This huge project is part of the memorandum of understanding that was signed between Morocco and the Chinese Group HAITE. Its aim is to strengthen the strategic partnership linking the two countries, further underlining the strong desire of Morocco to boost economic cooperation with China. This new deal may be surprising but has to be considered in the context of increasing salaries, forcing China to develop its investments in emerging countries to remain competitive. Thanks to its various sector based plans and general industrial acceleration plan Morocco is a perfect candidate. This project is also aimed at easing the introduction of Chinese entrepreneurs to the African market.
For Mr El Alamy, Minister for Industry, Commerce, Investment and the Digital Economy, “The textile, automobile and aeronautic industries represent strategic areas for this industrial site, which will be cover an area of between 1,000 and 2,000 hectares. This is thanks to a strategic partnership with the Chinese Group HAITE, one of China’s industrial leaders. This will allow us to benefit from the group’s economic model and to encourage other Chinese investors to establish themselves in Morocco.”
According to the president of the Regional Council for Tangier-Tetouan-Al Hoceima, Ilyas El Omari, “This project represents a new milestone in the development of the Strategic Partnership between Morocco and China.”
The Director of the Commerce department in Qingdao, Guo Qizhou, paid tribute to the excellent historic relationships linking Morocco and China, and underlined the desire of his country to further strengthen cooperation with Morocco in numerous fields.
The president of the HIATE Group, Li Biao, recognized the strong, far-sighted vision of HM King Mohammed VI in achieving this strategic project and strengthening the economic cooperation between Morocco and China. He noted that this industrial and residential park will create many jobs, promote the transfer of advanced technology and boost economic growth and competitiveness in Morocco and more specifically the Tangier-Tetouan-Al Hoceima region.