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Tuesday, May 21, 2024

Intensive Activities of Minister Fettah Alaoui During London City Week

 Minister of Economy and Finance, Nadia Fettah Alaoui, attended the City Week, held from 24 to 26 April in London.

Fettah Alaoui took part in a workshop focused on “Adapting the Moroccan Economy to Meet the Threat of Climate Change” and highlighted Morocco’s sustained efforts towards transitioning to green energy under the visionary leadership of His Majesty the King.

With over 15 years of commitment to renewable energy, Morocco now boasts one of the greenest energy mixes in Africa, she said, noting that the share of renewable energy in electricity production is increasing, currently at 40% and that the energy transition will have to accelerate further due to the global energy context.

The Minister also stressed that the Kingdom seeks to develop a “Morocco offer” covering the whole value chain of the green hydrogen sector, through the implementation of the national roadmap for the production of green hydrogen and its derivatives for the period 2023-2050.

In addition, and on the sidelines of her participation in the London City Week, the Minister met with high officials in the financial and economic regulatory sectors, notably Lord Dominic Johnson of Laiston CBE, Minister of State for Investment, Andrew Bailey, the Governor of the Bank of England, Nick O’Donohoe, CEO of British International Investment, and met with leading figures of the British financial and investment ecosystem, including key partners of Morocco.

The meetings were an opportunity to highlight the strength of the lasting partnership between Morocco and the United Kingdom and the excellent level of bilateral relations and cooperation in various fields.

The Minister highlighted Morocco’s assets as a “strategic” and “reliable” partner, adding that the Kingdom should be considered by the United Kingdom as its natural ally in the region and on the continent.

Morocco is a continental leader in the business climate and could serve as a hub for the UK, particularly towards Africa, leveraging the Tanger Med port infrastructures and other ports that are under construction such as the Dakhla port, she said.

For their part, Lord Dominic Johnson of Lainston CBE and Nick O’Donohoe emphasized the willingness of the United Kingdom to expand investment in Morocco and strengthen economic and commercial exchanges, taking into account the strategic position of the Kingdom and its privileged economic relations.

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