The UAE, is set to invest in Morocco. This investment is to take place under the leadership of King Mohammed VI, to support the socioeconomic development gaining momentum in Morocco’s southern provinces.
At the Moroccan-Emirati Business forum held in Laayoune, capital of the Moroccan Sahara, Al-Balushi made some encouraging statements. He said this forum reflects the excellent and long-standing fraternal relationship existing between the two countries. In addition, he noted that his country had invested over $20 billion in the kingdom over the past four decades. This investment went into various strategic sectors including renewable energies, transports, real estate and agriculture .
The southern provinces of Morocco are entering into a new phase under the leadership of King Mohammed VI. Therefore, the UAE will bring in major investments in support of the development process in Morocco underlined the UAE Consul General.
The Secretary General of the UAE’s International Investors Council (UAEIIC) Jamal Saif Al Jarwan also had something to say. “The Moroccan-Emirati economic cooperation has yielded positive results.” “The existing economic cooperation has brought growing trade exchanges despite adverse international juncture.”
The UAE is the first Arab investor in Morocco wherein more than 30 Emirati companies are operating, added Mr. Jarwan in his videoconference speech. Mr Jarwan stated that his country and the North African Kingdom share a common resolve to further enhance their “win-win” partnership.
Another dignitary who spoke at the forum, held under the theme: “A New Perspective, New Partnerships” was the President of the regional council of Laayoune-Sakia, El Hamra Sidi Hamdi Ould Errachid. He made mention of the opening of the UAE Consulate General in Laayoune (In November 2020) and how it had improved relations between both countries. This improved relations has given a new impetus to bilateral political, economic and commercial relations. This shows that indeed, the UAE is set to invest in Morocco.
This forum reflects the strong determination of this Arab country to support the development dynamics in the region, he stressed.