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Tuesday, May 21, 2024

Doing Business In Tangier-Tetouan-Al Hoceima: Jalal Benhayoun highlights the strengths and potential of his region

The first stage of Doing Business In Tangier-Tétouan-Al Hoceima began on March 15, 2022, in Casablanca, around investment opportunities in the region and the service offer for investors and project leaders.

As part of an economic and social development strategy focused on encouraging investment, particularly private and productive, encouraged by His Majesty King Mohammed VI since his accession to the throne, Doing Business In Tangier-Tetouan-Al Hoceima is a meeting to unearth business opportunities and inquire about the region’s territorial offer for investment, as well as all the incentive and support mechanisms offered by the Centre’s ecosystem Regional Investment (CRI)

To this end, the Director General of CRI-TTA, Jalal Benhayoun during his speech, highlighted the strengths and potential of the region. “With its positioning on the Strait of Gibraltar, at the crossroads of continents, markets and world routes, the Tangier-Tetouan-Al Hoceima region has succeeded in the bet of a profound economic transformation which continues to boost its growth and development. For two decades now, the region’s economy has gained momentum driven by courageous reforms and major projects, in particular the strengthening of infrastructure while relying on solid fundamentals and the ambitions of legitimate emergence of our country. This has enabled it to continue to play the role of locomotive in the attractiveness of foreign direct investment, particularly industrial and logistics with high added value and the establishment of multinational and national companies in its economic and industrial zones.

the Director General of CRI-TTA; underlined that the region has become the 2nd industrial pole of the Kingdom and has contributed to strengthening the positioning of our country in new global businesses such as the automotive industry, logistics and renewable energies. It has become one of the most productive regions of added value to the national economy thanks to structuring projects such as the large industrial and integrated logistics platform Tanger Med.

Jalal Benhayoun added in this sense that “the region has accelerated its pace of growth also through other structuring projects. These include, among others, “Tangier-Métropole”, the integrated economic and urban development program of Tetouan and “Al Hoceima, Manarat Al Moutawassit”… The arrival of the high-speed train has also contributed, alongside of the motorway, to the influence of the region and its synergy with the rest of the territories of the kingdom, connecting it with the other national industrial and economic poles which now benefit from its various assets and the competitive advantages it offers”.

For the Director General of CRI-TTA, the Tangier-Tetouan-Al Hoceima region has actively contributed to the influence of Morocco, as the first industrial and port hub in Africa, connecting the continent to the rest of the world, since in quality as a locomotive for the economic development of the Kingdom, the region has seduced and attracted large international groups to house foreign investments with high added value, such as the Renault factory and the related ecosystem; profoundly transforming the balance of exports of the Kingdom, with the propulsion of the automobile as the first exporting sector since 2014, and this, in a wake in less than twenty years.

In terms of energy, the region also contributes to reducing the Kingdom’s bill, thanks to the various wind farms which represent 13% of the installed power in the Kingdom. It contributes to achieving our country’s ambitions in the field of renewable energies, in particular that of reaching 52% in the electricity mix by 2025 with major development projects for new wind and photovoltaic farms. In addition to this, the economic activity zones and industrial acceleration zones recently developed or under development, such as the Cité Mohammed VI Tanger Tech, which constitutes a real anchoring zone for technological projects and high added value.

In addition to this industrial development, the Tangier – Tetouan – Al Hoceima region and because of its geographical position, its diversity and its cultural richness and its renowned accommodation infrastructure, offers a pleasant setting for all tourist segments that do not concern not only seaside tourism, but also business, ecological and cultural tourism. The agriculture, maritime fishing and trade sectors are also historical sectors in the region with promising development prospects at all scales,” added Director Benhayoun.

Hosted by senior regional and national officials and economic players, this meeting will be of great use to all those who wish to open up to new horizons and take advantage of the region’s advantages as an economic hub of international competitiveness.

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