Economy
Morocco is nearing a decision in its ambitious plan to procure 150 regional and commuter trains, with the Spanish company Construcciones y Auxiliar de Ferrocarriles (CAF) and South Korea’s Hyundai Rotem emerging as the final contenders. This follows the exclusion of Talgo, Alstom, and the Chinese......
Despite active exploration efforts and international investment, Morocco's quest to develop substantial natural gas resources continues to yield modest results in the face of rising domestic energy consumption. Sound Energy CEO Graham Lyon highlighted the challenges and opportunities in the country's......
Spain's industrial production saw a modest rise of 0.7% in 2024, marking a recovery from the 1.6% decline in 2023, according to the National Institute of Statistics (INE). Although the growth represents an improvement, it remains lower than previous years, including a 2.3% increase in 2022 and a......
The ambitious Xlinks Morocco-UK power project, set to become the world's longest subsea cable at 4,000 kilometers, is actively seeking political backing to secure its £24 billion ($29.9 billion) investment plan. The project aims to connect Moroccan renewable energy directly to British homes,......
Spanish ferry operator Baleària has announced an ambitious plan to create the first green maritime corridor between Morocco and Spain, featuring two fully electric fast ferries that will operate between Tangier Ville and Tarifa. This groundbreaking initiative is scheduled to commence in 2027,......
In an ambitious move to bolster its energy sector, Morocco has announced plans to construct a new gas power plant with a capacity of 990 megawatts. The project, which is expected to cost approximately 4.15 billion Dirhams (around 420 million dollars), is set to play a crucial role in the country’s......
AXA Assurance Maroc has announced the appointment of Gilles Fromageot as the new Chief Executive Officer of AXA Morocco and the AXA CIMA regions, which include operations in Cameroon, Côte d’Ivoire, Gabon, and Senegal. The appointment, pending regulatory approvals, is set to take effect on......
Tanger Med Port Authority has announced an impressive 18.8% increase in container traffic for 2024, solidifying its position as a leading hub in global maritime trade. The port processed over 10.24 million twenty-foot equivalent units (TEUs) last year, marking a significant leap from its 2023 performance.......
In a significant development for Morocco-Spain relations, the first commercial truck successfully crossed from Melilla into Morocco through the Beni Enzar customs post on Wednesday, marking the end of a six-year closure that began in August 2018. The vehicle, carrying approximately 600 kilograms of home......
In a significant business migration trend, over 360 Spanish companies have relocated their production facilities to Morocco, according to a recent report by the Spanish Institute for Foreign Trade and Investment (ICEX). This strategic move appears to be driven by companies seeking to navigate European......
Morocco's commitment to public investment has shown remarkable growth, with allocations rising from MAD 52.3 billion ($5.1 billion) in 2015 to MAD 119.2 billion ($11.6 billion) in 2023, according to Zineb El Adaoui, First President of the Court of Accounts. In her presentation to parliament's......
Spain and Morocco's bilateral trade has shown remarkable growth in the first ten months of 2024, according to recent data from the Spanish State Secretariat for Trade. Spanish exports to Morocco reached €10.843 billion, marking a 6.8% increase, while Moroccan exports to Spain grew by 9.1% to......
Morocco has solidified its position as Spain's primary source of fresh fruits and vegetables, with exports reaching EUR 801 million between January and October 2024. This represents a significant 13% growth compared to the same period in 2023, according to Hortidaily reports. Spanish fresh produce......
