ECONOMY: MOROCCO, EUROPEAN CONQUEST BEGINS FROM ITALY

(by Diego Minuti)
(ANSAmed) - ROME - In recent years Morocco has pulled in
foreign direct investment totalling around 5 billion euro,
but Italy is not among the top investors. Morocco is
therefore set on stepping up its bid to attract capital from
the Bel Paese and has decided that Italy must be the first
European country to host a Moroccan economic promotion office
(followed by Spain, Germany and France). The office would be
more than just a representative unit, since it will have a
difficult looking task: showing Italian investors the
convenience of considering Morocco in their investment
choices. The task is only ''apparently'' difficult because
Morocco has decided to start up an aggressive economic
policy, promising substantial tax breaks and a low cost of
labour. The hopes have been pinned to the 'Maroc en
mouvement' programme, which the country offers to potential
investors. The job of running the office in Milan has fallen
to Hamila Hadir, a double-graduate in chemistry and textiles,
who has already lived in Italy for study and work before
taking up a government post. ''Morocco does not only
offer economic advantages'', said Hamila Hadir, ''but also
its absolutely original character and, above all, political
stability''. Mohamed IV's monarchical regime is aiming to
modernise the country and the efforts so far undertaken have
brought good results since ''giant leaps have been made'',
according to Hamila Hadir, who also noted the king's choice
to make a huge break with the past. By way of example, Hadir
added: ''the king has chosen to have a single wife and to
take her out in public, breaking with established
tradition''.
Nowadays, King Mohammed and his wife, Lalla Salma Bennadi
(who also holds a science degree, specialising in computer
science), are the symbols of a young Morocco (more than 50%
of the population is under 35 years of age), which wants to
see change, without dramatic revolutions but following a path
of modernity and certainty. ''When we tell businesspeople to
invest in Morocco,'' explained Hamila Hadir, ''we are not
looking for them to delocalise their businesses, but we put
ourselves forward as partners. For what we guarantee (cost of
labour is around one euro per hour), but also the prospects
that we offer with our recognition of the costs entailed in
the training of Moroccan technicians and leaders by foreign
businesses''. Morocco has already won several important
gambles, like the port in Tangiers which experts say could
surpass Rotterdam, in terms of containers shifted, by 2010 -
thereby becoming the most important cargo port in Europe.
However, other than its ties with the EU (through the special
status assigned by Brussels), Morocco also has an eye on the
United States, with which it operates a free trade agreement.
''That means that a businessperson that invests here can
export its products without having to pay tariffs''.
Why then, given all the advantages that Morocco offers, has
Italian investment remained relatively low? ''Italy is
Morocco's third trade partner'', said Hamila Hadir, adding:
''Morocco has somehow escaped investors' attention, as
opposed to Romania, for example. My aim to change this trend
and modify the image of my country''. Even if it has not been
completely reached, this objective is certainly drawing
nearer, as shown by the fact that after years of rejected
applications, in 2009 Moroccan leather goods manufacturers
will be present at Micam, the sector's most prestigious trade
fair. (ANSAmed).