experiences and encouraging investments; shedding light on the opportunities offered by the very promising region of Tangier-Tetouan-Al Hoceima.
"We are a Moroccan bank that had endowed the region with a certain autonomy for decision-making, including four business centres, five groups and 65 banking agencies that ensure to accompany and advise investors to give them the best choice with the present devices for financing, co-financing, investment, taking into account the NORDEV grant," concluded the speaker on behalf of the Bank of Africa.