Special Economic Zones in the OIC Region:
Learning from Experience
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growth and operation of key assets such as Tanger Med Port which in turn has supported the
rapid growth of export orientated industries within the zones.
Financial and economic climate:
5.4.6.5 Economic stability
Macroeconomic stability is crucial for an ambitious, growing company that may consider
investing in an SEZ. The following indicators show the positive trends taking place in Morocco
during the successful development of the zones.
 High GDP growth over last decade;
 Public debt reduced from 68% to 48% of GDP;
 High level of investments (>30% of GDP);
 Unemployment reduced from 14% to 9%; and
 Reduced inflation (1.8%).
5.4.6.6 Fiscal and financial incentives
Exemption from customs duties and VAT, registration fees and stamp duty on capital and land
acquisition costs, business tax for the first 15 years and corporate tax during the first 5 years (a
fixed rate of 8.75% for the next 20 years) form part of the financial incentives that were set up
in the SEZ. These incentives have offered a competitive advantage for investment. In addition, it
was decided to impose no restrictions on foreign exchange or repatriation of funds, no
restrictions on local/foreign ownership, and no restrictions on investments – at the same level
of rights protection as elsewhere in the world.
5.4.6.7 Strong and supportive banking system
Local actors in the financial services sector, growing internationally through a strong foothold
in Africa, have allowed the financing of large projects (including land, CAPEX and training
programmes)
5.4.6.8 Strong anchor tenants – Renault, Maersk, Arcelor-Mittal, General Electric etc.
Attracting powerful anchor tenants at the outset of the SEZ was crucial in paving the way for
further investments in different sectors. In automotive, Renault decided to build the biggest
plant in Africa in the Tangier region. Renault-Nissan is now the single largest producer of cars
worldwide, and has exported over 1 million cars from the Tangier port. These successful
investments have given credibility to a project and act as catalysts for investments in their
market segment.