Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

Cash-strapped Morocco courts US investment  Join our daily free Newsletter

MENAFN - AFP - 10/03/2014
No. of Ratings : 0
Add to Mixx!


(MENAFN - AFP) Morocco's finance minister on Monday urged US businesses to boost investment in the country and take advantage of "unprecedented" regional growth, as the cash-strapped government battles to fix its ailing finances.Rabat is a key regional ally of Washington, particularly in the fight against Islamist militancy. King Mohammed VI met President Barack Obama at the White House for the first time last November, although his visit came after diplomatic ties were strained over the sensitive question of human rights in the disputed Western Sahara.Speaking at the opening of a bilateral business conference in Rabat, Mohamed Boussaid said trade between Morocco and the United States had risen four-fold between 2005 and 2012, to reach 4 billion (2.8 billion euros).But the minister lamented the fact that US investment in the country, which amounted to just 195 million in 2012, represented less than 0.1 percent of US investments worldwide. "We invite you... not just to be one our major trade partners, but to seize the opportunities available to us in the West Africa region, which is destined to experience unprecedeted economic growth and development, in which Morocco plays a leading role," Boussaid said.

Morocco was badly affected by the financial crisis in Europe, its top trade partner, and has struggled to contain a ballooning public deficit.The authorities have strenuously promoted the country as a bridge between Africa and the West, in a bid to encourage foreign investment and trade.The Moroccan king is currently on an extended tour of West Africa to strengthen diplomatic and commercial ties with Mali, Ivory Coast, Guinea and Gabon.Moroccan officials frequently refer to the kingdom as an "exception" in the North Africa region, emphasising its stability in contrast with the Islamist unrest and political upheaval witnessed elsewhere.After three years of decline, Morocco became the largest recipient of foreign direct investment in North Africa for the first time in 2012, according to the United Nations, with investments of 2.84 billion, which rose again in 2013 to 3.5 billion.American companies with a significant presence in Morocco include Boeing, clothes manufacturer Fruit of the Loom and computer giant Dell.

 


AFP




  MENA News Headlines
 Dec 7 2016 - Qatar- Armed groups take control of Libyan town of Ben Jawad, close to major oil portsThe Peninsula
(MENAFN - The Peninsula) BENGHAZI, Libya: Armed groups took control on Wednesday of the Libyan town of Ben Jawad, close to some of Libya's major eastern oil ports, security officials said. Miftah ...

 Dec 7 2016 - Israeli missiles hit near airbase outside Damascus: Syria mediaThe Peninsula
(MENAFN - The Peninsula) Damascus: Several Israeli missiles struck the notorious Mazzeh airbase outside Damascus overnight without causing any casualties, Syrian state media reported on Wednesday. ...

 Dec 7 2016 - Turkey says pushing Aleppo talks between Russia, Syria oppositionThe Peninsula
(MENAFN - The Peninsula) Moscow:Ankara is doing "everything possible" to facilitate negotiations between Moscow and Syrian opposition groups to halt the bloodshed in Aleppo, Turkey's ...

 Dec 7 2016 - Syria rebels call for Aleppo truce, civilian evacuationThe Peninsula
(MENAFN - The Peninsula) Aleppo, Syria:Syrian rebels in Aleppo city called Wednesday for an immediate five-day truce and the evacuation of civilians to other opposition-held territory in the northern ...

 Dec 7 2016 - Arab Palestinian Investment Company - APIC Achieves Net Profits of USD6.28 Million in the First Half of 2016MENAFN Press
(MENAFN Press) Tarek Aggad, Chairman and CEO of Arab Palestinian Investment Company - APIC, said that the group achieved net profits after tax of USD6.28 million. Net profit attributed to APIC's ...

 Dec 7 2016 - The Dubai Summer Pass: City Entertainment Offer Proves a Great SuccessMENAFN Press
(MENAFN Press) Now in its 18th year, the "Dubai Summer Surprises" campaign is the highlight of the city's summer calendar, with events and activities for the whole family. As part of this campaign ...

 Dec 7 2016 - Kuwait- His Highness the Amir thanks Bahraini King on warm hospitalityKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) KUWAIT, Dec 7 (KUNA) -- His Highness the Amir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah has cabled Bahrain's King Hamad bin Isa Al-Khalifa expressing deep gratitude ...

 Dec 7 2016 - Greenback slide resumes on disappointing Fed minutes Japan’s verbal intervention falling on deaf earsMENAFN Press
(MENAFN Press) Dollar bulls were clearly uninspired by July’s Federal Reserve’s minutes released on Wednesday as participants remained divided over when to move interest rates. According to the ...

 Dec 7 2016 - Kuwait- His Highness the Amir departs BahrainKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) MANAMA, Dec 7 (KUNA) -- His Highness the Amir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah, along with his official delegation, departed the Kingdom of Bahrain on ...

 Dec 7 2016 - Kuwait insists on plan to provide 15 pct of energy out of renewable energyKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) AMMAN, Dec 7 (KUNA) -- The State of Kuwait is resolved to go ahead with its strategy to provide 15 percent of its energy needs out of renewable energy by 2030, an ...

more...


 





Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

Search News
Market Indices
Quotes & Charts

Global Indices
Arab Indices

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Economic Calendar
Financial Glossary


Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help