This Tuesday in Rabat, Morocco and France called on the Mediterranean Union, the EU, and the European Investment Bank “to implement a plan for innovation and for small and medium-sized enterprises,” in the region, according to the Moroccan official news service.
Moroccan Industry, Trade and New Technologies Minister Ahmed Réda Chami and his French counterpart, Minister Eric Besson, minister of Industry, Energy and Digital economy, signed the joint statement.
The statement singled out digital technology and renewable energy firms as those ripe for heightened competition.
A recent report by Pyramid research singled out Morocco as a sound investment choice for Telecommunications investments. Egyptian companies are also confident that telecommunications penetration will grow in the coming years.
North Africa has seen increased investment in renewable energy in particular. North African Solar energy is likely to be a bull market, as the countries all have vast tracts of unused desert land. It is estimated that enough sunlight falls on the Sahara in an hour to power the earth for a year.
Developing economies are predicted to drive most of the growth of renewable energy. New investment in green technology in the Middle East and Africa doubled in 2010 to $5 Billion, according to Bloomberg new energy finance.
