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Analysis

Up to standard: Working with the EU to harmonise laws and regulations
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In 2008 the EU upgraded its Association Agreement with Morocco to “advanced status”, granting the kingdom most of the commercial advantages of being part of the EU but without participation in the bloc’s political institutions. The kingdom now is undertaking the painstaking work of harmonising its laws and regulations with EU requirements, which should help further boost foreign direct investment…

Analysis

Wafa Assurance: Insurance
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THE COMPANY: The leading insurance company in Morocco, Wafa Assurance had a 22.1% market share and a client base of 1.5m at the end of 2011. The insurer enjoys a large retail network composed of 191 direct agents and 171 independent brokers. It provides a wide offering of products ranging from life insurance to automobile, savings and business insurance. Wafa Assurance is a subsidiary of the…

Analysis

Picking up speed: Generous incentives and demographic changes mean new prospects
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After several years of negotiations and preparation, Morocco is set to see a significant jump in car production following the inauguration of French carmaker Renault’s new Melloussa plant in February 2012. Spanning 280 ha, this €1bn plant is the largest automotive factory in North Africa and in its first 10 months of operation churned out over 100,000 cars. Production is due to increase in…

Analysis

Young and restless: The government aims to target a persistently high unemployment rate
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Official statistics place unemployment in Morocco at 9.1%. However, these measures do not take into account seasonal workers, those who have given up looking for work or the informal working economy, making it difficult to accurately gauge the employment situation. Nevertheless, seven out of every 10 households in Morocco say finding work is a preoccupation, according to a survey by the High Commission…

Analysis

Taking off: International aerospace firms are looking to set up operations locally
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In the past 10 years, Morocco has emerged as an increasingly competitive base for aeronautic production. The kingdom’s aeronautic industry began to take off in earnest in 2001 when US manufacturer Boeing established a small operation preparing cables for Boeing 737 jets in coordination with the French electrical wiring producer Labinal SA. According to press reports at the time, Boeing managers…

Analysis

A long wait: The new mining code should bring about big changes
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For at least 20 years, there has been talk about how modern laws would turn Morocco’s mining industry around. This now looks increasingly like reality. Authorities say the kingdom’s 62-year-old mining code could finally be retired in 2013. Industry players and authorities agree that its longevity has stifled investment in a kingdom historically famed for its soil’s riches. The Phoenicians,…

Analysis

Connect and conquer: Boosting logistics is central to long-term sector improvement
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The development of the logistics sector is the final step in the government’s 10-year plan to develop Morocco’s transport sector. Morocco has invested heavily in transport infrastructure since 2003, and it is now poised to reap the benefits from expanded airport and maritime infrastructure, a more comprehensive highway network and increased rail capacity. Authorities are now turning to the…

Analysis

Cash crops: Fruit and vegetable output stands to raise sector exports
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Of the crops set to be developed under the national agricultural strategy, Green Morocco Plan (Plan Maroc Vert, PMV), fruit and vegetables offer considerable opportunities for growth. In 2011, the cultivation of garden vegetables such as cucumbers, onions and tomatoes accounted for 3% of agricultural land, and yet they provide roughly 13% of sector GDP. Fruit such as strawberries, raspberries,…

Analysis

In a strong position: Phosphates continue to lead the sector
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Like most sectors, the mining industry is sensitive to changing economic conditions, with its overall performance fluctuating significantly as demand from China and elsewhere tightens and regulatory burdens become more onerous. But despite this short-term volatility, the trend for phosphate prices is likely to be more stable in the longer run due to positive long-term fundamentals. Phosphates…

Analysis

A bright future: Tapping domestic potential to become a regional pioneer in solar power
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tium for a €400bn project launched in 2009 to establish solar plants across North Africa, and projected to produce 125 GWh of electricity by 2050. Financial issues for solar energy mirror difficulties faced by renewable energies in general within the context of a global economic slowdown, with international investment in clean energy falling to €41.6bn in third-quarter 2012, down 20% year-on-year.…