April 29th to May 4th saw the visit to Morocco and Tunisia by CABC delegation, which was joined in by representatives of CABC member companies. The companies are China Hyway Group, CJ Smart Cargo Group, Zhejiang Financial Asseets Exchange Corporation, Hang Xin Tou Capital, Hangzhou Chifei Technology and Beijing Huaisheng Zhengshang Science and Techonology Development.
The Economic and Commercial Counsellor, Mr. JING Ning introduced the business environment in Morocco
The Ambassoder, Mr. WANG Wenbin and The Economic Counsellor, Ms. ZHANG Fengling introduced the investment environment in Tunisia
Visits were paid to Chinese Embassies in Morocco and Tunisia, the Honorary President of Africa Trade and Investment Promotion Organization, Foreign Investment Promotion Agency of Tunisia (FIPA), Tunisian Agency for Technical Cooperation (ATCT), Union Tunisinne del’Industrie, du Commerce, et de l’Artisanat (UTICA), la Confédération des Entreprises Citoyennes de Tunisie (CONECT) , etc.
Meeting with FIPA
Meeting with ATCT
Meeting with UTICA
Meeting with CONECT International
The CABC Deputy Secretary-General, Mr. BAI Xiaofeng participated in the panel of 2019 AIM Roadshow
As invited by Moroccan Investment and Export Development Agency and the overseas member, Winvest Co.,Ltd. the delegation participated and gave a speech in the 2019 AIM Roadshow held in Rabat, Morocco.
Additional information:
From April 28 to May 4, 2019, the Secretariat of China-Africa Business Council led a delegation composed of a dozen of Chinese entrepreneurs to the Africa Investment Meeting (AIM 2019 Roadshow) co-organized by CABC overseas member, WINVEST Co.,Ltd., in Morocco. Following the meeting, the delegation went to Tunisia and visited companies, associations, and governmental institutes, thus the delegation acquired deeper knowing about the two countries on many different aspects, and formulate the following advice:
Morocco:
1. Influenced by France and Spain, Morocco maintains a good industrial base. While there is still much potential for industries to increase the technological content and additional value. The country is therefore suitable for investment by middle to high-technology companies and middle to high range manufacturing companies, especially those companies that develop vehicle parts and equipment sets.
2. Morocco has a population of around 35 million and average monthly labor cost of $350. The government administers a foreign exchange control and levies a 10% head tax. Foreigners with resident permits can set up foreign exchange banking accounts which will automatically be exchanged to Dirham.
3. Industrial parks are well equipped with infrastructure, which encourages industry clusters hopefully taking in large enterprises.
Tunisia:
1. The scale of its domestic market is limited, while its external market is vast. The country has signed free trade agreements with Europe and other African countries, which enables it to export without tariffs or quota. Its industrial advantage lies in olive oil production, textile and vehicle parts, among others.
2. It’s political environment is getting more stable and helpful for foreign investment.
3. The country has taken a turn from protectionism to be more open. It has launched new investment law and has begun to participate more actively in international competition. Economic growth has increased to 2.5% in 2018 from 1.9% in 2017.
4. In the future, with the lowering of tension in neighboring countries, Tunisian economy will profit.
5. Investment opportunities:
- Tourism: Starting from 2018, the country has witnessed a significant increase in the number of tourists. There’s a need in renewing the accompanying tourist facilities, such as hotels.
- Olive oil exports: Tunisia is the second largest exporter of olive oil and the main destinations are European countries such as Italy and Spain. There’s potential in exporting olive oil to other countries.
- Logistics: With an absence of deep-water ports, cargo needs to switch ships in Malta. Logistics in Tunisia is relatively underdeveloped but has potential. Investment prospects in the field of digital economy and vehicle assembly are also promising.
Lastly, there is an absolute need to take the pre-emptive opportunity.
In this visit, the delegation has established working connections with over 40 institutions and enterprises in Morocco and Tunisia. It also gets access to hundreds of projects in African countries through the AIM Roadshow as well as a number of PPP projects in Tunisia. Basing on the visit, CABC has helped coordinate some members, including China Hyway Group, Smart Cargo Group, Nine Group and the CADFund, to some projects that span the fields of environment, logistics, infrastructure construction, etc.
