MOROCCO DESTINATION FOR INVESTMENT IN THE
25 automobile multinationals have landed in the country during 2016
Morocco is established as a reference destination for international motoring industry. Months ago, Valeo , the French giant of components and car replacements, announced its commitment of building a factory at the industrial zone in Tangier dedicated to car component industries. A project that, with a total of 50 million in investments in the first phase, will improve significantly the local supplying rate of Renault factory in Tangier Med. More recently, specifically last week, the Japanese glass manufacturer, Asahi Glass Corporation (AGC), started investing in the construction of a factory where 1.1 million of units of tempered glass for car back windows, side windows and windscreens are going to be produced.
Both companies show the good progress of the car industry in Morocco, butthey are not the only ones. So far this year, more than 25 factories relating to this sector have opened in the regions of Tangier, Casablanca, Kenitra or Meknes. Multinationals like RG Fixations, Valeo, Linamar, Mecaplast, Relats, Asahi Glass, Kansai Paint, Afagomma, Novaerum, Teknia, Viza, Cover Car, Te Connectivity, Sigit, Standard Profil, Treves, Snop, Acome, Faurecia, Simoldes, Yazaki, Linamar or Delphi are in the list of car component industries that have confirmed new investments in the country. In fact, the number of new contracts rises to 10 thousand million DH (around 1000 million euro), according to Asociación del Automóvil (AMICA).
According to AMICA, this increase in the investments responds to a new phase, in which it is expected to attract the arrival of manufacturers of component of rank 2 and 3, and with this to improve the competitiveness of the industries already installed in Morocco. Likewise, the same sources point out the dragging effect caused by the Ford announcement of ending supplying contracts with a value of 300 million dollar.