By Zaher Bitar, Senior Reporter
Dubai: The Moroccan government will invest $10 billion (Dh36.7 billion) in development projects in the city of Tangier and is looking to target investments from the UAE for these projects, according to Saida Al Matalsi, deputy mayor of Tangier.
“The city of Tangier is living under the rhythm of construction and enjoying structured and world-class infrastructure. It hosts major international investments projects,” she said on Thursday, the closing day of the Annual Investment Meeting 2014 (AIM) in Dubai.
Tangier is a tourism and investment hub on the Mediterranean Sea and a gateway between the Middle East, Africa and Europe.
By 2020, this city is expected to attract almost three million visitors per year, 15 per cent of the 20 million tourists expected to visit Morocco.
Tangier still represents real opportunities in various fields like industry, trade, tourism and construction, Saida said.
Tangier’s port and Express Railway, which are expected to start operations by 2016, are the two main development projects.
As part of our strategic partnership with the UAE, we would like to attract investments from the country to develop these projects, she added.
“We are here to strengthen the bilateral and strong historical relations between the UAE and Morocco as well showcase the most promising sectors of investments in Tangier and ensure [we attract] these investments from the UAE,” Saida said.
Highlighting the importance of Dubai’s success story, she said that Dubai has achieved tremendous developments in the construction, commercial, industrial and financial fields.
“Our participation in the AIM will enable us to benefit from these achievements and allow the exchange of experience between the two cities as well as evaluate investment opportunities,” Saida added.
