In his state visit to Morocco, scheduled from Monday October 28 to Wednesday October 30, French President Emmanuel Macron is accompanied by a large delegation. At his side, nine ministers but also around forty big bosses. Morocco is attracting more and more foreign investment, with France and the United States in the lead, but other countries are appearing. While the kingdom is the leading destination for French investments in Africa, important contracts could be signed during this visit.
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Champions of French industry are part of from the delegation of President Emmanuel Macronnotably Alstom and Airbus, reports our correspondent in Casablanca, Matthias Raynal.
These companies hope to benefit from warming diplomatic relations and this period of major investments which is opening for Morocco. The Shereef kingdom is due to host international events in the near future, notably the CAN 2025 or the 2030 World Cup.
The national company Royal Air Maroc plans in particular to buy planes to expand its fleet and could turn to Airbus which also wishes to sell tactical transport helicopters, Caracal.
In the military field, the visit of the French president to Morocco also relaunched the ambitions of Naval Group. The French manufacturer would like to conclude an agreement for the sale of two submarines and the construction of a submarine. In the railway sector, Alstom is competing with other multinationals to win the contract for the supply of 168 trains, including 18 high-speed trainsets for the Kenitra-Marrakech LGV, a contract worth 1.5 billion euros.
Of the agreements are awaited in the sectors of energy, water, education but also internal security.
The diplomatic cold between Paris and Rabat had not, however, ended economic relationsfar from it: trade between France and Morocco reached a record of 14 billion euros in 2023, at the height of tensions.
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Berlin covets Moroccan hydrogen and Beijing, electric batteries
While direct foreign investments are exploding in Morocco, Rabat is diversifying sources and signing contracts beyond the traditional French and American allies.
Germany and China are increasingly present. Berlin is seeking to penetrate the Moroccan market in the automotive industry and even renewable energies. Because Morocco relies heavily on green hydrogen and this did not leave Annalena Baerbock, the German Minister of Foreign Affairs and leader of the German Greens, indifferent during her recent visit to Rabat.
Berlin’s objective: establish an energy corridor between the two countries to accelerate its decarbonization
On the Chinese investment side: Beijing swears by electric cars. The CNGR group recently announced a $2 billion investment in partnership with a conglomerate owned by the Moroccan royal family to produce electric battery components. The Guchen Hi-Tech company will also establish a giant factory for electric batteries and energy storage systems: there is no shortage of projects.
So much competition for the United States and France, who are vying for the position of leading foreign investor in the country. Emmanuel Macron’s visit is further proof of this. With 632 million euros of investments last year, French companies do not want to lose control. Like the Orange group which invests massively in Morocco and has even established its African headquarters there.
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