Assahafa.com
Morocco is undergoing “real” development in several fields, Chairman of the Federation of Saudi Chambers of Commerce and Industry, Hassan Al-Huwaizi, said on Wednesday in Casablanca.
During a meeting with the General Confederation of Moroccan Enterprises (CGEM), Al-Huwaizi commended Morocco’s economic progress and the momentum of reforms undertaken in several key sectors, highlighting the Kingdom’s strategic geographic positioning, as well as the quality of its infrastructure and the performance of its productive sectors, mainly the automotive industry, renewable energy and agri-foods.
He said that Saudi investors are showing growing interest in the Kingdom, stressing that this mission aims to “discover investment opportunities in Morocco.”
He also called on Moroccan investors and private sector businessmen to visit Saudi Arabia in order to explore the Kingdom’s multiple opportunities as part of its 2030 Vision, adding that his country now has some 700 investment-friendly legislative texts.
Al-Huwaizi emphasized that these reforms now place foreign investors on an equal footing with Saudi investors, in a constantly improving business climate underpinned by the political will to strengthen foreign trade and strategic partnerships.
For his part, Saudi Arabia’s ambassador to Morocco, Sami bin Abdullah Al-Saleh, said that the delegation, made up of over 30 representatives of major companies and investors, had stepped up meetings with Moroccan officials and private sector players to identify priority areas for cooperation, notably in industry, tourism, infrastructure and renewable energies.
He described the visit as a “major step” towards closer economic cooperation between the two countries, adding that the structuring projects currently underway in Morocco represent genuine investment opportunities for Saudi partners.
The aim of these initiatives, he added, is to strengthen international economic partnerships and support the development of the Moroccan economy, which has considerable potential thanks to the many projects underway and planned.
He also highlighted the diversity of initiatives launched in different regions of the Kingdom, covering key sectors such as infrastructure, industry, tourism and renewable energies, all of which are conducive to consolidating solid partnerships between the two sister Kingdoms.
This mission thus marks a new phase in the consolidation of Moroccan-Saudi economic ties, with the ambition of translating the strategic convergences between Rabat and Riyadh into concrete projects, in the service of an innovative and sustainable South-South partnership.
Source: map
