Boeing’s presence in the North African Kingdom continues to grow
On September 27th, 2016 King Mohammed VI chaired a ceremony in the Royal Palace in Tangiers, during which he signed an agreement with Boeing in which they agreed to construct an industrial ecosystem, including a well-organized sourcing platform and list of up to 120 Boeing suppliers that would be based in Morocco.
It will also include the creation of over 8,700 specialist jobs and its exports are expected to generate over $US 1 billion of turnover annually.
All and any specialist training requirements needed to ensure the success of the ecosystem will be organized and implemented and managed by Boeing.
A Boeing industrial ecosystem in the North African Kingdom
International confidence in Morocco continues to grow, in fact the aeronautics sector in Morocco has grown significantly over the last 10 years and continues to grow by approximately 7% every year. The country already currently manufactures and supplies aircraft parts not only for Boeing but also for Airbus, Bombardier and Dassault Aviation. This is currently worth over $US 590 million in exports, which is over 3.5% of Morocco’s total exports.
The Industrial Acceleration Plan
The agreement between Boeing and Morocco is just a part of the massive growth and development seen in the aviation sector since April 2nd, 2014 when the Industrial Acceleration Plan was launched.
At the beginning of the ceremony, Moulay Hafid Elalamy, the Minister of Industry, Investment, Trade and the Digital economy strongly supported the abilities of Morocco to add value to high value and complex aspects of the aeronautics sectors. He later went on to say that he truly believed that the ecosystem would give a real boost to the aviation sector as a whole, using similar recently developed ecosystems, such as the one with Renault as an example.
The President of Boeing said that the strategy was very exciting, “Boeing is proud of the trusting relationship we had with Morocco and its aviation industry for nearly 50 years”, the “Kingdom offers unique opportunities that will benefit Boeing and our extended supply chain.”. “We are signing a significant agreement to enable more foreign investment and development of the aerospace industry here,” he said, “we have collaborated with the government to develop an integrated industrial program of incentives to bring more Boeing suppliers to Morocco.”.
Existing presence in the Kingdom
There is already a joint venture running between Boeing and Safran in Casablanca, and the Vice Chairman of Boeing recently said, “Through our business in Casablanca, we have already seen with our own eyes the unique opportunities offered by Morocco to aeronautics subcontractors in terms of cost effectiveness, all while producing quality products,”.
Morocco is continuing to position itself as a major gateway to both European and African markets for US companies. Very targeted recent economic reforms intended to make Morocco a top destination for all foreign investors have assisted in this.
Image source: www.moroccoworldnews.com