AGP Executive Report

Food Innovation: Mohammed V University researchers won two awards in China for work turning argan-oil press cake into nutrient-enriched bread; the project has also led to a Moroccan patent. Medicine Pricing: Morocco’s Competition Council urged a thorough impact study and stronger legal safeguards before changing drug pricing, warning that supply continuity and the medicines regulator’s capacity need attention. Investment: Morocco climbed to fourth in RMB’s African investment ranking, overtaking South Africa as industrial upgrading and automotive growth boost its appeal; vehicle production reached one million last year. Auto Supply Chains: The EU’s proposed “Made in Europe” rules could exclude Morocco from preferred status, putting pressure on a deeply integrated trade relationship as the bloc seeks to support local carmakers. Digital Industry: Tanger Med Zones won UNCTAD recognition for attracting high-skilled digital investment, underscoring the port hub’s growing role in Morocco’s industrial strategy.

Investment Climate: Morocco overtook South Africa to rank fourth in RMB’s 2026/27 African investment index, with industrial growth and infrastructure spending helping lift its position. Automotive production reached 501,965 vehicles in 2025, or 40.8% of Africa’s total, though output fell from its 2024 peak. Public Spending: The 2027 budget sets public investment at MAD 400 billion and proposes affordable rental housing for students and workers. Earthquake recovery spending reached MAD 23.19 billion over 2023–25; 5,741 households had received rebuilding grants by August 2026. Exports & Transport: Morocco shipped 19,000 tonnes of blueberries worth $144 million to the UK in July 2024–June 2025, but proposed new checks could add costs from mid-2027. Baleària’s first fully electric fast ferry is due to connect Tarifa and Tangier from summer 2027. Telecoms: Maroc Telecom Group’s Q3 revenue rose 5.1% to MAD 28.68 billion.

Investment: Morocco rose above South Africa to become Africa’s fourth-most attractive investment destination, with RMB pointing to industrialisation, export diversification and automotive manufacturing. Digital Industry: Tanger Med Zones won a UNCTAD investment-promotion award for attracting high-skilled digital activity, including ALTEN’s engineering and digital-services centre at Tétouan Shore. Automotive: The European auto industry’s ACEA urged the EU to protect existing investments in Morocco under proposed “Made in EU” rules, warning that exclusion could undermine competitiveness and future production plans. Infrastructure and Housing: Morocco’s 2027 budget sets public investment at MAD 400 billion and proposes affordable rental housing for students and young workers, with public land and private operators central to delivery.

Ports & Logistics: Nador West Med and Dakhla Atlantique are nearing service, drawing French and UK interest in corridors linking Morocco to African markets. Telecoms: Maroc Telecom’s Q3 revenue rose 5.1% to MAD 28.68 billion. Investment: French businesses explored opportunities in the southern provinces, including renewable energy, logistics, marine resources and green hydrogen. Transport: Morocco plans a second high-speed rail phase to Agadir. Separately, Balearia’s first electric fast ferry is afloat, with Tarifa–Tangier service planned for summer 2027 and more than €200 million committed to the vessels and port upgrades. Trade & Food: Imports under free-trade agreements rose 7% to MAD 241 billion, with the EU remaining dominant. Brazil’s approval to export live buffalo adds a meat-supply option as Morocco’s 2026 cattle-import quota is exhausted. Water & Finance: Morocco targets 1.8 billion cubic metres of desalinated water by 2031; the AfDB has approved $487 million to support reforms and climate resilience.

Telecoms: Maroc Telecom’s third-quarter revenue rose 5.1% to MAD 28.68 billion, driven by data use and growth across its African markets. Trade: Imports under Morocco’s free-trade agreements climbed 7% in 2025 to MAD 241.3 billion; the EU supplied 68%, while vehicle imports added MAD 7.4 billion. Transport: A new high-speed rail phase is planned toward Agadir, with an Essaouira link also in the 2030–35 programme. Balearia’s first fully electric fast ferry is slated for the Tarifa–Tangier route in 2027, as part of an investment exceeding €200 million that includes port upgrades. Water: Morocco aims to produce more than 1.8 billion cubic metres of desalinated water annually by 2031, with renewable-powered plants and new transport links planned. Energy security: An industry coalition renewed calls to restart the Samir refinery, citing supply risks from international conflict and shipping disruptions.

Water Infrastructure: Morocco aims to produce more than 1.8 billion cubic meters of desalinated water annually by 2031. The plan includes MAD 20.8 billion for water transport links and about 1,000 MW of renewable power for new plants. Food and Household Costs: The 2027 budget sets MAD 19.4 billion for butane, sugar and wheat subsidies. Morocco also approved Brazilian buffalo imports; Brazil supplies over 90% of its imported slaughter cattle this year. Energy Security: A coalition is urging the government to restart the Samir refinery, citing the risks of relying on imported fuel amid global supply disruptions. Electric Mobility: Casablanca hosts the EVS Mobility Expo from October 27 to 29, bringing together vehicle makers, charging and battery suppliers, and investors. Tourism Investment: IFC and Attijariwafa Bank are providing $250 million to expand and upgrade Pickalbatros hotels, with more than 7,500 jobs projected by 2032. Public Investment: Morocco plans MAD 400 billion in public investment for 2027, while the African Development Bank approved $487 million to support economic reforms and climate resilience.

Electric Mobility: Casablanca’s EVS Mobility Expo runs October 27–29, bringing vehicle makers, charging and battery firms, investors and officials together to discuss Morocco’s electric-transport market. Import Costs: A proposed 5% advance tax on imported goods for resale has traders warning of added cash-flow pressure and possible price rises; registered firms may offset it against regular tax bills. Investment: Morocco plans MAD 400 billion in public investment in 2027, targeting infrastructure, energy, water, transport and housing. Tourism Jobs: IFC and Attijariwafa Bank are providing Pickalbatros with $250 million to expand and upgrade hotels, with more than 7,500 jobs expected by 2032. Renewable Energy: Jet Energy plans a Casablanca Stock Exchange IPO to raise up to MAD 375 million for solar and electrical-infrastructure growth; its June order book stood at MAD 1.49 billion. Economic Resilience: The African Development Bank approved $487 million in financing to support Morocco’s reforms and climate resilience.

Investment: Morocco is courting Chinese companies with a focus on market access and local partnerships, while a Somali delegation explored investment prospects in Dakhla. Public Spending: The 2027 draft budget sets public investment at MAD 400 billion, targeting infrastructure, energy, water, transport and housing. Renewables: Jet Energy plans to raise up to MAD 375 million in a Casablanca IPO to expand its solar and electrical-infrastructure business; Morocco has also opened prequalification for 350 MW of solar capacity. Food Industry: A new live-bivalve purification facility near Al Hoceima aims to improve shellfish processing and sanitary standards. Growth Funding: The African Development Bank approved $487 million to support Morocco’s economic reforms and climate resilience.

Food Processing: Morocco opened its first Mediterranean live-bivalve purification facility at Cala Iris, near Al Hoceima. The MAD 1.2 million plant can process five tonnes a week and aims to improve food safety and export access. Livestock Supply: The 2026 duty-free quota of 300,000 imported cattle has been reached; Brazil supplied more than 90%, underscoring Morocco’s reliance on overseas beef to steady markets. 2027 Finance Bill: Proposed tax relief would exempt monthly salaries below MAD 10,000 from income tax, while MAD 6 billion is earmarked for youth jobs, training and business support. Investment & Resilience: The African Development Bank approved $487 million to back economic reforms and climate resilience. Energy Projects: A Qatar-backed developer plans a $239 million sustainable aviation-fuel plant in Nador, while Morocco opened prequalification for 350 MW of solar capacity. Manufacturing: OPmobility opened its fourth Moroccan plant in Kenitra, with more than 100 jobs announced.

Seafood Processing: Morocco opened its first Mediterranean live-shellfish purification facility near Al Hoceima, with capacity of five tonnes a week and potential to support exports and local jobs. Food Supply: The 2026 cattle import quota has been reached at 300,000 head, with imports helping maintain red-meat availability amid drought-driven livestock shortages. Tax Reform: The draft 2027 budget would exempt monthly salaries below MAD 10,000 from income tax, starting next January, and expand support for jobs and households. Fertilizer Supply: Morocco imported 75,060 tonnes of ammonia from China in the first nine months, as supply disruptions push OCP to diversify sources and develop green ammonia. Airport Operations: Rabat-Salé Airport has introduced automated baggage-drop kiosks, with a gradual rollout planned across the national network. Clean Energy: A Qatar-backed developer plans a $239 million green aviation-fuel plant in Nador; Morocco has also opened prequalification for 350 MW of solar projects. Economic Reform: The African Development Bank approved $487 million to support Morocco’s economic reforms and climate resilience.

Fertilizer Supply: Morocco imported 75,060 tonnes of ammonia from China in the first nine months of 2026 as global supply disruptions pushed it to diversify imports. OCP aims to produce 1 million tonnes of green ammonia annually by 2027. Banking: Saham Bank has launched a private-banking and family-office unit for wealthy clients and business-owning families, with digital wealth tools including an AI assistant. Economic Reform: The African Development Bank approved $487 million for reforms, climate resilience and measures to attract private investment. Blue Economy: The World Bank says the sector contributes 3.8% of GDP and supports about 495,000 jobs, while aquaculture remains far below national production targets. Energy Links: The UN Economic Commission for Africa says the proposed Morocco–Nigeria gas pipeline could connect 13 countries and bolster regional energy security. Clean Energy: A Qatari-backed developer plans a $239 million green aviation-fuel plant in Nador, while Morocco has opened prequalification for 350 MW of solar projects.

Prices: Morocco’s CPI rose 1% in September from August, with food prices up 1.6% and fuel up 2%. Rail and Infrastructure: The government’s 2026–2031 program puts rail at the center, including a high-speed line toward Agadir, regional services in five areas and a link to Nador West Med; the current rail investment cycle is valued at MAD 134 billion. Mining: Aya Gold & Silver estimates Boumadine could be worth $3.5 billion after tax, with $463 million in initial capital costs and a projected 14-year mine life. Economic Reform: The African Development Bank approved $487 million to support reforms, private investment and resilience to climate and energy shocks. Energy and Supply: Morocco opened prequalification for 350 MW of solar, while a new China–Morocco route delivered 30,000 tonnes of ammonia, diversifying fertilizer supplies as OCP develops green ammonia production.

Tourism & Leisure: AAAEXPO opened in Rabat, bringing more than 100 exhibitors and industry leaders from around 20 countries to explore investment in attractions and entertainment ahead of Morocco’s 2030 tourism push. Climate Finance: The African Development Bank approved a $487 million package to back reforms, private investment and climate resilience. Water Security: The government plans six new desalination plants, about 400 water structures and expanded inter-basin transfers, while stepping up groundwater controls and wastewater reuse. Renewable Energy: Masen launched pre-qualification for at least 350 MW of solar projects across five regions, supporting Morocco’s 2030 renewables target. Fertilizers & Trade: A new China–Morocco shipping route delivered 30,000 tonnes of ammonia, diversifying supply for fertilizer makers as imported input costs weigh on OCP. Economic Outlook: The new government is targeting average annual growth of 5% through 2031, with inflation near 2%; September inflation returned to 0.5% year on year as food prices rose.

Health Manufacturing: GIGALAB has partnered with more than 60 pharmacy unions to promote Moroccan-made rapid diagnostic tests and train pharmacists. Pharmaceuticals: Laprophan plans to acquire Polymedic’s parent company, pending Competition Council approval, extending its recent expansion through acquisitions. Green Aviation: A Qatari-backed developer plans a $239 million sustainable aviation fuel plant in Nador, using waste oils and fats; the project is among Morocco’s first commercial-scale facilities of its kind. Trade Links: China has launched a direct ammonia shipping route to North Africa with a 30,000-tonne cargo bound for Morocco. Automotive: OPmobility has opened its fourth Moroccan manufacturing site in Kenitra, adding more than 100 jobs. Renewable Energy: Morocco has launched a tender for 350 MW of solar projects under its Noor PV program.

Rally Tourism: The Dakar Rally is expected to move to Morocco in January, with a European prologue and around 12 stages; organisers have yet to confirm the reported change. Fertilizer Supply: A 30,000-tonne ammonia shipment from China has opened a direct Nanjing–North Africa route, diversifying a key input for Morocco’s fertilizer industry. Manufacturing: OPmobility opened its fourth Moroccan plant in Kenitra, adding more than 100 jobs. Clean Fuels: A Qatar-backed company plans a $239 million green aviation-fuel plant in Nador. Energy and Water: Morocco has launched a tender for 350 MW of solar projects and tenders for 11 dams. Economic Plan: The new government targets average annual growth of 5% through 2031 and about one million jobs, but only 250,000 are explicitly described as net new industrial positions. Blue Economy: Coastal industries contribute MAD 46.2 billion and support nearly 495,000 jobs, while climate risks and funding gaps threaten further growth.

Investment Push: Morocco’s 2027 budget draft puts purchasing power and social protection first, while the CGEM has relaunched an industrial project bank to steer private investment toward local production and import substitution. Fertilizer Supply: A 30,000-tonne ammonia cargo has opened a direct China–Morocco shipping route, offering OCP another supply channel as raw-material costs rise. Automotive: OPmobility has opened its fourth Moroccan plant in Kenitra, expanding local production of vehicle body parts. But a proposed EU “Made in Europe” deal would reserve some incentives for vehicles and components made outside Morocco’s current eligible zone, a risk for the Kingdom’s export-heavy sector. Logistics: Hapag-Lloyd will add a China–Tanger Med service in November, strengthening links to Asian suppliers and onward West African markets. Tourism: Morocco plans 60,000 hotel beds ahead of the 2030 World Cup; the sector already generated 7.5% of GDP in 2025. Qatar-backed plans for a $239 million green aviation fuel plant in Nador would add another major industrial investment.