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Monday, 15 September 2014

Morocco to invest $100 billion in industrial and logistics zones over next 20 years

Moroccan minister Aziz Rabbah talking at PFI Morocco Moroccan minister Aziz Rabbah talking at PFI Morocco

Morocco will invest over than $100 billion during the next 20 years in infrastructures including $25 billion in industrial and logistics zones as it moves to become a regional transport hub, the minister of Equipment, Transport and Logistics, Aziz Rabbah told the Port Finance International conference in Casablanca today.

In the port sector, the success of recent Moroccan reforms and changes in infrastructure development have added to the success of the Tangier-Med Port at both the regional and the international levels.

“Our country has elaborated a new vision based on the protection of all what has been established and the reinforcement of port strategy through the adoption of a participatory and constructive approach in order to ensure the full involvement of actors in the public and private sectors,” Rabbah said.

The implementation of this ambitious strategy requires the mobilization of financial resources over the next twenty years at an estimated cost of $8 billion for port infrastructure.

Economic model to favor PPPs

“Moroccans have chosen to create their own economic model. Morocco is making big efforts in improving business climate by making reforms and legislating laws in many sectors as taxations, land, justice, simplification of administrative procedures, … which are now bearing fruit and cutting red tape,” Rabbah said.

These reforms are embracing Private Public Partnerships (PPPs) in the ports sector as the country gears up to provide services in support of a strategic transport corridor in North Africa.

“We want to be much more competitive and speed up this investment. We want to move from this traditional model of state funding to private investments via PPPs," Rabbah said. "Otherwise we will have to wait 20 years to develop the infrastructure that is needed."

To increase the numbers of projects in PPP, the Ministry has developed a set of projects in all sectors to make private investors informed of the long term vision of the Ministry in terms of transport infrastructure development and the launching of deep reforms to ensure transparency and equity between domestic and foreign operators.

For the implementation of these master plans, the Department aims to be more open to new horizons of partnership and project structured under BOT partnerships in the conception, funding, implementation, operation in the infrastructures and related services.

Morocco to become regional hub

“We have already taken steps to develop Morocco as an regional hub serving Africa and Europe as well as America and the Gulf countries in an another way we have signed agreements with many West African countries (Senegal, Mauritania, Ivory Coast, Gabon, Guiney ...) to develop Morocco as regional transport corridor,” Rabbah added.

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