Casablanca, Morocco Investments
Casablanca is quickly becoming a financial powerhouse point in Morocco. There are several industrial companies relocating portions of plant operations to this area. Some of these are going one step further and moving the entire operation to Casablanca and setting up new headquarters here. Financial experts wishing to keep this industrial growth in a forward motion have called for a need to invest roughly 51.7 Moroccan Dirhams into the Casablanca economy.
The Regional Investment Centre Casablanca (CRI) is establishing a financial plan to invest this money into the Casablanca region within the next three years. The main sectors to receive initial funding are pegged to be the trade, service and industrial sectors. The CRI has pinpointed four developmental strategies through which the funding will be disbursed. These are as follows: The Emergence Plan, 2010 Vision for Morocco Tourism, The Great Projects and finally, Regional Niches.
Falling under the Great Projects section of funding is the areas of Ville Nouvelle, Zenata, Ville Nouvelle d’Anfa and Marina. This area will receive roughly 35 Billion Moroccan Dirhams funding through the Great Projects Strategy plan. Real estate development and urban transportation is the target sectors with an expectation of 105,000 jobs generated as a result.
Under the Emergence Plan, the aeronautics, information technology and business processing sectors will receive the necessary investment funding. These funds are expected to be in the range of 8.7 Billion Moroccan Dirhams. The 2010 Vision for Tourism will have investments totaling 8 Billion Moroccan Dirhams, which will be utilized to promote tourism to the Casablanca area. In order to do this, the CRI sees a need for 100,000 jobs to be added to the employment market.
The final investment phase will see funding go to the renewable energy, finance, health, Morocco tourism and trade franchising sectors. At the present time, the CRI is still researching these sectors to determine the proper amount of funding allocation. Once funding has been determined, an additional 40,000 jobs in these sectors will be needed to ensure all investment projects are enabled to be carried out as planned.
One reason Casablanca is such a financial powerhouse is from the sheer amount of economical growth within the last several years. Add to this a good infrastructure and stable supplies of materials and it is easy to see why investors are quickly flocking to the area on a local, regional and international level.
The four investment development strategies laid out by the CRI are in line with the overall Morocco investment planning. Each of these strategies aids to improve on Casablanca’s economic growth standpoint which will only serve to increase the overall economic picture of Morocco’s economics as well.
…more on Morocco Economics
by Sam Mitchell
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