His Majesty The King of Morocco inaugurates the works of the industrial park Atlantic Free Zone

Monday, 26 April, 2010

His Majesty The King Mohammed VI has inaugurated last friday 26 April the works of the industrial integrated platform Atlantic Free Zone, located in kenitra (35 Km from Rabat).

The developers of this project are the spanish company Edonia World, dealing with the development and construction, and the Caisse de Depôt et de Gestion, through its subsidiary company Medz.

The project will start operating by mid 2011 and the estimated total investment is over a billion euros.

The official act of the inauguration of Atlantic Free Zone has consisted in a ceremony where it has been signed the convention for the urbanization, development, promotion, marketing and management of Kenitra´s industrial integrated platform.

This convention gathers the commitment from each part for execution of the project. Atlantic Free Zone is the result of a public-private cooperation between the Moroccan State and the developers, through to:

The Ministry of Industry, Trade and New Technologies.

The Ministry of economy and Finances.

The Ministry of Home Affairs.

The Ministry of Equipment and Transport.

The Ministry of Employment and Vocational Training.

The Fund Hassan II for the economic and social development.

The Willaya of Gharb Charda´s region Bni Hssen.

And the developers, builders group and manager of the project, consist of:

The spanish company Edonia World.

Medz company, subsidiary of the group CDG Development.

In the ceremony realized today, the signatory secretaries of the convention have been present, as well as representatives from Edonia World and Medz, between others.

Atlantic Free Zone is one of the first industrial integrated platforms of last generation and it is directed to industrial sectors, the activities related to the export, industrial logistics as well as to the services that supports the industry ( subcontracting, offices, central business centres, etc.)

Atlantic Free Zone developed according to the National Pact of Industrial Emergence, that looks for the construction of an industrial strong sector. His principal aim consists of formalizing especially the offer of Morocco and of catching investments, both nationals and foreigners.

The aims of this national Moroccan agreement appear in the following way:

Creation of industrial permanent employment.

The reduction of the urban unemployment and of the trade deficit.

The increase of industrial GDP.

The support of the industrial investment (national and foreigner).

The contribution to the conditioning politic of the territory.

This contract-program will alow by 2015:

Create 220.000 employments.

Increase the industrial GDP in 50.000 millions dirhams.

Generate a supplementary volume of exports of 95.000 millions dirhams.

Create 50.000 millions dirhams of private investment in the industrial activity.

The Project

AFZ measuring 350 hectares, is divided into two separate areas: the " Tax-Free Zone", which takes up approximately two thirds of the project, and the " Open Zone", which occupies the remaining third. The first area comprises companies which destine at least 85% of their production to export (outside Morocco). Companies setting up their businesses in this area have a series of tax and customs incentives very attarctive like, amongst others, Company Tax: 0% during the first five years of activity and 8.75% the next twenty years.

The " Open Zone" is for companies that do not have minimum export requirements. A "One-Stop Office" shall centralize and make the contact between the companies installed in AFZ and the administration easier.

The premises are divided into industrial, logistics and offices plots, the geographical centre of the project being intended for the construction of a Hotel and an Exhibition Center, as well as a training center and diverse equipments, included a railway station for the access of the employees and clients.

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