02INDIA CALLING

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MOROCCO CALLING15

Morocco is fast becoming the preferred investment destination in Africa. Kindly comment ?The political will and the long-term vision of the King of Morocco, His Majesty Mohammed VI, since His Enthronement in 1999, are two important elements that contributed to transform Morocco to a propitious land of investment. A vision that focuses on the development of the infrastructure, mainly the highways, port and airport, automotive and aeronautic industries, renewable energies such as the huge solar energy complex in Ouarzazate, financial platforms such as Casablanca Finance City and many other projects. In order to optimize, modernize and enhance the local production and sectors, Morocco launched sectorial strategies and initiatives such as the Plan Maroc Vert (the Green Morocco Plan) for the development of the agriculture sector, the Halieutis Plan for fisheries, the Vision 2020 for tourism, Maroc Digital 2020 Strategy for digital economy and the Emergence Plan for industry, and others.

In terms of protecting foreign investors, which is a very sensitive topic for investors, Morocco has a very attractive legal framework that encourages foreign investments and develops the confidence of foreign investors, who are treated equally as nationals, by providing them strong guarantees and incentives to protect and develop their investment. One of those incentives is the possibility to transfer their capitals and benefits outside Morocco without any restrictions. The Advanced Status that Morocco enjoys with the European Union and the Free Trade Agreements with the United States of America as well as with many African and Arab countries and Turkey are among other elements that attract foreign investors to settle and produce in Morocco.

Morocco is also part to several international Agreements aiming at the protection of investments and the Moroccan economic and financial system is fully in line with the international financial standards. In this regard, it is important to remind that the Governor of the Central Bank of the Kingdom of Morocco has been recently nominated as one of the best governors of central banks in the world. Furthermore, the image of the Moroccan economic and financial system at the international level has allowed it to be the first African country to host, in 2021, the annual meetings of the World Bank Group and the International Monetary Fund during the last four decades. Morocco is the most attractive economy for investment in the African continent, according to the Africa Investment Index 2018 (AII). Based on the AII arguments, the main reason behind this score is mainly the size of the economy of Morocco, its very favorable business environment. It’s also thanks to its sustained economic growth, strategic geographic location, increased Foreign Direct Investment (FDI) and the levels of its external debt.

According to recent data from the Moroccan Foreign Exchange Office, Foreign Direct Investments have increased by 41.5% at the end of October 2018 compared

to the same period a year ago. According to Forbes annual ranking of the best countries for doing business in 2018, Morocco is the first investment hub in the Maghreb and North Africa.

For all these reasons, Morocco is recognized today as one of the best emerging markets for foreign investors in Africa.

For economic progress, political stability of the region is a must. Please comment ?

Of course, economic sustainable growth and development status are strongly linked to the political stability, but also to the economic and social ones. Attracting foreign investors is not a simple task for all countries around the world that are competing for this objective. Investments are not only attracted by laws and incentives, in terms of taxes and others, but also, and mainly, by the political stability that the country enjoys in particular. Thanks to its more than twelve centuries history, Morocco is a solid and stable country today in the eyes of its people and foreign tourists and investors. Unfortunately, because of political instability in some African countries during the last few decades, foreign investments in Africa were very low and it was very difficult to gain the confidence of the foreign capitals easily.

However, as an African country that has confidence in its home continent, Morocco has never stopped developing its economic relations and ties with the majority of the African countries, as part of a South-South cooperation based on a win-win vision. Today’s figures reveal that Morocco is the second largest African investor in the Continent and the first one in the West African region. It is from this perspective that Morocco is open to develop joint initiatives and investment with India towards Africa, the two countries enjoying a positive image in the continent.

Belonging also to the Arab world, Morocco was fortunate due to important reforms undertaken by His Majesty the King and be preserved from the turmoil that affected many brotherly countries. This long sustainable stability gave investors more confidence to invest in Morocco and to continue to reinforce their investments.

Morocco and India have been enjoying a long standing and strong cooperation in the fertilizer sector. Morocco is one of the world largest suppliers of phosphate and its derivatives and India is currently the biggest partner of Morocco in this field. It is to be underlined here that supplying fertilizers to India was a political decision to accompany it to ensure its food security and not a commercially driven motivation. It is, therefore, a source of satisfaction to see a steady development of investment from both countries and to have developed successful joint ventures in this sector.

In 1997, a joint venture between Morocco and India in the fertilizer sector, called Indo Maroc Phosphore (IMACID), was established. The large part of this joint

venture’s production of phosphoric acid is exported to India. On the other hand, the national company of phosphate in Morocco, (Office Chérifien des Phosphates - OCP), has invested in India since 2002 in Paradeep Phosphates Limited (PPL), which is now a leading company in the production and marketing of Phosphatic fertilizers. In 2016, another joint venture was announced between OCP and Kribhco to develop a large-scale greenfiled NPK fertilizer project at in Andha Pradesh.

However, the trade between the two countries is not limited to the phosphate sector. Other products are also present on the Morocco-India trade list. India exports to Morocco transport equipment, chemical products, agricultural implements, manufactured metals, spices, petroleum products, pharmaceuticals, medicinal products, plastics, synthetic fiber, cotton yarn and textile products. While the other Moroccan products exported to India are metallic ores and metal scrap, semi-finished products and inorganic chemicals.

Unfortunately, the economic and commercial relations between the two countries have not yet reached the same level as the political ones. The annual average of the bilateral trade during the last decade is about US$.1.5 billion only, which is very low compared to their respective potentials and to the bilateral trade of each of the two countries with the rest of the world.

Furthermore, many Indian companies are present in Morocco and investing in many fields, among them are TATA Motors, Ranbaxy, Sterling and Wilson, Adani Group and PepsiCo India, to name but these, and many delegations from the main Indian business associations, such as ASSOCHAM, CII and FICCI, visit regularly Morocco to explore the trade and investment opportunities and to interact with their Moroccan counterparts.

What role in your opinion can India play in the development of Africa?

India has a long history with Africa. A history characterized by a common struggle against colonization.

Several factors could enable India to play a very important role in the development of Africa. India has achieved an unprecedented technological revolution and major records in medicine and health, in telecommunications, in higher education, in public transport, in electrification, in renewable energy, in e-commerce but especially in the management of the social problems of a population of about 1.2 billion, a close number to the totality of the population of the African countries.

In addition, India has several private companies that are actively operating in Africa in different sectors such as agribusiness, engineering, construction, film distribution, cement, plastic and ceramic manufacturing, marketing, pharmaceuticals and telecommunications. India has also an important diaspora of about 3 million Indians

Morocco has a very attractive legal framework that encourages foreign investments and develops the confidence of foreign investors, who are treated equally as nationals, by providing them strong guarantees and incentives to protect and develop their investment.H.E. Mohamed Maliki, Ambassador of Morocco to India in an interview with Renu Malhotra...

TOURISM to be engine of growth: Envoy

TOURISM to be engine of growth: Envoy

Business Chronicle Afroasian

in Africa, which has already established strong bonds of friendship and trust with the African peoples.

Rich in minerals, natural resources and agricultural products, Africa is a continent with enormous growth potential and a market of about 1.2 billion consumers. To support the development and economic growth of Africa and India could reinforce their investments and help to develop African countries in terms of infrastructure, telecommunication and energy projects as well as socio-economic programs in the fields of education, skills, health, sanitation and electrification.

Moreover, Indian public and private investments in Africa could contribute to the creation of new jobs’ opportunities for the African youth and become a source of technology transfer and innovation.

During the last 20 years, Africa has changed a lot. Several African countries are increasingly stable and, thanks to their stability and natural potential, are attracting more foreign tourists and investments from all over the world. Having a rich and common history with Africa, India can also contribute in promoting the new face of Africa to Indian tourists who travel around the globe every year in millions.

India’s decision to open of 18 new Diplomatic Missions in the African continent by 2021, as announced in July 2018 by His Excellency the Prime Minister, Mr. Narendra Modi, will certainly help in strengthening the political, economic and commercial relations between India and Africa.

Your country is one of the fastest growing economy in Africa and India is emerging in similar position in Asia. What could be areas of cooperation?

First of all, it is important to mention that Morocco and India have established their diplomatic relations in 1957, one year after the independence of Morocco.

Today, the two countries maintain excellent relations in various fields. These relations have been further consolidated especially after the memorable meeting between His Majesty the King Mohammed VI and His Excellency the Indian Prime Minister, Mr. Narendra Modi, during the historic visit of His Majesty to India on the

sidelines of His participation in the 3rd Summit of the India-Africa Forum, held in New Delhi in October 2015.

During that meeting, the leaders of both countries expressed the common will to raise the level of the bilateral relations to a Strategic Partnership and to enhance them with a stronger ambition and a renewed horizon. The discussions revealed a convergence of views on the strategic place occupied by the development of the African continent and the importance of stability, security and sustainable economic and social development in Africa.

In fact, India, thanks to its geographic location could be the gateway for Morocco to the rest of Asia. Morocco, on the other hand, due to its strategic location at the crossroad of Africa, Europe and the Arab world could be a platform for India towards these regions, especially Africa.

To talk about the areas of cooperation between Morocco and India, it is important to recall that the relations between the two countries were initiated in 1960 by the signing of a trade Agreement.

At present, the two countries are bound by a respected number of Agreements in different areas of cooperation from which it can be mentioned the Merchant Shipping and Related Maritime Agreement, the Air Services Agreement, the Cultural Exchange Program Agreement for the period 2016-2019, the Memorandum of Understanding for the training of diplomats of the two countries, to name but a few sectors.

The cooperation between the two countries has also materialized through the exchange of successful practices and experiences such as the Indian experience of the unique identification system AADHAAR that attracted the attention of Moroccan institutions.

Furthermore, the Head of Government of the Kingdom of Morocco and the then Vice President of the Republic of India have proceeded, in Morocco in June 2016, to the official creation of the Moroccan-Indian Chamber of Commerce and Industry. A structure dedicated to promoting exchanges and cooperation between the two countries, particularly through the strengthening of economic and trade relations between Rabat and New Delhi.

Additionally, the Morocco-India Business Forum has

been organized in Casablanca in Morocco, in April 2017, in which participated a large delegation of Indian business persons.

An important Moroccan delegation led by the Minister of Equipment, Transport, Logistics and Water, who was at that time also in charge of the Ministry of Health, H.E. Mr. Abdelkader Amara, visited India in December 2017. During this visit, a series of Agreements and MoUs was signed between the two countries establishing a cooperation based on training, exchange of expertise, scientific research and exchange in several fields such as railways, health and telemedicine, road and port infrastructures, water resources and the maritime sector.

The field of geological infrastructure, exploration and research and mining is also in the center of the two countries cooperation. Cooperation in this area between the two countries was strengthened by the visit to India, in April 2018, of the Minister of Energy, Mines and Sustainable Development of Morocco, H.E Mr. Aziz RABBAH, during which Memoranda of Understanding in the field of Mines and Geology were signed between the two countries.

The new dynamic between Morocco and India is not limited to that. It is marking a stable and continuous cooperation. Take, for example, the period between the months of September and November 2018. A period of 3 months during which 3 Ministers and 2 senior Ministerial delegations from Morocco visited India. Important Ministerial visits from both sides are scheduled in the near future.

In September 2018, the Minister of Tourism, Air Transport, Handicraft and Social Economy of the Kingdom of Morocco, H.E. Mr. Mohammed Sajid, paid an official visit to India. During this visit, an updated Air Services Agreement was signed between the two countries, which will also be an enabler for greater air connectivity between them. A MoU has been also signed between India Tourism Development Corporation (ITDC), the PSU under the aegis of Ministry of Tourism and the Moroccan Agency for Tourism Development (SMIT) for strengthening cooperation in the field of tourism.

In addition, as mentioned before, this visit was the occasion of the launching of the regional office of the

Moroccan National Tourist Office (ONMT) in New Delhi. During the same month, the Minister Delegate of the Administration of the National Defense of the Kingdom of Morocco, H.E. Mr. Abdeltif Loudyi visited India. During this visit, two memoranda of Understanding were signed between the two countries. The first sets a general framework for cooperation on cyber security. The second one aims to establish a cooperation in the field of space activities including space science, practical applications of space technologies, training and transfer of know how. During the same month, a senior delegation from the Ministry of Finances of Morocco visited India for the negotiation of a bilateral investment Agreement on promotion and protection of investments between the two countries.

Moreover, the two countries have signed a series of Agreements during the visit to India, in November 2018, of the Minister of Justice of the Kingdom of Morocco, H.E. Mohamed Auajjar. These Agreements include an agreement on Mutual Legal Assistance in Criminal Matters, an Agreement on Legal and Judicial Cooperation in Civil and Commercial Matters as well as an Extradition Agreement.

All these Agreements, which are covering several areas of cooperation, will certainly be reinforced by others and will constitute the pillars for this strategic partnership decided by the leaders of the two friendly countries. They all constitute a strong legal framework which give a real and concrete content to the strategic partnership the Leaders of the two countries aspire to conclude.

What is Morocco’s vision 2020?

Vision 2020 is the Moroccan strategy aiming at developing tourism in Morocco. It was presented for the first time to His Majesty King Mohammed VI on 30th November 2010 in Marrakech, the first tourist destination of the Kingdom.

This vision was developed, in accordance with the High Royal guidelines, according to a real approach of consultation with the public and private partners. Its main objective is to increase the size of the tourism sector so that Morocco can be among the most popular tourist destinations in the world. It is a vision committed

to make tourism one of the engines of economic, social and cultural development of Morocco. Through the 2020 Vision, Morocco aims to be one of the top 20 global destinations in the near future and to establish itself as a point of reference for the Mediterranean region in terms of sustainable development. In terms of quantified objectives, this 2020 Vision should in principle make it possible to double the size of the tourism sector, in terms of arrivals, accommodation capacity, job creation and to increase tourism revenues to 140 billion Dirhams in 2020 and, above all, to increase by two points the part of tourism GDP in the national GDP to reach nearly 150 billion Dirhams ( about 16.5Billion Dollars).

Thanks to this strategy, Morocco has surpassed 10 million tourists annually for four consecutive years putting it in first place, in terms of tourist’s arrivals, ahead of several African countries. Always keeping in mind the nightmare of the 2008-2015 period, marked by a financial crisis in countries source of tourists, Moroccan tourism operators are therefore thinking optimistically that 2019 will be a much more fruitful year than the previous ones.

According to figures from the Moroccan Tourism Observatory, the main source markets of tourists for the Kingdom continue to show significant growth, especially Germany (+ 15%), Netherlands (+ 9%), Italy (+ 9%) ) and Spain (+ 8%). In addition, the emerging tourism markets for Morocco maintain their rising trend: China (+ 173%), Japan (+ 39%), South Korea (+ 28%), the United States (+ 30%) and Brazil (+ 57%).

What the readers of this article will notice now is that India is not among the countries just mentioned. Morocco is really aware that India is a fast growing tourists market, both in-bond and out bond, as well as a very important source of tourists especially the luxury segment.

For that reason, several measures were taken by Morocco to attract Indian tourists and facilitate their discovery of Morocco. In this regard, His Excellency Mohammed Sajid, Minister of Tourism, Air Transport, Handicraft and Social Economy of the Kingdom of Morocco paid an official visit to India last September. This visit will remain a memorable moment as it is marking the launching of the first regional office of the Moroccan National Tourist Office (ONMT) in South Asia, here in New Delhi.

From its side, the Embassy of the Kingdom of Morocco in New Delhi is focusing, since two years now, on giving more importance to the tourism sector in order to develop and enhance the ties between Morocco and India and their peoples. Starting this year, 2018, the Embassy of the Kingdom of Morocco in New Delhi opted for an outsourcing visa service in collaboration with the company “Cox & Kings Global Services (CKGS)” in order to shorten the visa processing time and enable Indian tourists and businessmen to save their time while preparing their trip to Morocco.

Since the official launching of this new procedure on the 23rd of January 2018, eleven (11) offices have been opened in different cities of India and they are now collecting visa applications for Morocco with no obligation for the applicants to be present at the Embassy office in New Delhi.

All these efforts are contributing to increase the number of Indian tourists traveling to Morocco. After monitoring this new procedure for roughly ten (10) months, the Embassy has effectively observed that the number of the delivered visas has increased by at least 20%.

Moreover, the number of Indian tourists who visited Morocco has increased by 6% from 2016 to 2017. From 13.411 tourists to 14.198 which remains below the existing potential and the political ambitions. That’s why Morocco is aiming to attract more than 40.000 Indian tourists by the end of 2019.

From it’s side, the Morocco Mission in India is planning to allocate significant human and logistic resources in order to satisfy continuously and expeditiously the increasing number of the visa applications. In the meantime, the Embassy of the Kingdom of Morocco in New Delhi is focusing on introducing “Morocco” destination and the Moroccan culture to the Indian people by participating in cultural, tourism and gastronomy festivals and events across India.

All these represent a new dynamic that will surely develop tourism and the people to people connect between the two countries as well as create real opportunities between Moroccan and Indian business communities.

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MOROCCO CALLING17

n Cultural Exchange Programme (CEP) for 2016-2019 between India and Morocco signed in Rabat (31 May 2016)

n MoU between the Foreign Service Institute, Ministry of External affairs, India and the Moroccan Academy for Diplomatic Studies, Ministry of Foreign Affairs and Cooperation, Kingdom of Morocco (31 May 2016)

n MoU between Indian Council for Cultural Relations and Mohammed V University on the Establishment of ICCR Chair for Hindi Language (27 February 2017)

n MoU between Indian Council for Cultural Relations and Mohammed V University on the Establishment of ICCR Chair of Indian Studies (27 February 2017)

n MoU between the Indian Council for World Affairs (ICWA), India and the Royal Institute for Strategic Studies (IRES), Morocco on Cooperation in Institutional Relations (25 April 2017)

n MoU between Prasar Bharati, India and Societe Nationale de Radiodiffusion et de Television (SNRT), Morocco (26 May 2017)

n MoU between the Ministry of Health and Family Welfare of the Government of the Republic of India and the Ministry of Health of the Kingdom of Morocco on Cooperation in the field of Health (14 December 2017)

n MoU between the Government of the Republic of India and the Government of the Kingdom of Morocco on Cooperation in the field of Water Resources(14 December 2017)

n Cooperation Agreement between Indian Railways (IR) Moroccan National Railways Office (ONCF) (14 December 2017)

n Agreement to establish Cooperation between Indian Maritime University (IMU) and the Higher Institute of Maritime Studies (ISEM), Morocco (14 December 2017)

n Framework Agreement for Cooperation in Training between the Indian Maritime University of the Republic of India and the National Ports Agency (Port Training Institute) of the Kingdom of Morocco (14 December 2017)

n Cooperation Framework Agreement between the Institute of Training in Engines and Road Maintenance (IFEER) under the Ministry of Equipment, Transport, Logistics and Water of the Kingdom of Morocco and the Indian Academy of Highway Engineers (IAHE) under the Ministry of Road Transport & Highways of the Republic of India (14 December 2017)

n MoU between Marrakech Mohamed VI University Hospital, Morocco and Jawaharlal Institute of Postgraduate Medical Education & Research (JIPMER) for Telemedicine collaboration (14 December 2017)

n Agreement on Scientific and Technical Cooperation between the Council of Scientific and Industrial Research (CSIR), India and The National Centre for Scientific and Technical Research (CNRST), Morocco (21 February 2018)

n MoU on Cooperation between the Ministry of Law & Justice of the Republic of India and the Ministry of Justice of the Kingdom of Morocco (02 April 2018)

n MoU for Cooperation in the field of Renewable Energy (10 April 2018)

n MoU in the field of Mining and Geology (11 April 2018)

n Work Plan for the Years 2018-20 between the Indian Council of Agricultural Research (ICAR) of the Republic of India and the Ministry of Agriculture, Marine Fisheries, Rural Development and Waters and Forests of the Kingdom of Morocco under the MoU on Cooperation in the field of Agricultural Research & Education (04 May 2018)

n MoU on Cooperation between the Institute for Defence Studies and Analyses (IDSA), New Delhi and Moroccan Centre for Strategic Studies (CMES), Rabat, Morocco (05 September 2018)

n MoU on Cooperation between Moroccan Agency for Tourism Development (SMIT) and India Tourism Development Corporation (ITDC) (17 September 2018)

n Air Services Agreement (19 September 2018)

n MoU between National Small Industries Corporation (NSIC), Republic of India and the National Agency for the Promotion of Small and Medium Sized Enterprises (Maroc PME) on Cooperation in the field of Micro, Small and Medium Enterprises between India and Morocco (25 September 2018)

n MoU between the Government of Republic of India and Government of the Kingdom of Morocco for Cooperation in Peaceful Uses of Outer Space (25 September 2018)

n MoU between the Indian Computer Emergency Response Team (CERT-In), Ministry of Electronics and Information Technology and the Moroccan Computer

Emergency Response Team (ma-CERT), National Defence Administration of the Kingdom of Morocco, on Cooperation in the area of Cyber Security (25 September 2018)

n Agreement on Mutual Legal Assistance in Criminal Matters (12 November 2018)

n Agreement on Legal and Judicial Cooperation in Civil and Commercial matters including the service of Summons, Judicial documents, Letters of Request and Execution of Judgment and Arbitral Awards (12 November 2018)

n Joint Declaration of Intent between National Informatics Centre under Ministry of Electronics and Information Technology of the Republic of India and the Ministry of Justice of the Kingdom of Morocco on Cooperation in the field of Modernization and Use of Information Technology (12 November 2018)

n Extradition Agreement between the Government of the Republic of India and the Government of the Kingdom of Morocco (13 November 2018)

n Memorandum of Understanding Between The Government of the Republic of India And The Government of the Kingdom of Morocco To Facilitate Mutual Recognition of Academic Qualifications (22 January 2019)

n Two Academic Conventions signed between the National School of Architecture of Marrakech and the Indian Technology Institute of Gujarat ( 19 January 2019).

LIST OF AGREEMENTS SIGNED BETWEEN MOROCCO AND INDIA SINCE 2016

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to work with the Indian companies in the joint ventures in Morocco and in Africa. Mr. Aziz Rabbah, Minister of Energy during his visit to India in April 2018 said “Morocco signed two Memorandum of Understanding with the Ministry of Energy and the Ministry of Mining. Morocco welcomes Indian companies to invest in Moroccan mining sector and OCP developed a strategic partnership in India.” (Morocco in Focus, 2018). Besides, the National Institute for Solar Energy of India has developed solar energy solution in Morocco and prepared the plan for a venture in Africa. Moroccan-Indian Energy Center of Excellence (CoE) for Africa has been set up.

During my visit to Rabat, Casablanca and TanTan in August 2018 Ihave seen many investment avenues in shipping , construction, packaging of Sardine fish and tourism. Moroccan vision of sports projects of 31 million Dirhams is the new initiative to develop the Olympian skill training among the national and international sportspersons.

These projects refer to the building of international swimming pool facilities at Sidi Youssef Ben Ali and nearby Askjour fields under the green environment which will enhance the stamina of sports professionals and attract the international investors to work in this field. The Moroccan government has emphasised that youth should focus his or her energy in their personal endevour of sports that will bring name and fame to Moroccans in the field of sports and nurture their body, mind and energy in the development of self, society and the country.

Moroccan-Indian Cultural Affinities The rich documented history of cultural affinities written by Ibn Battuta about Morocco and India is known in the world. Both the countries have initiated their diverse plans in strengthening cultural connection between them. Mr. Mohammed Sajid, Minister of Tourism and Social harmony inaugurated a branch of the Tourism Promotion Office in New Delhi. It will connect Moroccan-Indian cuisine, food, culture, theatre, writers, poets, ghazal, sufiana and Qawwali singers and Bollywood and build people to people connect.

The Bollywood Stars have shot movies at different locations in Morocco and promoted similarities of both countries. The life styles of seven different groups of Sahara tribal communities can be compared to Gujjar bakkarwal tribe, Banjaras, Meena and other tribal communities of India that is explained through pictures as well. The cultural affinities of Morocco are evidentin the emerging tourism industry and it aims to attract more Indian tourists by 2019.

It is time to intensify the relationship between Morocco and India by sharing their indigenous technologies, mutual transfer of technology and learning from each other. All the different sectors of economic opportunities need connectivity that will work for the cohesive economic development. The cultural tribal richness of plains, deserts, mountains, sea shores and valleys of both countries should be ferther strengthened in a sustained manner.

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MOROCCO CALLING19

Morocco, located in Maghreb, North West Africa, under the leadership of King Mohammed VI has become one of the favourite destination for investors with the creation of a number of

economic investment opportunities in all the sectors. With 16 international airports, two shoreline Ports

and 38 ports of which thirteen are dedicated to foreign trade, development of urban infrastructure in terms of Highways, high-speed trains and 4G network connectivity has been growing rapidly.

The Industrial Acceleration Plan (IAP) 2014-2020 of Morocco has drawn up a road map to create 500,000 jobs in the industry in which half of them would be through foreign investment. The IAP is the cornerstone of the Industrial Cluster Strategy and developing clusters as a key to modernize and integrate each industry under this plan. The government has adopted the supportive measures and announced the industrial fund of 20 billion MAD, allotted 1000 hectares land exclusively for the industrial development having dedicated financial products, coordinated training programs and developing import substitution.

The IAP strategy is to raise 23% of the GDP share in the industry for value addition. The cross-functional aims of the IAP is to rebalance the trade accounts by prompting exports and substituting local sourcing to imports including informal economy and work for inclusive development.

Morocco has made tremendous strides in chemical industries, pharmaceutical, renewable sector such as plastic recycling sector, fiber optic components manufacturing and automotive industry along with the export of phosphate used in the agriculture fertilizer. It is today focusing on the building of international standard universities and developing world class education hub. Besides, the IAP focuses on the agriculture sector under Green Morocco Plan, tourism under 2020, mining sector, liquefied natural gas, IT plan under 2025 , renewable energy plan and Logistics Plan under 2030 . The foreign economic policy of Morocco under globalization has adopted a rational and pragmatic approach of openness in trade and commerce. This openness will meet the needs of young people in terms of work, employability and better social life on the one hand and on the other hand generate abundant opportunities in digital industry, renewable energy, health, tourism and automotive industry.

Economic Opportunities for Indian InvestorsThe economic opportunities for Indian investors under the IAP focuses on Automotive, Textile, Pharmaceuticals, Offshoring, Leather, Chemicals, Mechanical and Metalworking industries, Building materials, Agrifood and Phosphate industries.The key investment incentives highlights Hassan II Fund, Industrial Development and Investment Fund and Free Zone Status. The investor eligibility criteria is the investment of 10 million MAD and investment of five million MAD in capital goods

(excluding import fee and taxes) to benefit the Hassan II Fund. This package includes the aid of up to 15% of the total amount of investment capped at 30 million MAD covering purchasing or renting of real estate and professional buildings and acquisition of industrial equipment. The investor eligibility criteria under the Industrial Development and Investment Fund consists of 100 million MAD, creation of 250 direct permanent jobs set up in a priority area, bound for technology transfer in a timebound manner and adopting environmental protection. ‘This package includes aid of up to 5% of the total amount of the investment and supports up to 20% of the acquisition costs and support for up to 20% of the professional training costs.The investor eligibility criteria under Free Zone Status requires the export turnover of more than 85%. This offer includes the full exemption from corporate tax for the first five years, followed by a rate capped at 8.75% for the next 20 years, custom fee exemptions on imported goods and products, VAT exemption on imported goods and products, VAT on imported goods and exemption from license fee and urban tax during 15 years’ (Morocco in Focus, 2018).

Morocco is considered as a platform for Indian investors to project their activities in sub-Saharan Africa due to more than one thousand (1000) bilateral Agreements, deep knowledge of African markets and a strong Moroccan banking sector present in Africa. Moroccan leading companies working in Africa (such as Maroc Telecom, Saham, Attijariwafa Bank, BMCE Bank, OCP Bank, Royal Air Maroc and others) are interested

Being Located in North Africa has its benefits. Morocco is certainly

making the most of it’s location. The country is situated close to Europe and Arab countries and Middle East making of it a gateway to Africa. Morocco has experienced an average growth of 4.4% in its GDP over the last decade and a half making it a stable and trustworthy economy and favorable investment destination. Trade Agreements have seen them strengthen trade ties with the EU, United States and the Arab world. The boost and stability in economy has proven well, as Morocco was voted one of the friendliest countries in the world, duty free access to consumers and 51% of Moroccans have access to Internet (not what people generally think of when talking about an African country).

With a proactive FDI policy combined with a skilled labor force and good transportation channels to and from the African continent, Morocco has seen the most amount of

FDI in North Africa by investors from EU and US. Industries providing some of the most promising investment opportunities are:n Renewable Energyn Tourism

n Logisticsn Financen Fishingn Retailn ICTn Automotive

Morocco: Fast tracking Progress

Prof. Suresh Kumar,Head, Department of African Studies, Delhi University

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By way of comparison, do you know that between 1956 and 1999, 515 agreements were signed, whereas 949 agreements have been signed since 2000-in other words, almost twice as many! During this period I, personally, was keen to give fresh impetus to this action, by making more visits to various African sub-regions. On each of the 46 visits I paid to 25 African countries, numerous agreements were signed involving the public as well as the private sector.

Speech of His Majesty Mohammed VI, the King of Morocco at the 28th African Union Summit

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Casablanca

CASABLANCA OF HOLLYWOOD FAME is Morocco’s chief port and

one of the largest financial centers on the continent. A busting city, Casablanca

is not only the economic and business center of Moroco but also enriched with

cultural magnificence.

The High Atlas

HIGH ATLAS, also called the Grand Atlas Mountains is a mountain range in central

Morocco. The High Atlas rises in the west at the Atlantic Ocean and stretches in an

eastern direction to the Moroccan-Algerian border. It’s a must visit.

Asilah

NOW A POPULAR SEASIDE TOWN, Asilah has glorious history dating back to 1500 BC when it was a trade center. Ancient forts, pristine beaches, whitewashed buildings surrounded by the restored medina completes this picturesque town.

Rabat

THE CAPITAL OF MOROCCO. A top tourist destination, Rabat’s new portion of the city offers tourists’ wide boulevards and outdoor cafes, though most travellers like to visit the old town with its fortified walls. The Kasbah des Oudaias is a must on your places to visit list.

Fez

FEZ, frozen in time, is seeped in Andalusian and African architecture coupled with

rich traditional handicraft trades. Home to one of the best conserved historic towns

of the Arab-Muslim world...Fez is truly a soulful destination.

A TRUE CITY OF HISTORY. Meknes is home to distinctive Islamic and European architectural styles with breathtaking views of ancient monuments, mosques, hammams and gardens. The city is also famous for its nine gates that provide entry into the city, each adorned with intricate tile work in arabesque patterns.

Meknes

Marrakesh

ONE OF AFRICA’S most popular destinations also known as the Red City due to its sandstone buildings, Marrakesh is a city with beautiful old architecture and courtyards of a variety of trees. A walk through the medina is the best way to sample its charm. Snake charmers, haggling in local markets and eateries, colorful textiles, aromatic spices are some of the unique treasures that make this city special.

RESEMBLING A SWISS MOUNTAIN VILLAGE, Ifrane is a peaceful city located in the Atlas Mountains. It is a perfect escape into a world of lush gardens and parks providing peace and tranquility during the hot summer months.

Ifrane

Magnificient MoroccoMagnificient Morocco

Business Chronicle Afroasian— Compiled by Mayank Malhotra

The most visited country in Africa, Morocco bordering the Atlantic Ocean and the Mediterranean Sea, is an

adventure into this old African nation with most stunning scenery with the sea, Atlas mountains and desert.

Visiting Morocco is like wandering off into a land of fantasy filled coastal villages, rugged mountainside towns and fairy tale forts. With an ancient long history, this country is a beautiful amalgamation of African and Arabic culture. Places you must visit: