Agence Marocaine de Développement des Investissements (AMDI) was established in 2009 as a national authority that is empowered to attract, promote and develop investments in the country.
Morocco is a strategically important nation for Japanese companies operating in Africa, with around 40 Japanese corporates having a presence in the country.
Through this MOU, signed by MUFG's core banking unit, we will be able to provide stronger support to Japanese clients looking to establish a presence or invest in Morocco. It is one of the bank's key initiatives for promoting African business over the next few years.
In Morocco, as in many other African nations, the rate of Japanese corporate expansion is expected to increase following the fourth Japan-Arab Economic Forum in May 2016, and the sixth Tokyo International Conference on African Development (TICAD), which was held in Kenya on 27-28 August 2016. The latter is regarded as a major platform for Japan and nations from across Africa to collaborate and promote the continent's development.
Masahiro Kuwahara, Chief Executive Officer for EMEA, said:
“This MOU is the first such agreement between a bank and Agence Marocaine de Developpement des Investissements, and thus clearly demonstrates our ardent determination to support Japanese companies as they seek to invest or build a presence in this key African market."