Morocco is the entry of North Africa and aims to become the key country in North and West Africa. Like Senegal, Morocco is one of the most stable African countries. It is growing at a fast rate and a new middle class is now emerging. With a national average age of 29, Morocco is a young country: It provides a great labor force and it is a chance for foreigners who will find it easy to communicate with their Moroccan business partners.
Thanks to the various free trade agreements and customs dismantling (EU, United States, Turkey, Arab League), Morocco is able to target a potential market of more than one billion consumers in more than 55 countries.
75% of the world's phosphate reserves are Moroccan. A resource that the country has grown by making the Office Cherifien Phosphate (OCP) the first global company in the field. It holds onethird of the world market share of phosphate exports in all its forms. The office has also opened offices around the world (Paris, São Paulo, New Delhi, Buenos Aires, Istanbul, etc.), and has established several joint ventures, such as BSFT, a trading company based in Turkey.
Also, Morocco is at 2h flight from London and Paris. It is a great link between the European countries and the African continent.
Among the leading sectors of Morocco:
- NTIC : The sector of new information and communication technologies (ICT) constitutes a strategic axis of development put forward by the National Pact for Industrial Emergence.
- Infrastructures : Be it roads, ports, airports, railways or water, Morocco has ambitious investment plans for the future. Also, the Moroccan State is a major provider of activity
- Health: Driven by the modernization of infrastructure and growth in domestic demand for medical care, the health market is growing at a steady pace.
- Renewable energies: Morocco invests in renewable energies: solar and wind, two areas with high potential.
- Industry and subcontracting: Seven industrial sectors are considered strategic by the government, and therefore carriers for investors: automotive, offshoring, electronics, seafood processing, aeronautics, textile and leather, agribusiness. Industrial subcontracting, for its part, has acquired technologies, knowhow and equipment that allow it to be competitive and attractive at the international level.
- Waste treatment : Only 10% of household waste and 23% of industrial waste produced are recycled. The Ministry of the Environment wants to make waste treatment a pole of economic development.
Practical information about Morocco
- CAPITAL CITY : Rabat
- LEADER : Mohammed VI
- POPULATION : 35,74 millions
- AREA : 446550 km²
- LANGUAGES : Morocan Arabic, Berber languages,Hassaniya
- CHANGE: Dirham Marocain
- GDP GROWTH : 2.6 in 2019
- UNEMPLOYMENT : 9.1% in 2018
- TELEPHONE CODE : +212