Moroccan Entrepreneurship: A Leading Example
2 December 2013
Read by 1609 persons
Title: Moroccan Entrepreneurship: A Leading Example. Morocco, home to numerous foreign companies operating in sectors such as aeronautics and the automotive industry, has become a prime example of a new generation of entrepreneurs, Jean-Louis Guigou, General Delegate of the Institute for Economic Forecasting of the Mediterranean World (IPEMED), emphasized Saturday afternoon in Paris.
Speaking at a roundtable on the theme "Co-location, a new catalyst for entrepreneurship," organized as part of the 7th edition of the business creation day initiated by the association "Morocco Entrepreneurs," Mr. Guigou expressed his conviction that in the coming years there will be a surge of activity moving from Europe to North African countries, particularly Morocco, known for its political stability, the guarantees it offers to foreign investors, and its infrastructure.
The fate of "developed and aging" northern countries is intertwined with that of southern countries, he said, noting that the concept of co-location allows for the sharing of added value and profits, as well as technology transfer.
Recalling that the first experience of co-location or shared production originated in Japan, which in the 1950s and 60s decided that South Korea, Taiwan, Hong Kong, and Singapore would become economic powerhouses within 15 years, Mr. Guigou indicated that these countries prepared for a surge of activity that could not be managed in Japan due to high land and energy prices and an aging population.
Western countries are destined to adopt this concept by forging win-win partnerships with Southern countries, he noted, stressing that co-location does not mean a withdrawal of investment from Northern countries but rather a sharing of production, benefiting both Southern and Northern economies.
For his part, Morocco's ambassador to France, Mr. Chakib Benmoussa, highlighted the resilience of the Moroccan economy during a period of gloomy international economic conditions in 2013, noting that forecasts point to a growth of 4.8% this year.
This dynamism, he explained, is linked to a successful agricultural campaign, the development of certain sectors, notably tourism and agri-food, and the confidence of foreign investors in the Moroccan economy.
Mentioning points of weakness in the Moroccan economy, including the budget deficit due to the Kingdom's choice to preserve purchasing power through the compensation fund mechanism, or the balance of payments deficit, which is manageable, Mr. Benmoussa emphasized the need to foster conditions conducive to job creation through the encouragement and promotion of exporting SMEs and SMIs internationally.
"Behind the concept of co-location, there is significant potential that needs to be translated into concrete action and ensure that this win-win approach serves not only to preserve existing markets but also to conquer new ones," he said, stressing that Morocco, with around one hundred foreign companies in the aeronautics sector, generating a turnover of one billion euros and contributing to the creation of eight to nine thousand jobs, has become a key player and a transit point in the global production chain.
Morocco, which has a major asset in its geographical proximity to Europe, which it has successfully leveraged through its structuring projects in infrastructure and logistics, has become a preferred partner for winning the co-location challenge, the Moroccan diplomat indicated.
And to conclude that strengthening connectivity with the rest of the world, the training dimension, and the consolidation of the financial sector to support Moroccan businesses are essential conditions for winning the co-location challenge.
Morocco Entrepreneurs, which organized this day, is an association whose mission is to contribute to the economic development of Morocco by encouraging Moroccans abroad or individuals strongly attached to Morocco to create their businesses in Morocco, by showcasing the world of business creation and the socio-economic news of Morocco, and by establishing synergy between businesses based in Morocco and Moroccan expertise abroad.
LNT/MAP
Int.ma
Published December 1, 2013.
Posted online December 2, 2013.
Speaking at a roundtable on the theme "Co-location, a new catalyst for entrepreneurship," organized as part of the 7th edition of the business creation day initiated by the association "Morocco Entrepreneurs," Mr. Guigou expressed his conviction that in the coming years there will be a surge of activity moving from Europe to North African countries, particularly Morocco, known for its political stability, the guarantees it offers to foreign investors, and its infrastructure.
The fate of "developed and aging" northern countries is intertwined with that of southern countries, he said, noting that the concept of co-location allows for the sharing of added value and profits, as well as technology transfer.
Recalling that the first experience of co-location or shared production originated in Japan, which in the 1950s and 60s decided that South Korea, Taiwan, Hong Kong, and Singapore would become economic powerhouses within 15 years, Mr. Guigou indicated that these countries prepared for a surge of activity that could not be managed in Japan due to high land and energy prices and an aging population.
Western countries are destined to adopt this concept by forging win-win partnerships with Southern countries, he noted, stressing that co-location does not mean a withdrawal of investment from Northern countries but rather a sharing of production, benefiting both Southern and Northern economies.
For his part, Morocco's ambassador to France, Mr. Chakib Benmoussa, highlighted the resilience of the Moroccan economy during a period of gloomy international economic conditions in 2013, noting that forecasts point to a growth of 4.8% this year.
This dynamism, he explained, is linked to a successful agricultural campaign, the development of certain sectors, notably tourism and agri-food, and the confidence of foreign investors in the Moroccan economy.
Mentioning points of weakness in the Moroccan economy, including the budget deficit due to the Kingdom's choice to preserve purchasing power through the compensation fund mechanism, or the balance of payments deficit, which is manageable, Mr. Benmoussa emphasized the need to foster conditions conducive to job creation through the encouragement and promotion of exporting SMEs and SMIs internationally.
"Behind the concept of co-location, there is significant potential that needs to be translated into concrete action and ensure that this win-win approach serves not only to preserve existing markets but also to conquer new ones," he said, stressing that Morocco, with around one hundred foreign companies in the aeronautics sector, generating a turnover of one billion euros and contributing to the creation of eight to nine thousand jobs, has become a key player and a transit point in the global production chain.
Morocco, which has a major asset in its geographical proximity to Europe, which it has successfully leveraged through its structuring projects in infrastructure and logistics, has become a preferred partner for winning the co-location challenge, the Moroccan diplomat indicated.
And to conclude that strengthening connectivity with the rest of the world, the training dimension, and the consolidation of the financial sector to support Moroccan businesses are essential conditions for winning the co-location challenge.
Morocco Entrepreneurs, which organized this day, is an association whose mission is to contribute to the economic development of Morocco by encouraging Moroccans abroad or individuals strongly attached to Morocco to create their businesses in Morocco, by showcasing the world of business creation and the socio-economic news of Morocco, and by establishing synergy between businesses based in Morocco and Moroccan expertise abroad.
LNT/MAP
Int.ma
Published December 1, 2013.
Posted online December 2, 2013.
