The Kingdom is launching its investment and export brand under the name “Morocco Now” during Expo 2020 in UAE. Assets to be exploited to develop its competitiveness, in particular in the automotive sector, where Morocco aims to be the world leader.
In Dubai, Morocco is showing off its ambitions in the areas of investment and export with the launch, Sunday, October 10, of its brand “Morocco Now”.
The announcement took place from the Moroccan pavilion at Expo 2020. This global event attracts more than 200 participants (nations, multilateral organizations, companies, etc.). A full-scale platform, for the Kingdom, which intends to establish itself as a “leading industrial and exporting platform, in order to accelerate foreign investment”.
The purpose of “Morocco Now” is to offer investors a new “low-carbon and competitive” investment platform, says Youssef El Bari, Director General of the Moroccan Agency for the Development of Investments and Exports (AMDIE).
“It is not about a label, it is an identity to show what Morocco is, in relation to investment and business in general”, adds the speaker. An identity that aims to be offensive and uninhibited. This is evidenced by some of the challenges displayed: “In the automobile industry, we want to be first in terms of competitiveness in the world. We are working on it, ”announces Mr. El Bari.
“This is a sector that has grown in importance in Morocco and that has developed very strongly. Today, we are around 10 billion dollars in exports, with the capacity to install 500,000 cars. We manufacture electric and thermal cars and a 60% integration rate. “
While capitalizing on these gains, Morocco wants to “be more competitive” by surfing, among other things, on the development of “green energy”. The goal, according to El Bari, is to double exports within 5 years.
More generally, the Moroccan industrial brand Morocco Now highlights 4 distinctive assets:
- Sustainable NOW: thanks to visionary investments, renewable energies represent 37% of the energy mix in 2020, with a target of 52% by 2030 and an installed capacity of 4GW in 2021
- Competitive NOW, thanks to a “Best Cost” offer at competitive production and export costs, thanks to privileged access to more than 1 billion consumers through 54 free trade agreements and constituting an immediate gateway, allowing integrate into Africa’s rapid growth potential
- NOW, a guarantee of success, through a successful track record in the implementation of foreign investments, in highly strategic and technical sectors of global industry and in the realization of mega infrastructure projects, by focusing on the rise in skills of his youth.
- NOW agile, with a remarkable capacity for adaptation written in Morocco’s DNA, illustrated in the management of the COVID crisis through the rapid reallocation of industrial tools, to health equipment or even the effective deployment of vaccination, thus paving the way for a rapid recovery.
Dubai is set to host Expo 2020 for six months, from October 1st, 2021 to March 31st, 2022. The event is expected to be the most ambitious and largest international event in human history, covering an area of 650 hectares with a total of 230 pavilions. The world exposition will share the narrative with UAE’s story and showcase advances made in science and technology that will contribute to sustainable development in Dubai and throughout the region