AGP Executive Report

Automotive: The sector’s share of Morocco’s exports climbed to 34.68% by August, with exports up 14.5% year on year to MAD 116.14 billion. New Investment: South Korea’s SEOIL opened its first African factory in Settat, with more than 270 jobs planned. Ports & Logistics: Tanger Med’s next expansion will add 4.5 million containers of annual capacity by 2031; Nador West Med is also nearing its first terminal opening. Pharmaceuticals: Laprophan has launched a Casablanca IPO, while Sothema agreed to acquire Ramo Pharm, signaling fresh activity in the domestic drug industry. Workforce Rules: A proposed 2027 Labour Code overhaul would set rules for remote work, platform jobs and part-time contracts.

Ports & Logistics: Dockworkers’ action reached Tangier Med on Friday, as unions across 113 ports in 22 countries protested arms shipments and demanded better conditions; the scale of disruption remains uncertain. Industrial Investment: Morocco’s manufacturing momentum is drawing attention, while Korea’s SEOIL is opening its first African factory in Settat, with more than 270 jobs planned. Port Expansion: APM Terminals has signed a new concession for the next phase of Tanger Med as Nador West Med prepares to begin operations and Tanger Med 3 advances. Capital Markets: Pharmaceutical group Laprophan has opened a Casablanca IPO valued at MAD 2.22 billion, offering shares at MAD 341 each. Agrifood: At SIDATTES in Erfoud, Morocco’s date sector is showcasing innovation, including a Marrakech lab where women make up 75% of staff.

Ports & Logistics: Morocco has signed a new concession with APM Terminals for Tanger Med 3, while Nador West Med’s first terminal is due to begin operations shortly. Dockworker actions planned for Oct. 30 also include Tangier Med, though disruption remains uncertain. Manufacturing: South Korea’s SEOIL opened its first African factory in Settat, creating more than 270 direct jobs. The plant will make six billion straws annually, with 95% of output destined for export. Capital Markets: Pharmaceutical group Laprophan won approval for a Casablanca IPO of up to MAD 2.22 billion. Proceeds will support industrial investment, expansion and a planned acquisition. Trade: A Korean business mission met Moroccan distributors and industry officials to explore export opportunities for cosmetics, medical supplies and food products. Agriculture: Morocco’s sheep sector supports about 1.1 million farming households, with around 23 million sheep nationwide. Certain rams can sell for up to €1,000.

Ports & Logistics: King Mohammed VI reviewed Nador West Med, whose first terminal is due to open within days, and Tanger Med 3, with construction set to begin. The projects aim to strengthen trade links and spread investment regionally. Pharmaceuticals: Laprophan won approval for a Casablanca IPO of up to MAD 2.22 billion ($228 million). Proceeds will fund industrial expansion, acquisitions and balance-sheet improvements. Healthtech: ABA Life secured a $40 million investment from Admaius Capital Partners, pending regulatory clearance, to expand AI health services and enter international markets. Manufacturing: France and Germany’s proposed “Made in Europe” rules could exclude Moroccan-made cars from some EU subsidies and procurement, though not block imports. Tata is also weighing production of a second armoured vehicle at its Berrechid factory. Public Investment: Lawmakers questioned whether the 2027 budget’s MAD 400 billion investment plan will benefit underserved regions, alongside concerns over health staffing and tax cuts. Trade: Russia is testing a new Arctic grain route, with a vessel carrying wheat expected to sail from Murmansk to Casablanca.

Ports & Logistics: Nador West Med’s first container terminal is expected to open within days, while construction of Tanger Med 3 is set to begin soon. The projects add major capacity and are expected to create tens of thousands of jobs. Investment Climate: Morocco rose to fourth place in RMB’s Africa investment ranking, overtaking South Africa, with industrial growth, export diversification and infrastructure investment cited as strengths. Manufacturing: Guizhou Tyre has broken ground on a Moroccan factory, with production expected to start in late 2027. Food Innovation: Mohammed V University researchers won awards for developing enriched bread using argan press cake, turning an oil-processing by-product into a potential food ingredient. Telecoms: Maroc Telecom reported third-quarter revenue of MAD 28.68 billion, up 5.1% year on year.

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.