French Public Investments in Morocco to Continue, Including in the Sahara, Announces President Macron

Rabat, October 29, 2024 (MAP) – French President Emmanuel Macron reaffirmed his country’s commitment to public investments in Morocco, including the Sahara region, during an address in Rabat. Speaking at the close of the “Morocco-France Entrepreneurial Meeting,” Macron highlighted Morocco’s status as the French Development Agency’s (AFD) primary investment client and confirmed that AFD will maintain funding for projects across the country, with particular attention to initiatives supported by French companies in the Sahara.

The French President emphasized a mutual economic strategy aimed at equitable and balanced growth, considering the complementary aspects of Moroccan and French industries. Macron highlighted the importance of building industrial partnerships, particularly through integrated value chains, amidst a global trend toward re-regionalization.

Expressing concern, President Macron lamented the challenges facing European and French financial groups compelled to exit African markets due to stringent European regulatory policies, calling it a “grave strategic mistake.” He urged a review of the restrictive norms affecting European institutions.

Organized by the Moroccan Confederation of Enterprises (CGEM) and the French Business Movement (MEDEF) through the France-Morocco Business Leaders Club, the meeting underlined the importance of strategic partnerships, especially during the President’s official state visit to Morocco at the invitation of King Mohammed VI.