Rabat, April 28th,2007 (WAM) -- The UAE is the largest Arab investor in Morocco with total investment portfolio of US$ 16 billion, said Minister in Charge of Relations With Parliament Mohamed Saad El Alami.
''UAE companies are investing US$16 billion in Morocco in various sectors from real estate, tourism, services, agriculture and housing to industry,'' the Moroccan Minister told reporters on the occasion of the recent opening of offices of the UAE's Al Qudra Holding Company.
Highlighting the distinguished bilateral relations, the Minister expected the UAE firms to win contracts and projects worth over US$ 20 billion this year.
He said the UAE firms were executing mega signature projects with Emmar Properties alone has a series of projects in the tune of US$ 12 billion.
He estimated the value of foreign direct investment in Morocco at US$ 5 billion a year in addition to capital inflow via the Casablanca stock market which stood at us$ 15 billion.
