Foreign investments in Morocco reached MAD 20.2 billion by May 2006, said the Minister Delegate in charge of General Economic Affairs, Rachid Talbi El Alami.
Speaking at the oral questions session in the House of Advisors, Talbi Alami underlined that this figure was registered before the conclusion of the investment agreements with the Emirati groups "Dubai Holding" and "Emaar".
For its part, the group "Fadesa" intends to invest a total of MAD 3.3 billion in order to build a tourist complex in Marrakech, as well as projects in other parts of the Kingdom, he added.
The minister also pointed out that the total volume of direct foreign investments in 2005 rose to MAD 28 billion, stressing that this figure illustrates the efforts Morocco has made to promote foreign investments.
The minister also recalled the setting-up, on Sept. 28, 2005, of the national commission for investment, whose role is to ease the procedures relating to investment.
The French weekly Le Point said on Thursday that France was responsible for half the Euro 10 billion invested in Morocco between 2001 and 2005.
"French companies -38 of the CAC 40 companies- are present in Morocco," wrote the weekly in an article titled "Morocco: the boom of French investments."
Le Point also stressed that Morocco has defined its major development axes, mainly tourism, industrial sub-contracting, outsourcing, the food industry, textiles and handicrafts.
© Morocco Times 2006
