The 3-day forum started under the theme “Purpose, Resilience and Prosperity”, this forum brought together an assembly of top politicians, CEO’s of companies and MENA’s civil society delegates, who thoroughly looked at the development and economic growth in this well known region.

During the course of this forum, 3 main issues were brought to the fore front:

• “Regional responses to global risks”
• “Encouraging sustainable Growth”
• “North Africa: New Regions of Partnership”

The World Economic Forum was just the chance that the world’s economists and analyst needed in order to reflect on the most suitable strategy for steady growth and development in the region, in the following circumstances:

• Universal economic crisis
• Instability of oil costs
• Water shortages
• Immigration

This forum has also served as the ideal platform to make sense of, jointly, the effect of the post-crisis.

André Schneider, the Managing director of the WEF announced after the closing session of this year’s World Economic Forum on the MENA region that next year’s forum will take place in Jordan on 20th – 22nd May 2011.

What Does Morocco Have to Offer Investors?
Morocco is one of the many countries in the world that is considered as a pure haven for people who seek adventure, tranquillity and culture. Morocco sure has a lot to offer the world in terms of quality investment opportunities. The forum was the perfect avenue to showcase Morocco’s openness to trade with the world. Quite a number of French and Spanish real estate investors have taken advantage of real estate opportunities in this country.

Why Purchase Real Estate in Morocco?!
Because Morocco is the nearest exotic location for Western Europe residents, this country is fast becoming the hub for many smart real estate investors. In recent years, the property purchasing procedure in this country is made a whole lot easier by the Moroccan government. Morocco has a government that is totally committed to prepare the country’s economy for free trade with the United States and the European Union. If you hope to invest in Morocco, you need to know that the long term prospects for this country’s emerging investment opportunities are totally positive.

The bulk of current real estate interest for lots of interested real estate investors is situated in the exciting cities of:

• Marrakech
• Casablanca
• Tangier
• Rabat
• Agadir
• Meknes
• Dades Valley
• Erfoud
• Tetuan
• Fez
• Essaouria
• Quarzazate
• Marina Smir
• Tat
• Zagora

The city of Marrakech benefits from a really unique combination of African, French and Spanish influences, this city is also home to very beautiful architecture, magnificent facilities and superb attractions.

The Moroccan tourism industry is also growing at a very fast rate; there is a really increasing demand for respectable accommodation and rental services. Smart business people take advantage of Moroccan real estate property. If you consider yourself to be a smart investor – take the hint.

Why cut down the Administration’s Operating Expenses?
The Economy and Finance minister who presented the draft of the country’s 2011 appropriation bill before the Moroccan House of Representatives, emphasized that the cutting down of the administration’s operating costs aims to make sure that a necessary financial margin in order to do the following:

• Pursue key reforms
• Implement economy strategies
• Meet the government’s social obligations.

What Does the Project Foresee?
The project foresees the following:

• Five percent (5%) growth rate
• Two percent (2%) inflation rate
• 3.5 percent budget deficit
• 75 dollars barrel oil

Which Sectors will Contribute to Morocco’s 5 Percent Growth Rate?
The Moroccan real estate market is one of the sectors that will contribute (immensely) to the growth rate of the country’s economy. The Moroccan tourism industry is also one of the sectors that will contribute to the growth rate of the Moroccan economy.

How Can Real Estate Investors Generate Jobs for Moroccans?
Because the real estate market in the Kingdom is getting bigger, better and well developed, foreign investors can help the Moroccan economy more by simply generating income to the citizens who live in this country. For example, if an investor is planning on constructing a hotel or resort complex along Morocco’s beaches, investors can easily get the manpower that they need. Investors can also assist people by purchasing their houses or apartments that have been put up for sale and convert them into more lucrative business which they (the people) can also benefit from.

Will Investors Feel Comfortable Investing in Morocco’s Real Estate?
Morocco’s Sovereign, HM King Mohammed VI and the United Arab Emirates have allocated huge investment into significantly increasing tourism further to an aim of 10 million visitors annually before 2011. This particular investment including several tax benefits will also help investors feel very comfortable in putting their money in Morocco’s real estate market. There is a very small number of locations in the world where investors can look forward to investing at great prices and expect to get immediate rental return with a high capital appreciation prospects.

What Has the Moroccan Government Put In Place to Make the Country Investor-Friendly?
Foreign investors can feel very safe investing their money in Morocco. The Moroccan government has introduced certain reforms that go way back to the 80s. These reforms where put in place in order to help improve the country’s economic conditions. Regarding the issue of taxes, the Moroccan government has taken great care in charging too much taxes on properties – doing this, has ensured that businesses can, to a large extent experience their profits on the capital.

Last word
The Moroccan government is taking every step to ensure that the country is every vacationer’s dream destination, every investor’s precious cash cow and every citizen’s dream country.

Why Hold this International Event in Morocco?
Schneider informed MAP on the eve of commencement of the 3 day event, that holding this global event in the Kingdom of Morocco also shows the country’s position as a vital player in the Middle East and North Africa region, being a connection point between Africa, the America’s and Europe, and as a key player in all dialogues of the Mediterranean region’s future.

What Other Areas will the Forum Focus on?
The managing director for WEF also emphasized that the forum will also focus on a couple of broad lines, namely:

• “Regional Responses to Global Risks”
• “North Africa: New Business Geographies”
• “Unlocking Sustainable Growth”

He also said that World Economic Forum on Middle East and North Africa region is a wonderful opportunity to tackle various issues such as:

• The challenges facing education
• Building energy infrastructure
• Encouraging growth and the impact of the global financial crisis on the Middle East and North Africa region
• The resources to promote human capacities in order to maintain growth

Did This Event Host Only Heads of Nations?
The forum was held under the theme “Purpose, Resilience and Prosperity” and brought together a host of economists, politicians and civil society players.

After Hosting this Forum, What Did The Moroccan Government Achieve?
During the course of this 3 day event, Morocco was able to showcase the country’s investment opportunities particularly in the real estate market. The Moroccan government was able to tell not just the WEF on MENA delegates, but the world in general that Morocco is THE destination for investors.

“Why Should I Buy Property in Morocco?”
The reason you should consider purchasing property in Morocco is because this country has one thing in common with other well known overseas property hotspots and that is “global mass appeal”. This country’s transformation from a dull North Africa remote place to a ritzy European getaway has made travel headlines. This country’s enchanting resorts, cultural delights and other wonderful locations is any holiday maker’s dream spot.

What Makes Morocco such Special Destination for European Holiday Makers?
C’mon let’s be honest here, there is no European on the face of the earth who does not go on holiday just for the sun. Morocco is certainly the perfect escape from cold winters and depressingly wet and windy weekends.

Is it that easy to Purchase Property in Morocco?
Yes, buying property Morocco is pretty straightforward. But it is essential that you take independent legal advice. Translation: Although buying a property is easy, you will still need to consult an expert on Morocco’s real estate matters.

What Language is spoken in Morocco?
Though English is spoken is widely spoken in Morocco, Arabic and French are the preferred languages. It will be nice if you can speak in a little bit of Spanish.

How will Private Operators be Encouraged to Strengthen Their Presence in the African Market?
The Ministers added in a press briefing, that in other to support private operators to strengthen their presence on the African market, the “Fonds de Promotion des exportations” will allocate 200 million dirhams as part of the 2011 appropriation bill.

How Can Morocco’s Business Climate be Improved?
The Moroccan Finance Minister stressed that there is a need to put in place a regional financial hub in Casablanca and to also offer fiscal incentives – this way, the business climate in Morocco and the country’s competiveness can be improved. The Minister also noted that income tax on foreign capital will be slashed from 30 percent to 15 percent.

What is The Support for Foreign Investment in Morocco?
The Kingdom has put together a couple of major projections in order to draw foreign investments. Several investment’s support instruments that follow the provisions implemented for improvement of business environment. They are, as a matter of fact, presented as contributions and benefits to foreign investors by the government of Morocco. La Direction des Investissements Extérieurs (The External Investments Management), including the Regional Investment Centers make up the necessary tools needed for promotion, the assistance and of course, the reception of foreign investors. The Moroccan government implemented a convertibility system for foreign investments carried out in currencies in order to guarantee foreign investors the complete liberty to accomplish their investments in the country and transfer the profits produced, as well as the income of transfer or liquidation.

Which Sectors In Morocco are Open to Foreign Investment?
Each and every sector in Morocco is wide open to foreign investment. However, the following are all subject to a couple of specific regulations:

• Offshore financial centers
• Hydrocarbon investments
• Exportation free zones

Why you should invest in Morocco
Morocco is one of the very few countries in the world today that offers investors the opportunity to invest their money in profitable sectors and will not squeeze every cent out of them (investors) when it comes to taxes. Taxes! That is one word that scares any investor stiff! Morocco’s Sovereign has put measures in place to ensure that the country’s tax laws are investor-friendly: Translation – the tax system will not be in your pocket every step of the way (this is the part where you do a double backhand spring!)

Any Tips for Foreign Investors?
No matter what sector you plan to invest in, it is important that you prepare a business plan. Drawing up a business plan will help you define the aims and objective of your company and allow at the same time, the opportunity to establish all of the necessary steps and financial assistance for the achievement of your company’s goals.

What is Morocco’s Economic Growth Expected to be in 2010?
Regardless of the recent crisis in Europe, in 2010, the Kingdom of Morocco’s economic growth us expected to be quite satisfactory, while the country’s standard rate of inflation is estimated to stay below 2 percent, the Director of Middle East and Central Asia Department told MAP on the eve of taking part in the WEF (World Economic Forum) on MENA (Middle East and North Africa) which took place in Marrakech, Morocco.

What Else Did the Director of Middle East and Central Asia Department Say?
He emphasized the efforts that the Moroccan government has made in order to reinforce the country’s infrastructure and improve the business environment which will in turn promote Morocco’s competitiveness, maintain a growth strategy based on the country’s exports and also solving the unemployment issues. He also said that the efforts put forth by the Moroccan government in order to improve educational and health services are also essential to ensure a sustained growth.

What about the Country’s Money and Tax Issues?
On Morocco’s money and taxes issues, the official of the International Monetary Fund (IMF) considered that Morocco responded “appropriately” in the face of a global financial slump, emphasizing that the government’s budgetary measures, which include increasing grants for key sectors has helped to support local demand. He also added that cutting down the central bank’s major interest rate and the cutting back of mandatory reserve requirements, in addition to the attentive monitoring of the country’s financial sector resulted in sustaining trust.

How Did MENA Importing Oil Nations Overcome the Global Financial Crisis?
Masood Ahmed noted that Middle East and North Africa importing oil nations – Egypt, Morocco, Jordan, Mauritania, Syria, Jordan and Tunisia – triumphed over the crisis through implementing budgetary measure while giving room for manoeuvre.

“Can You Tell Me More About the Moroccan Market?” – Oh Hell Yeah!
The Kingdom of Morocco is truly a unique country with an outstanding attraction, thanks to its 3 key advantages which are:

• An economic environment that is wide open to investors
• A competitive and qualified work force
• Strategic geographical location.

Morocco is a country that remains powerful in terms of its reception of the Foreign Direct Investment (FDI), established by its categorization in the “2nd place” of the Maghreb host nations and in the “4th place” out of all the other African nations. A number of fields are under the control of the present development of the country, such as:

• The textile industry
• Telecommunications
• Services
• Electronics
• Construction etc.

The Moroccan Tax Advantages
In order to promote foreign investment in Morocco, the Moroccan government grants various tax advantages to foreign investors – in other words, investing in Morocco is a tax pain-in-the-neck-FREE process.

How Many Moroccan Products will be Featured in New York?
On the sidelines of the 24th SIAL (Salon International de l’Agroalimentaire) which took place in Paris, France, Morocco’s Foreign Trade Minister told MAP in an interview that all 16 stores of “The Food Emporium” a well known New Yorker food chain, will feature over 200 Moroccan made products.

What is the Importance of Morocco’s Participation in the SIAL?
The 24th SIAL, was event marked by the participation of over 70 Moroccan based companies, was an avenue to showcase Morocco’s diverse and innovative production and to also encourage the exportation of every bit of this country’s agro-industrial products particularly spices and oils, in addition to the following:

• Preserved food
• Condiments
• Sweets
• Drinks
• Starch
• Seafood

The Minister praised the excellence of Morocco’s participation in this event, both in terms of the considerable number of Moroccan participants and the number of visitors, the minister noted that participating in the SIAL was essential to promote the exports of Moroccan products because it served to successfully introduce Morocco’s agro-industrial products to the French high-end market.

Apart from Food Products, What Else Can Morocco Offer the American Market?
Morocco is presently a completely unique location for interested property investors. American real estate investors can take advantage of this country’s wonderful real estate opportunities. Interested Americans have the opportunity to buy property early in this country’s emerging market at a very affordable cost in comparison to lots of other countries in the Mediterranean region.

What is So Unique about the Property Market in Morocco?
The “Unique” thing about investing in the Moroccan real estate market is the “Sense of security” every investor is sure of getting – not many real estate investors can boast of this, not even Donald Trump. With this country’s tourism already improving at a pretty rapid rate and the “buy to let” investors are already recording 85 percent (85 percent!) occupancy rates all through the peak season. For many investors, Morocco does not only FEEL like a safe place to buy property but it IS a safe place to buy property.

Why Should I Invest In Morocco’s Real Estate? – Got Reasons?
Here are just some of the reasons why investing in Morocco’s real estate makes sense:

• The property prices in Morocco are 50 percent less (50% less!) than any other European option
• The cost of living is low – translation: you can experience a luxury lifestyle at a small cost
• This country has a booming property market
• Real estate investors will not be charged annual property tax for the first five years
• Zero percent inheritance tax to family
• 70 percent mortgages available
• The country’s Sovereign and the UAE plan to increase tourism and is putting in place projects to improve infrastructure and boost Morocco’s tourism industry by 10 million visitors annually.

The CEO of Renault-Nissan said at a forum on “The risks of underinvestment in infrastructure” which was held as part of the WEF (World Economic Forum) on MENA (Middle East and North Africa) region that Morocco’s openness policy will allow Renault’s plant located in the city Tangier, which is expected to have a yearly production capacity of four hundred thousand (400,000) units, to be made available to both the domestic and the global markets.

Applauding Morocco’s efforts to build up infrastructure, Ghosn said that Morocco has a very large human potential. In Goshn’s own words “Morocco has a skilled labor which is ready to improve itself”.

The president of the EU’s (European Union)’s economic council Andrea Canino also spoke at this occasion, he said that before starting any infrastructure scheme, Morocco’s authorities must sit with the operators concerned and engage in dialogue in order to asses the usefulness of the scheme and its benefits in the short-term and long-term.

Andrea Canino said that this system has been implemented by Morocco, noting that the government had started discussion on the value of the “Tangiers-Med port project” with worldwide operators prior to its launch.

How Has Morocco Benefited from The Openness Policy?
The openness policy adopted by Morocco has made this country stand in good stead in terms of free trade. Morocco’s Foreign Trade Minister Abdellatif Maâzouz in an interview with British Daily Financial Times said that The Kingdom of Morocco maintains free-trade relations with fifty five (55) nations representing a billion consumers. Maâzouz went on to say that Morocco also has special ties with all countries in the EU along with those countries of the European Free Trade Association, Turkey, the US and Arab nations.

The European nations are known to remain at the core of the Kingdom of Morocco’s trade. The Minister said that in 2009, the trade with the European space was over 56 percent of the sum of the country’s trade and more than 65 percent of the exports of Morocco were destined for European consumers.

Europe is a major partner of the Kingdom of Morocco, with over 3 million tourists visiting this country in the past year alone.

Now, regarding investments, the European Union holds 60 percent of Morocco’s direct investments in the last decade. According to a Moroccan official, the UK ranked 6th in 2009, in terms of trading with the Kingdom of Morocco and ranked 14th amongst the countries that supplies Morocco.

What about Exportation?
The “Morocco Export Plus” scheme was launched by Morocco in order to improve its foreign trade, Maâzouz stressed that this project was launched with the intention to double Morocco’s exports by the year 2015 and triple the exports in 2018.
The main goal according to Maâzouz, is to help strengthen the position of the Kingdom as a strong platform for investments and exports.

Is Morocco Facing any Difficulties Even After the Economic Recovery?
Okay, there is no such as a “Perfect Economy.” In an address to the WEF (World Economic Forum) on MENA (Middle East and North Africa) which opened in Marrakech, Morocco, the King in his own words said “it is now clear that the economic recovery witnessed recently has not been strong enough to help end the scourge of unemployment. Indeed, the recovery is being hampered by many difficulties that prevent us from finding comprehensive solutions which are likely to see us out of the crisis.”

Wait a Minute! What is the Major Lesson that Should be Learned Here!?
The Monarch of this country also that “the main lesson to be learned, therefore, from the developments witnessed in recent years is that the global crisis is about more than just economic, financial and social factors. It concerns the fundamentals of the global model for economic growth. The crisis actually raises the question of this model’s cultural basis, puts its good governance to the test and threatens its democratic foundations.”

What is Morocco’s Crisis Exist Strategy?
The nation’s Sovereign brought to mind that given the Middle East and North Africa region’s natural resources and energies, it can actually play a major part in putting together crisis exist strategies and donate successfully to the debate on a new universal development model that will put human dignity at the core of its concerns, emphasizing that the region has been doing quite well as regards the rate at which it is rising above the adverse effects of the global financial and economic crisis. The King added “By year’s end, our growth rate should be encouraging and prospects for the coming year are likely to be just as promising.”

What is So Great About the MENA region Anyway?
Well, according to Morocco’s Monarch, the Middle East North Africa region is “particularly rich in natural resources, especially with regard to energy production – from both mineral and renewable resources. It also has enormous human resources and is home to five per cent of the world population, most of whom are young,” he also added that, from a geopolitical angle, this region’s importance is improved by its excellent location, which can play a vital part in encouraging exchange and cooperation.

What are the Challenges is The MENA Region Facing?
Morocco’s Sovereign drew attention to the two major challenges faced by the MENA region today are:

1. The capacity to support growth, speed up its pace, increase competitiveness and draw investors in order to create more employment, seal the gap between the rich and the financially challenged and place citizens at the center of the development process, whilst conserving the basic economic and financial stability.
2. The ability to effectively position itself on the international economic map – presently and in the future – by turning into a powerful regional bloc that thrives on common approach when doing business with the outside world. A strong strategy that will not only be grounded in regional integration but one that will also allow for productive cooperation partnerships with Morocco’s partners from all over the world.

How will Morocco Attempt to Develop a Sustainable Economy?
During the press conference held on the evening prior to the WEF (World Economic Forum) on MENA (Middle East and North Africa), The Managing Director of WEF emphasized that Morocco is dedicated to the sustainability principle, by introducing a variety of large scale projects, under the supervision of Morocco’s Sovereign HM King Mohammed VI, particularly in the field of renewable energy and the involvement of the National Chart on the Environment & Sustainable Development.

Any Support?
Morocco’s “strong commitment” is firmly supported by the encouraging economic results accomplished by the country, Schneider added, by noting that Morocco’s advantageous geographic location and the positive relationship it has with the EU (European Union), the United States and the Middle East and North African countries have made it a stage for cooperation and dialogue and also as the location for hosting the WEF on MENA.

What is The Objective of WEF on MENA?
SherifEl Diwany, who is the Middle East and North Africa’s Executive Director at the World Economic Forum said that the WEF which held in Marrakech, Morocco, under the theme “Purpose, Resilience and Prosperity”, is a forum which will discuss necessary political and commercial measures in order to help encourage competitiveness at the regional level.

What is the Key Element for Promoting Competitiveness of the MENA Countries?
The Senior Economist, Director of the World Economic Forum’s Center for Global Competiveness and Performance highlighted the significance of “education” as a major element for promoting the competitiveness of the Middle East and North Africa countries.

The WEF on MENA Hosted What Kind of Delegates?
The 3 day event brought together a host of several policy makers, company execs in addition representatives of the civil society and key opinion leaders at the regional and global levels, with a view to talk about a growth and development plan for the Middle East and North Africa region, in the present situation which is marked by a global financial crisis, the unstable prices of petrol, water scarcity and the continuing immigration issue.

After All Said and Done, What Should Investors Expect?
Morocco’s Sovereign King Mohammed VI plans to create a number of tourist developments in this country’s Mediterranean and Atlantic Coasts. These projects will be constructed over a period of five years and will include the following:

• Stunning apartments
• Townhouses
• Golf courses
• 5 Star hotels
• Villas

What are the Key Changes In Morocco?
Some of the key changes in this country are:

• Channel Tunnel between The Kingdom of Morocco and Spain.
• New road construction projects (Budget: 11.9 million Euros)
• Five year development plan. Arab investors will construct the following:
  • – New complexes
  • – 5 star hotels
  • – Convention centers
  • – Spas
  • – Marinas
  • – Riding clubs
  • – Beach clubs
• Other key investments that will focus on:
  • – Seaside resorts
  • – Roads
  • – Harbour
  • – Real estate
  • – Beach clubs
  • – Shopping centers
  • – Airport infrastructure
  • – Create new job opportunities
• High Speed trains

Does the French Government have any Advise for Moroccan Government?
Following discussions with Abdellatif Maâzouz, Morocco’s Foreign Trade Minister, France’s State Secretary informed MAP that she has emphasized, during the discussions, the necessitation for “a compromise respecting one another, which will reflect Morocco’s special standing, compared with other countries in the region, thanks to its advanced status, which is worth taking into consideration in the negotiation process.” Morocco’s Foreign Trade Minister told MAP that French government wished to send a signal to the European Union on “Morocco’s willingness to move forward in the services negotiations, as was declared in the Grenada (Spain) summit” between the European Union and the Kingdom of Morocco.

What are Morocco’s Demands in Trade Agreement?
The Moroccan Foreign Trade ministers emphasized that the Kingdom demands particularly more flexibility with consideration to a couple of rules relating to the recognition of degrees, which will make way for an effective services agreement. In the minister’s own words “Flexibility in these aspects would enable to go faster in the free trade negotiations.” Maâzouz also said that in the field of textile, the Kingdom is requesting for similar conditions of rules of origin applied to the Pacific, Turkey, Caribbean and African states.

Did Morocco Ever Have a Trading Partner?
In 2009, France happened to be Morocco’s very first trading partner, with 18.2 percent of Moroccan foreign trade. The EU is the Kingdom’s first trading partner and accounts for virtually 60% of its entire trade. Morocco’s imports in 2006 from the European Union arrived at 10.3 billion Euros, while the kingdom exported a total value of 7.2 billion Euros. In 2006, Morocco’s trade deficit with the European Union stood at 3.1 billion Euros.

What is Morocco’s Economy Largely Dependent On?
The Moroccan economy is still pretty much dependent on textiles trade and agricultural products, which together in 2006 accounted for 59 percent of European Union imports from the Kingdom.

What is the Sectoral breakdown of Chief European Union Imports from Morocco?
In 2006, the sectoral breakdown of chief European Union imports from Morocco is:

• Agricultural products – 24 percent
• Clothing and Textiles – 35 percent
• Energy – 4 percent
• chemical products – 4 percent
• Machinery – 15.4 percent

Major European Union exports to Morocco are:

• Machinery – 26.4 percent
• Clothing and textiles – 14 percent
• Energy – 10 percent
• Chemical products – 10.5 percent
• Transport materials – 10 percent

What is Morocco’s Foreign Direct Investment (FDI)?
The European Union is the chief foreign investor for the Kingdom, followed by the United States. In 2005, the European Union Foreign Direct Investment in the Kingdom of Morocco was some whopping 1 billion Euros, adding to the total European Union external stocks in Morocco of almost 4 billion Euros.