On March 29, the signing ceremony of the investment agreement between beiteri New Materials Group Co., Ltd. and the Moroccan government was held in Rabat. Chinese Ambassador to Morocco Li Changlin, Prime Minister Ahnush Akhnush, Minister of Economy and Finance Allawi, Minister of Industry and Trade Mezur, Minister of Employment and Skills Training Sekuri, Minister of Investment Policy Jezuli, Chairman of the Board of Directors of beiteri Group He Xueqin, Counselor Zheng Wei of the Embassy in charge of Economic Affairs and other Chinese and foreign guests attended the ceremony.
Ambassador Li Changlin said in his speech that the signing of the investment agreement between beiteri and the Moroccan government marks another important progress in the Mohammed VI Tangier Science and Technology City project, which is of common concern to the heads of state of China and Morocco. This is a new achievement of the joint efforts of China and Morocco, and a new example of the thriving economic and trade cooperation between the two countries. Morocco has unique geographical advantages and a safe and stable business environment, which is favored by the majority of investors, including Chinese enterprises. In recent years, China and Morocco have continuously strengthened the synergy of development strategies, and the pragmatic cooperation between the two countries has ushered in a "golden period" of rapid development. In 2023, the trade volume between China and Morocco exceeded US$7 billion, and China's new direct investment in Morocco increased by 20.2% year-on-year. Tangier Science and Technology City, a landmark project of mutually beneficial cooperation between China and Morocco, has entered the implementation stage, and Qingdao Sen Kirin Company, the first enterprise to enter the park, has started to build a factory, and many enterprises have also settled in the park. It can be said that at present, the two countries understand each other's advantages better than at any other time in history, and the potential of economic and trade cooperation is being unleashed in a steady stream.
Ambassador Li Changlin pointed out that at present, China is comprehensively promoting Chinese-style modernization with high-quality development and continuing to expand high-level opening-up. The Moroccan government has recently issued documents such as the New Investment Act and the Moroccan Plan for Green Hydrogen Industry. China and Morocco share the same development concepts, development interests and development goals, and the cooperation between the two sides has great potential and broad prospects. Standing at a new starting point, China is willing to continue to work with Morocco to further explore new highlights of bilateral cooperation, especially in the fields of clean energy, new energy vehicle batteries, industrial parks, etc., and constructively participate in infrastructure projects related to the 2025 Africa Cup of Nations and the 2030 World Cup of Morocco, so as to inject new impetus into the development of the strategic partnership between the two countries.
Prime Minister Akhnush welcomed the investment of beiteri in Morocco, emphasizing that this is the first investment agreement in the field of new energy materials signed by the Moroccan government, which once again demonstrates the depth and breadth of the strategic partnership between Morocco and China. The Tangier Technopolis project is an important outcome of King Mohammed VI's visit to China in 2016 and an important symbol of the high-quality Belt and Road cooperation between the two countries. It is a great pleasure to see that with the joint efforts of both Morocco and China, the Science and Technology Park project has made substantial progress, and it has recently ushered in good news one after another. At present, the Moroccan government is fully implementing the "New Investment Act" under the leadership of King Mohammed VI, and more Chinese enterprises are welcome to invest in Morocco. We are full of confidence in the ability and level of Chinese enterprises, and believe that beiteri's "joining" will contribute to the transformation and upgrading of the Moroccan industry and improve its international competitiveness. The Moldovan government will continue to work to create a good business environment, deepen and expand practical cooperation between Morocco and China, and continuously enrich the content of the strategic partnership between the two countries.
The ministers of the Moroccan government who attended the signing ceremony expressed their appreciation for the presence of beiteri in Tangier Science and Technology City, emphasized the fruitful and mutually beneficial practical cooperation between the two countries, and thanked China for its contribution to improving the level of its own industry, employment and green development, and believed that the strategic partnership between the two countries will usher in a brighter future.
According to the agreement between the two parties, the beiteri project is located in Momohammed VI Tangier Science and Technology City, aiming to build a cathode material manufacturing plant to produce key materials for lithium-ion batteries, which will be carried out in stages. The project covers an area of 156053 square meters, with a total investment of about 489 million US dollars, and is expected to start construction in the second quarter of this year, with an annual output value of 1 billion US dollars after full production.