French Investment in Morocco Surges to €10 Billion in 2021
French businesses are increasingly investing in Morocco, with a staggering 10 billion euros in contracts signed in 2021. This surge in interest follows a decade of growing trade and employment opportunities, with French companies now employing over 150,000 people in the kingdom. One city witnessing this transformation is Essaouira, which has evolved from a resource-limited destination to a thriving tourist spot.
Essaouira's transformation is evident in its improved infrastructure and services. French hotelier Grégoire Aubron has seen this change firsthand and is now considering opening a second establishment in Morocco due to its economic growth and modernization. Meanwhile, Renault's factory in Tangier employs over 1,300 people daily, manufacturing Dacia Sandero cars. The Moroccan state encourages such investments through incentives like temporary tax exemptions and public subsidies.
Franck Roguier, another French entrepreneur, has set up a subsidiary in Morocco with the support of the French Chamber of Commerce in Morocco. While the specific company signing the 10 billion euro contracts remains unnamed, it's clear that large French groups like TotalEnergies, Engie, and Alstom are among those investing heavily in the country.
Morocco's economic growth and modernization are attracting more French businesses, creating jobs and driving trade. With incentives from the Moroccan state, this trend is set to continue, further strengthening the bond between France and Morocco.
