The Tangiers-Tetouan-Al Hoceima Regional Investment Centre and the International Finance Corporation sign a strategic partnership agreement
The partnership, financed by the Swiss State Secretariat for Economic Affairs, will strengthen the competitiveness and economic development of the northern region of Morocco
On 17 March in Tangiers, Yassine Tazi, the general manager of the Tangiers-Tétouan-Al Hoceima Regional Investment Centre (CRITTA), and David Tinel, the regional representative of the International Finance Corporation in the Maghreb, signed a strategic partnership that will promote the competitiveness and economic development of the region.
Specific technical assistance
The Swiss State Secretariat for Economic Affairs (SECO) is the organisation funding this partnership, based on international best practice, which will provide the Regional Investment Centre with specific technical assistance to accelerate the economic transformation of the region.
According to the joint communiqué from the two organisations, the agreement represents a milestone in the collaboration between the Regional Investment Centre and the International Finance Corporation.
In the words of the general manager of the CRITTA, Yassine Tazi, ‘this association marks a milestone in positioning the region as a first-rate economic centre. Thanks to the experience of the International Finance Corporation and the support of the Swiss State Secretariat for Economic Affairs, we are creating the conditions for sustainable and competitive development’.
Tazi also explained that ‘together with the Wilaya [the regional government of Tangier-Tetouan-Al Hoceima], the Regional Council and local economic actors, we are supporting companies in their transition towards decarbonisation and their adaptation to international standards, in particular through the creation of certified eco-parks. This initiative will strengthen the region's attractiveness and its integration into global value chains, while encouraging responsible investment and sustainable growth.
Sustainable development
The signing ceremony was attended by the main players in the regional economic ecosystem, highlighting local synergies and a shared vision in favour of sustainable development.
The signing was followed by the presentation of a report by the International Finance Corporation on the adoption of the green industrial park framework, prepared during the preparatory phase of the partnership.
Within the framework of this cooperation, the IFC is supporting CRITTA in establishing the fundamental bases that will facilitate the decarbonisation of industrial zones, which is essential to reinforce their sustainability and efficiency, attract foreign investment, boost the competitiveness of local companies' exports and stimulate job creation.
According to the statement issued by both organisations, this cooperation mechanism will also strengthen the promotion of investments in certain ecologically strategic sectors, such as logistics and the manufacture of electric vehicles.
For his part, David Tinel, IFC regional representative for the Maghreb, pointed out that the transition to a sustainable economy represents a unique opportunity for the region to attract more private investment and become a green and strategic industrial hub between Europe and Africa: ‘Our partnership with the Tangier-Tetouan-Al Hoceima Regional Investment Centre will enable the region to strengthen its economic dynamism and accelerate its growth, affirming the strategic role of Regional Investment Centres as engines of the local economy’.
Françoise Salamé Guex, Head of Cooperation and Economic Development at the Swiss Embassy, attended the signing ceremony on behalf of the Swiss Confederation. The diplomat stated that Switzerland is pleased to strengthen the business climate in the Tangier-Tetouan-Al Hoceima region, establishing a favourable framework for sustainable investment, with the aim of reinforcing industrial competitiveness and stimulating the creation of skilled jobs, bringing prosperity to the region and to the country as a whole.
IFC support for Morocco
The signing of the association agreement with CRITTA is the second collaboration that the International Finance Corporation has set up with Morocco, following the first agreement signed with the Regional Investment Centre of Marrakech-Safi.
The objective of these associations is to stimulate regional investment, reinforce competitiveness and promote inclusive economic growth.
The International Finance Corporation was created in 1956, as part of the World Bank Group, to boost economic development by investing in commercial, for-profit projects to reduce poverty and promote development. As they point out on their website, ‘we connect economic development with humanitarian needs to generate real progress for the people and places that need it most’.
