Boeing and Morocco have reached an agreement to create a Boeing industry ecoystem in the Kingdom.
Morocco, a growing aeronautic portal
The agreement that The Boeing Company and the country announced means that Morocco will become a Boeing ecosystem hub. The Seattle-based jet maker will actively seek to attract suppliers to Morocco. Target is to attract 120 suppliers with an export value of $1B and create 8,700 jobs in Morocco.
Boeing refused to disclose whether any supplier had already committed to contributing to the Boeing ecoystem.
In recent years Morocco has grown into a pleasurable country to invest in. Amidst the Arab Spring, the country has remained fairly stable. The country offers decent political and economic stability, a potential beneficial set up of cost structures.
Boeing has been active since 2001, so is familiar with the advantages the North African country offers. Also Airbus and Bombardier have invested in Morocco in recent years. The Moroccan aeronautics industry has grown by 7% on average.
On behalf of Boeing, Conner said:
“Through our business in Casablanca, we have already seen with our own eyes the unique opportunities offered by Morocco to aeronautics subcontractors in terms of cost effectiveness, all while producing quality products,” On behalf of the North African country the Minister of Industry, Trade, Investment and the Digital Economy Moulay Hafid Elalamy said:
The Moroccan aeronautics industry has seen, thanks to [the vision of King Mohammed VI], huge growth these last few years. The sector has multiplied by six in 10 years and today boasts 121 companies,” said Mr. Elalamy at the signing ceremony, which was chaired by King Mohammed VI in Tangier.
Next to being an attractive investment environment for jet makers, car makers and renewable energy companies have also heavily invested in the country over the last year.
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