Structuring Projects Driving Growth in Morocco, Under HM the King’s Impetus

Rabat - Since the accession of HM King Mohammed VI, May God assist Him, to the Throne, Morocco is undergoing a development dynamic placing the well-being of Moroccan citizens at the heart of its objectives, while making them its main driving force, through value-added structuring projects that symbolize an ambitious and proactive Kingdom.Thus, the Kingdom has become a role model at the regional and continental levels. In fact, the Tanger-Med Port, the Dakhla Atlantic Port, the High-speed rail, the ultramodern airports, a highway network of more than 2,000 kilometers as well as other large-scale projects illustrate, today, the emergence of Morocco, which stands out in its immediate regional environment and far beyond.Thanks to the many Royal Initiatives, Morocco has become an open-sky site where strategic projects are developed with a double-aim: improving Moroccans' standard of living and laying the foundation of a competitive economy.These projects equipped the country with an ultramodern infrastructur e and turned it into an attractive destination for foreign investments. In a U.S. State Department report on the global investment climate, published on July 17, 2024, Morocco's strengths and ambitions are highlighted, as a country that 'actively encourages and facilitates' foreign investment.The report states that the Kingdom is a 'regional business hub' and a gateway to Africa.Analysts and international research centers concur, in this vein, that Morocco should no longer envy the major emerging economies, where investors find the best conditions for the success of their projects. This is borne out, they note, by the number of projects set up in the Kingdom, particularly in buoyant sectors such as aeronautics and automobiles.Managing Director of the IMF, Kristalina Georgieva, praised this dynamic of the national economy, based on a vision of openness.Morocco is a 'brilliant' and edifying example of Africa's great potential, she noted, expressing her confidence in Morocco's 'bright future.'World Ban k Group's President, Ajay Banga, shares this same view, seeing the country's growth as a means of promoting the living conditions of Moroccans. Thanks to the Sovereign's far-sighted leadership, Morocco has strengthened its growth through major projects designed to diversify its economy and reinforce its competitiveness, he explains.The Kingdom's breakthroughs in the automotive industry have piqued the interest of analysts in major financial markets. This Moroccan success story is attracting the admiration and, above all, the interest of operators from countries as far afield as China.Backed by its geostrategic position and know-how, Morocco is spearheading this industry on the African continent. Today, the Kingdom tops the list of vehicle-producing countries in Africa, overtaking South Africa.This strengthened position testifies to Morocco's efforts to attract foreign investment, develop state-of-the-art infrastructure and implement business-friendly policies.Paolo von Schirach, President of the Globa l Policy Institute (GPI) in Washington, D.C., asserts that the 'enormous' investments and large-scale projects launched in the Kingdom illustrate the Royal Will to propel Morocco to higher levels of development.Source: Agence Marocaine De Presse