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Tourism: A 20.8 billion Dirham investment under a Morocco-Gulf partnership
11/25/2011 - Général

An agreement establishing the "Wessal Capital" Fund was signed yesterday between the Moroccan Fund for Tourism Development (FMDT) and "Qatar Holding LLC" (Qatar), "Aabar Investments PJS" (UAE) and Kuwait Investment Authority "Al Ajial Investment Fund Holding". The MAD 20.8 billion "Wessal Capital" Fund will help carry out the proactive engagement adopted in the tourism sector to boost investments supporting the implementation of major Vision 2020 projects. On the occasion of the signing, the General Manager of the Moroccan Fund for Tourism Development, Mr. Tarik Senhaji, gave a presentation on the partnership in tourism between Morocco and Qatar, Kuwait and the UAE. Mr. Senhaji also stressed that the tourism sector made a qualitative leap in the last decade thanks to Vision 2010 - the ambitious tourism development strategy launched in 2001 under the leadership of His Majesty the King. The tourism sector, he noted, currently contributes 10% to the Kingdom's GDP, with an annual growth rate of 12% over the past 10 years, reminding that Morocco welcomes 10 million tourists each year.

 

Source : Infomédiaire