The Moroccan investment development agency has opened an office in Spain
The Moroccan investment development agency has opened an office in Madrid to encourage Spanish businessmen to invest in Morocco.
Fathallah Sijelmassi, the director of the agency said that the opening of the office aims at proximity, that is to say getting closer to the Spanish business arena. Recalling that over 1000 companies are currently based in Morocco, Sijelmassi said that Morocco’s government believes that strengthening the economy, the infrastructural improvements and incentives to foreign investors would attract more foreign investors to the country.
Highlighting Moroccan business opportunities and incentives, he stressed that Spanish companies can produce more cheaply in Morocco and it constitutes an alternative for increasing their market share. He said that Spain would become one of the largest direct investors in Morocco in the next few years.
According to the Telegraph report, Property values in Morocco are continuing to grow as a result of foreign investment. Property values in some parts of Morocco have risen by as much as 20% this year. The publication also stated that house prices in areas such as Marrakesh were “soaring” due to the influx of overseas property buyers.
Morocco’s popularity as a holiday destination was also highlighted by the newspaper, as this means that rental accommodation is in high demand among tourists.
Commenting on the country, the Telegraph said: “Morocco is just about as exotic as you can get on a short-haul flight from Britain.”
Popularity: 7% [?]
