Egypt, S.Arabia step up trade ties through coordination council talks    Egypt reviews progress on $200m World Bank-funded waste management hub    Egypt urges Israel to accept Gaza deal amid intensifying fighting    SCZONE showcases investment opportunities to eight Japanese companies    Egypt, ADIB explore strategic partnership in digital healthcare, investment    SCZONE, Tokyo Metropolitan Government sign MoU on green hydrogen cooperation    Egypt welcomes international efforts for peace in Ukraine    Al-Sisi, Macron reaffirm strategic partnership, coordinate on Gaza crisis    Contact Reports Strong 1H-2025 on Financing, Insurance Gains    Egypt, India's BDR Group in talks to establish biologics, cancer drug facility    AUC graduates first cohort of film industry business certificate    Egyptian pound down vs. US dollar at Monday's close – CBE    Egypt's FM, Palestinian PM visit Rafah crossing to review Gaza aid    Egypt prepares unified stance ahead of COP30 in Brazil    Egypt recovers collection of ancient artefacts from Netherlands    Egypt harvests 315,000 cubic metres of rainwater in Sinai as part of flash flood protection measures    Egypt, Namibia explore closer pharmaceutical cooperation    Fitch Ratings: ASEAN Islamic finance set to surpass $1t by 2026-end    Renowned Egyptian novelist Sonallah Ibrahim dies at 88    Egyptian, Ugandan Presidents open business forum to boost trade    Al-Sisi says any party thinking Egypt will neglect water rights is 'completely mistaken'    Egypt's Sisi warns against unilateral Nile measures, reaffirms Egypt's water security stance    Egypt's Sisi, Uganda's Museveni discuss boosting ties    Egypt, Huawei explore healthcare digital transformation cooperation    Egypt's Sisi, Sudan's Idris discuss strategic ties, stability    Egypt to inaugurate Grand Egyptian Museum on 1 November    Greco-Roman rock-cut tombs unearthed in Egypt's Aswan    Egypt reveals heritage e-training portal    Sisi launches new support initiative for families of war, terrorism victims    Egypt expands e-ticketing to 110 heritage sites, adds self-service kiosks at Saqqara    Palm Hills Squash Open debuts with 48 international stars, $250,000 prize pool    On Sport to broadcast Pan Arab Golf Championship for Juniors and Ladies in Egypt    Golf Festival in Cairo to mark Arab Golf Federation's 50th anniversary    Germany among EU's priciest labour markets – official data    Paris Olympic gold '24 medals hit record value    A minute of silence for Egyptian sports    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Morocco: Paths to progress
Published in Daily News Egypt on 08 - 12 - 2010

Optimism in Morocco's business environment, seen in recent World Bank plaudits for its measures to protect investors, is likely to be further boosted by a series of major transport infrastructure projects that are under way.
Speaking at a World Economic Forum conference held in Marrakech in October, Karim Ghellab, equipment and transport minister, noted that the country has earmarked €11 billion for transport improvements between 2008 and 2012.
“In the last ten years, Morocco has quadrupled its investments in transport infrastructure,” Ghellab was quoted as saying by Moroccan News Agency, MAP. “Morocco is capitalizing on infrastructure because improving infrastructure is likely to contribute to both economic and human development,” he said.
In-keeping with the government's plans to attract more Foreign Direct Investment (FDI), the minister mentioned the launch of several infrastructure projects such as a Tangier-Med port complex and motorway network. Another area seen as key to modernization is the upgrade of rail links.
A Casablanca-Tangier high-speed rail line commenced construction in June. It is expected to be completed in 2014 and begin commercial use a year after. The Dh20 billion (€1.82 billion) project, which is being handled by French rail company SNCF, will eventually be extended to Marrakech.
Tracks have already been laid for a 19-km, 31-station tram network between Rabat and Sale which will cross the Bou Regreg River, and drivers are now being trained to begin work by the end of this year. The network, expected to cost Dh4 billion (€365 million) will be able to carry some 180,000 people per day. It will connect major public facilities such as rail stations, hospitals and universities to the main residential areas.
The government is also developing a tram system for Casablanca that, when completed, is expected to reach 76 kilometers in length. Turkish construction firm Yapi Merkezi won the first major construction contract for this project in mid-August. The company will be building the platforms and laying track for a 30-kilometers stretch of the network between Sidi Moumen and Hay Mohammad. Tender rounds for two other sections of the network will be launched soon.
France's Systra, an international consulting firm that specializes in rail and urban transport projects, is heavily involved in the project, with the French government providing Dh6.8 billion (€620.2 million) in preferential loan funding and the balance made up of Dh5.5 billion (€501.6 million) in other loans, Dh1.9 billion (€173.3 million) in grants, Dh4.8 billion (€437.8 million) from the Moroccan government budget, and Dh1 billion (€91.2 million) from the Hasan I Fund for Economic and Social Development. Work is expected to be completed in 2014, with operational testing and use to begin in 2015.
As for conventional rail, the country already has a track in place from its main northern line to the port of Nador and there are plans to extend this network to Agadir on the Atlantic coast and perhaps Laayoune in Western Sahara.
Rail is not the only form of transport that is being upgraded and expanded.
A new terminal is under way at Marrakech Menara International Airport that will double its capacity and a €56 million upgrade of the Fez Saiss Airport is also in the works. Both projects are being financed by loans from the African Development Bank.
As the country continues to expand its transportation networks, not only to more traditional areas such as Europe but also to the rest of Africa and the Gulf, investors will find it easier to do business in Morocco. A recent World Bank report commended the country for strengthening protection of investors, also highlighting significant progress in simplifying business procedures, which holds promise for future investors, particularly in the growing transport sector.
The World Bank's “Doing Business 2011” report lauded Morocco's efforts to attract and protect investors, citing the recent decision to reduce minimum capital requirements from Dh30,000 (€2736) to Dh1000 (€91).
This has contributed to a 40 percent increase in the number of established firms and Morocco is now considering abolishing the requirement altogether.


Clic here to read the story from its source.