Morocco is a market that offers excellent opportunities to international companies. The Maghreb country is an important commercial actor in the EMEA region, in addition to being considered the main gateway to the African continent.
During the last decade, the North African country has shown a process of modernization and democratization. In fact, Morocco’s economy is liberal, diversified and open.
The country enjoys a stable and permanent macroeconomic balance that promotes the best conditions to promote foreign investment.
In recent years, Morocco has clearly opted for the choice of openness and movement. This process has been carried out by signing various free trade agreements that have opened the door to a potential market of more than one billion consumers in 55 countries.
A modern country and open to foreign trade
The Moroccan government has carried out the implementation of ambitious sector reforms that have favored national competitiveness and the business environment of the country, as well as promoting job creation and strengthening of SMEs.
These changes have facilitated and accelerated many growth engines for foreign companies and, consequently, the local economy has experienced a very marked progression.
To make matters worse, Morocco has an infrastructure network adapted to international standards, its labor costs are competitive and it enjoys political and economic stability.
Therefore, opportunities occur in several sectors in an under-exploited market that offers real profitable business opportunities, either to identify business partners or to make investments.
Sectors of interest in Morocco
The Alawite country has accelerated the process of transformation and diversification of the economy, promoting new industries and sectors:
Agriculture in Morocco is an important sector for economic and social development.
In addition to contributing 15% of national GDP, the sector employs almost 40% of the population, generating more than 4 million jobs.
The Maghreb country has a remarkable potential in renewable energies to become a future energy power.
Energy production through renewable sources is expected to reach 42% in 2020, divided equally between solar, wind and hydroelectric.
Morocco has made the choice of development through industrialization. In fact, the sector represents almost 30% of national GDP.
With the launch of actions to accelerate the sector, the country intends to change the structure of its economy in the coming years.
Logistics represents about 6% of GDP. It is considered a very important sector for the economy, since it offers real opportunities for the North African country.
Today, a total of 56,000 companies in the sector employ about 200,000 people.
Morocco is characterized by having a great diversity of fishery resources covering almost 500 species, 60 of which are exploited.
The Moroccan fish processing and valuation industry occupies a privileged place in the national economy. It represents almost 70% of the catches of coastal fishing and exports around 85% of its production.
The telecommunications sector is a priority in the Moroccan economy for its potential contribution in terms of human and economic development.
The country hopes to become a regional center and African leader in the sector, in addition to promoting digital transformation.
Morocco is the first tourist destination in Africa, thanks, among other aspects, to its infrastructure, the richness of its cultural heritage and political stability.
Tourism is considered a strategic sector to support the economic development of the country in the coming years. Currently, it is the largest generator of foreign exchange in the country and the second largest contributor to national GDP.
Before finalizing, remember that to make the leap to the Moroccan market, foreign companies are always recommended to partner with a local specialist who acts as a facilitator, expert and connector in the new market.
In this context, Expandia International aims to be your trusted partner in a market that offers excellent business opportunities for foreign companies.