Bank of Africa (BOA) partners with AMDIE to Boost Chinese Investment in Morocco

MOROCCO – Morocco’s third-largest banking group (BMCE) signed a partnership agreement with Morocco’s development and investment agency to support Chinese investments in Morocco.

The agreement was signed by BOA’s Executive General Director, Kalid Nasr, and AMDIE’s General Director, Youssef El Bari.

The AMDIE-BOA cooperation agreement aims to support Chinese investments in accessing the Moroccan market as well as other African markets.

In addition to helping Chinese companies access African markets, the two entities in return will attract Chinese business.

Under the agreement, the two parties will form a committee tasked with providing a clear strategy and plan of action to achieve targeted objectives.

This comes at the backdrop of Morocco and China signing a large-scale economic cooperation deal.

Supported by long-standing diplomatic relations, Chinese investments in Morocco stand at $380 million, covering infrastructure, industry, and fisheries.

By reinforcing bilateral cooperation with Morocco, China counting on Morocco’s growing role as a trade and manufacturing hub.

Taking advantage of Morocco’s geographical position, China sees the country as a prime location to serve as a trade hub linking Africa and Europe to China.

AMDIE hopes to strengthen its mechanism for attracting and supporting Chinese and other international investors.

Morocco is increasingly garnering international attention as an international investment destination, with the government promoting Foreign Direct Investment as one of its key economic strategies.

Launching a “new development model”, Morocco has drawn up a clear roadmap for future development, which consolidates its economic progress.

This will ensure the necessary synergies based on a pragmatic approach and pave the way for competitive, proactive, and sustainable investment.

‘Morocco Now,’ the country’s international marketing campaign aims to promote Morocco’s world-class business infrastructure, various free trade agreements, green ambitions, and government incentives.

The North African country relies on key distinctive assets (NOW sustainable, NOW competitive, NOW Well-Proven, and NOW agile).

With 42% of the population under 25, low wages, and low taxes on business, Morocco continues to promote itself as an attractive business destination for foreign investors.

The deal further aims to boost Moroccan exports to China, which is currently the 14th largest buyer of Moroccan goods worldwide.

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