Maximizing its potential in renewable energy and the automobile industry, Morocco is poised to solidify its position as a hub for sustainability and innovation.Â
Inside its labyrinthine medieval cities and bustling urban centers filled with colorful souqs that vie for the attention of its visitors, Morocco also holds a distinct allure for investment.
Advertisement The North African country encourages foreign investment through its six special economic zones, implementing incentives that range from tax exemptions to subsidies for investment-related expenses.
Since the early 2000s, Morocco has introduced three national industrial policies that supported the financing of physical infrastructures in key sectors and the development of the manufacturing sector.
One of these policies, the nation’s Industrial Development and Investment Fund, has supported the modernization and development of the industrial sector’s capacity to substitute imported products….
Morocco has been successful in automobile production and aerospace manufacturing.
Today, automotives stand out as one of the highest export value products for the country….In tandem with its automotive industry success, Morocco is becoming an important player in the production of low-carbon energy to mitigate climate change and build resilience against volatile and expensive energy prices.
As one of the first countries in Africa to align economic development with environmental protection, Morocco is proactively engaged in solar and wind energy production, with its Noor-Ouarzazate concentrated solar power complex being the largest in the world…
Today, the spotlight is on the competitiveness of Morocco’s green energy.
In a world transitioning to decarbonization, Moroccan production gains a distinct competitive advantage….
Internationally, Morocco benefits from opportunities arising in the reconfiguration of global value chains.
As manufacturers in Europe broaden their supplier base to diminish supply chain risks, Morocco’s proximity to the continent and its macroeconomic performance have made the country a destination of choice for numerous multinationals to set up plants…
Source : forbesafrica.com/africa-undiscovered/2024/02/01/driving-sustainable-innovation-iin-north-africa/
