Thailand Overseas Investment Center

Morocco: ‘Saudis form best investment partners’

RIYADH - PENINSULA TIMES - Moroccan Minister of Trade, Investment and Digital Economy Hafeeth Al-Alami said his country considers Saudi investors some of the best partners. He added Morocco welcomes Saudi partners and is keen to remove all obstacles against them.

His comments were made recently as he heads a delegation visiting the Kingdom. He was speaking in the Riyadh Chamber of Trade and Industry, Wednesday night in the presence of chamber president Abdulrahman Al-Zamel and head of the Saudi-Moraccan Business Council Mohammad Al-Hamedi and members of the board.

The Minister recommended also that a Saudi delegation of businessmen to visit Morocco in the next few weeks and meet ministers and officials there and see for themselves the scale of development in the country and the new investment climate that is taking place.

Al-Almi said Morocco supports every investment project over $11 million by adding 20 percent of its own capital and gives other incentives to foreign investors. He added the government allows the foreign investor to bring in and take out his capital and profits totally and without any restrictions.

Al-Zamel also talked frankly about the obstacles facing investors.  He said it is not accepted for trade exchange between the Kingdom and Morocco to stay at SR10-11 million per year and with low Moroccan investments in the Kingdom.

He also said he was surprised that the sea line project between Jeddah and Casablanca and related to the Maritime Transport Company and in moving Saudi good to European markets, is facing obstacles.

Al-Hamedi talked about the obstacles facing investments in Morocco especially that related to the maritime company which is a Moroccan-Saudi private sector venture at $100 million according to Al-Hayat.

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CR:http://www.peninsulatimes.org/2015/01/15/morocco-saudis-form-best-investment-partners/