According to Mr. Jawad Ziyat, Investment Director at the Economy, Finance and Tourism Ministry `all these projects were signed over the past year and a half, and 80 percent of them are foreign investments.` Mr Ziyat spoke at a forum on capital markets and investment, which organized for the first time in Morocco by the national Association of Brokerage Companies. The event was ending on Friday after two days of lectures.
The number of international visitors, most of them from France, Spain and Germany, is likely to be over 2.5 million, up from 2.35 million last year, government officials said. Ziyat noted that 25 percent of Moroccan hotels now have non-Moroccan owners, up from 15 percent in 1990, and stressed the need to attract more international leisure groups. `Morocco needs their know-how and capacity to raise funds but, in turn, we must be competitive and provide returns on investments comparable to international norms,` he said.
Otherwise, he warned, these investors will look elsewhere, noting that nearby tourism destinations like Tunisia and Spain`s Canary Islands already had 150,000 beds to offer.
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