Rabat (WAM) Officials, businessmen and economists from the United Arab Emirates and Morocco discussed in the Moroccan capital Rabat the economic landscape and investment opportunities in Morocco through a business forum organized by the Investopia Global Investment Platform, which was launched by the UAE government in September 2021.
Rabat constituted the second station in the series of global Investopia dialogues, which launched its first stop outside the UAE last May, and was hosted by the Indian capital, New Delhi. The forum discussed innovative and sustainable investment opportunities in a number of important economic sectors related to green growth, such as the circular economy, advanced industries, clean energy, and the role of digital technology in accelerating the transformation of global investments into these new sectors. The green economy sectors provide a tremendous opportunity for companies and investors. The World Economic Forum estimates that The circular economy might contribute up to $4.5 trillion in economic benefits by 2030.
The forum, which was organized by Investopia in cooperation with the General Confederation of Moroccan Enterprises under the title “Investopia Business Dialogues in Morocco – the current market landscape, witnessed opportunities and challenges” and the signing of a memorandum of understanding to reactivate the Moroccan-Emirati Business Council, which is in line with Investopia’s objectives to promote investment opportunities in new economies between countries and support Its efforts to develop global policies that stimulate investment, forge new opportunities and partnerships in global markets, and encourage investment in new economies, where the economy can have an impact on the future of 3.5 billion people.
The forum was attended by His Excellency Abdullah bin Touq Al Marri, Minister of Economy, Hamid Mohammed bin Salem, Secretary General of the Federation of Chambers of Commerce and Industry in the country, Al Asri Saeed Ahmed Al Dhaheri, Ambassador of the UAE to the Kingdom of Morocco, and Chakib Laalj, President of the General Confederation of Moroccan Enterprises, in addition to a number of senior officials, decision makers, businessmen and investors. Prominent people from the UAE and Morocco.
Investment Opportunities
His Excellency Abdullah bin Touq Al Marri, UAE Minister of Economy, said: “Stimulating investment opportunities in sectors that constitute responsible and sustainable economies for the future is a priority for the UAE, and the country has developed an important number of initiatives in this direction, most notably the “Investopia Global Initiative” to create dialogue with groups Business and investors from the region and the world serve this trend and push forward investments towards new economies.”
His Excellency pointed out that the Investopia dialogues in Rabat discussed an important number of opportunities to develop new economic and development partnerships that would bring added value to the economies of the two countries and serve their future directions. His Excellency added: “We view the Moroccan business community as a real investment partner for the business sector in the UAE, and we are confident that the mutual desire and common concern that brings together my leadership, government and peoples of the two brotherly countries paves the way for a future that holds more fruitful partnerships led by the Emirati and Moroccan private sectors and pushes Bilateral relations are heading towards unprecedented horizons, more advanced and prosperous, in light of the strong economic and trade partnership that brings together the UAE and the Kingdom of Morocco.
UAE economic experience
His Excellency Ibn Touq reviewed the inspiring Emirati economic experience, which enabled it to consolidate its position at the heart of the global trade movement, thanks to its highly developed infrastructure and business environment that attracts investment, in addition to the flexible legislation and laws recently introduced by the state in light of the objectives of the fiftieth projects and the determinants of the UAE Centennial 2071. The most prominent of which is the provision of 100% full ownership of companies and investors in the main economic sectors, in addition to the incentives and benefits provided to companies in order to attract them to the promising and opportunity-rich Emirati market, which would stimulate fruitful business partnerships in the sectors of the future economy with the aim of promoting sustainable growth of the national economy and doubling the domestic product to reach up to 3 trillion dirhams over the next ten years.
His Excellency called on the business community and companies in Morocco to explore the promising growth opportunities in the UAE market, which is rich in advantages and incentives that ensure the growth and prosperity of business, and to take advantage of the UAE’s strategic location as a link between East and West and a major station on global trade routes.
Economic Forum
For his part, Al-Asri Saeed Ahmed Al Dhaheri, UAE Ambassador to the Kingdom of Morocco, stressed the depth of the historical bilateral relations between the UAE and the sisterly Kingdom of Morocco, which the wise leadership in both countries is keen to develop in an optimal manner to achieve growth and prosperity for the two brotherly peoples. He pointed out that this important economic forum, which brings together elite businessmen from our two brotherly countries, offers a new step to achieve further growth and prosperity at the level of economic and trade relations between the United Arab Emirates and the sister Kingdom of Morocco.
Cooperation Agreements
For his part, Chakib Laalj, head of the General Confederation of Moroccan Enterprises, said that Morocco and the United Arab Emirates enjoy relations of friendship and respect established by the late King Hassan II and Sheikh Zayed bin Sultan Al Nahyan, “may God rest his soul,” and these relations are constantly strengthening. Laalj also stressed that the economic cooperation between our two countries is fruitful, thanks to the two countries’ signing of an important number of joint cooperation agreements, and that the United Arab Emirates is the largest Arab country investing in the Kingdom of Morocco, with the presence of more than 35 Emirati companies operating in various sectors, and the volume of investments today has reached 20 Billion dollar. He continued, “Given the great complementarities and similarities between our two economies, I believe that we can go further than what has been achieved by building innovative, high-impact and sustainable partnerships in many sectors, especially industry, renewable energies, new technologies, and logistics, which would provide a model for A real regional cooperation with the aim of creating more jobs and more growth and prosperity in our regions.
Business Council
For his part, Hamid bin Salem, Secretary-General of the Federation of Emirates Chambers, stressed the keenness of the business sectors in the UAE and the Maghreb to strengthen economic and investment relations, expressing that the results of the joint business forum will provide an opportunity to open new horizons for cooperation in sectors of common interest. He said that the signing of a memorandum of understanding establishing an Emirati-Moroccan business council is a step towards achieving cooperation between the two sides in holding various events, whether in the UAE or Morocco, that serve the development and development of the two countries’ economic relations, as well as enhancing means of communication and acquaintance between business owners and providing them with possible facilities.
It is worth noting that “Investopia” is a global platform that aims to stimulate global investments towards the new economy and create growth and sustainability for the national economy of the countries of the world. In its first edition, “Investopia” touched on investments in the world of metaverses and digital currencies, in addition to 12 vital sectors in the sectors of the new economy, including Serves the well-being and prosperity of future generations, and “Investopia” is among the first package of the 50 strategic projects for the UAE announced by the UAE government in September 2021.
