Investment Opportunities in Morocco
Protection of Foreign Investment
- Bilateral Investment Conventions Signed By Morocco
Morocco has concluded agreements with 51 countries including France, Spain, Egypt, Italy, Lebanon, Libya, Portugal, Tunisia and Turkey for guarantee of overseas investments against every risk of nationalization and compulsory purchase. Several of these agreements can be downloaded on the web site of the UNCTAD. Those define the framework of protection of overseas investments for each signatory country.
Besides, the Association Agreement between the EU and Morocco, effective in March 2000, envisages also, with article 50: "establishment of a legal framework supporting investment, if necessary, by the conclusion of agreements of protection of investments and agreements intended to avoid double taxation between Morocco and the Member States".
- International Controversies Registered By UNCTAD
- 3 cases have been registered in the construction sector (construction of highways and hotels).
- Organizations Offering Their Assistance in Case of Disagreement
ICSID , International Center for settlement of Investment Disputes
ICCWBO , International court of arbitration, International chamber of commerce
- Member of the Multilateral Investment Guarantee Agency
Country Comparison For the Protection of Investors
|Morocco||Middle East & North Africa||United States||Germany|
|Index of Transaction Transparency*||7.0||6.3||7.0||5.0|
|Index of Manager’s Responsibility**||2.0||4.6||9.0||5.0|
|Index of Shareholders’ Power***||1.0||3.4||9.0||5.0|
|Index of Investor Protection****||3.3||4.8||8.3||5.0|
Source: Doing Business
Note: *The Greater the Index, the More Transparent the Conditions of Transactions. **The Greater the Index, the More the Manager is Personally Responsible. *** The Greater the Index, the Easier it Will Be For Shareholders to Take Legal Action. **** The Greater the Index, the Higher the Level of Investor Protection.
Procedures Relative to Foreign Investment
- Freedom of Establishment
- Guaranteed except for the agricultural sector
- Acquisition of Holdings
- Majority acquisition of interest in an existing or forming Moroccan company, is authorised by way capital subscription or acquisition of already issued securities.
- Obligation to Declare
- Investment system in Morocco is very open as investors do not have to obtain prior approval: they simply have to send the Foreign Exchange Office a report in the six months following the completion of the operation.
- Competent Organization For the Declaration
Foreign exchange office
- Requests For Specific Authorizations
- The financial sector has specific regulations, that of hydrocarbons as well as for free zones.
Office Real Estate and Land Ownership
- Possible Temporary Solutions
- There are many business domiciliation companies, in particular Sodrein or still Le Domicile d'Affaires offering a range of services to all.
- The Possibility of Buying Land and Industrial and Commercial Buildings
- Guaranteed except for the agricultural sectors
- Risk of Expropriation
- Weak. Investments are guaranteed by the Investment Charter.
- Forms of Aid
- Generally contributions to finance reception infrastructures, as also in acquisition of land and construction of professional buildings.
- Privileged Domains
- Either loans or assistance to finance infrastructures.
- Privileged Geographical Zones
New Information and Communication Technologies (NITC)
Exporting industries, in particular aeronautics and automobile
- Free Zones
- There are industrial parks (Bouskoura, Meknès, etc.), technoparks (Casa Technopark) and free zones (that of Tangier particularly enjoying tax and special customs benefits.
- Organizations Which Finance
The Investments Commission, the Hassan II Funds for Economic and Social development and Funds of Promotion of Investments managed by the Department of Investments.
The French Development Agency on behalf of its subsidiary company Proparco.
- The Key Sectors of the National Economy
- Textile-clothing, tourism
- High Potential Sectors
- Call centers, high-technology, agriculture
- Privatization Programs
Since the last few years, Morocco has launched an ambitious programme of privatisation in many sectors of the economy. The largest operations were carried out in the sectors of mobile telephony, finance, tobaccos and water supply.
In 2008, privatisations related to food processing sector (seeds and salts in particular) as well as that of construction materials and textiles.
A partial privatisation of the Moroccan office of phosphates as well as the Royal Air Maroc is expected.
- Tenders, Projects and Public Procurement
Tenders Info, Tenders in Morocco
DgMarket, Tenders Worldwide
Sectors Where Investment Opportunities Are Fewer
- Monopolistic Sectors
- Mining sector, Postal services
- Sectors in Decline
- Textile-clothing, fishing
Finding Assistance For Further Information
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