July 21st marked the 6oth anniversary of relations between the Kingdom of Morocco and Japan. To build upon these ties the Japan Morocco Association organized a seminar regarding Japanese investment in Morocco attended by many company representatives from Japan.
The event was attended by the Moroccan Ambassador to Japan, H.E. Rachad Bouhlal, Chairperson of the Japan Morocco Association H.E. Mrs. Haruko Hirose, Mr. Koji Jinno Chief Investment Officer – International Finance Corporation (World Bank Group) and Mr. Tsutomu Nakagawa Deputy Director-General for International Trade Policy.
Presentations to potential investors were given by leading Automobile, Energy and travel companies that have set up in Morocco. This was due to automobile investment having meant that Morocco has become North Africa’s biggest exporter and producer of vehicles, with one Renault plant producing 400,000 a year. This makes it not only the biggest factory in North Africa but one of the biggest plants worldwide.
Heavy emphasis was placed on Morocco’s prime location next to European markets, its free trade deals with the E.U., its already existing infrastructure, and modern public transport system as well as its world class ranking for political stability and low-security concern. These attributes all made Morocco an attractive place to invest, with 60 Japanese companies already in Morocco. The main investment hubs were said to be Marrakesh, Casablanca, and Rabat.
Overall, from the number of attendees at the seminar and their reception to the presentations, it looks like Japan and Morocco’s relations are set to get even stronger in the coming years.