Creation of a New Tourism Investment Fund
King Mohamed VI and the Emir of Qatar, Sheikh Hamad ben Khalifa Al Thani, have together signed an agreement creating a tourism investment fund worth more than 2 billion Euros.
The fund, called Wessal Capital, has been created with Moroccan tourism investment funds and state investment by Qatar, the United Arab Emirates and Kuwait.
The funds will finance the Vision 2020 tourism plan, through which Morocco intends to eventually attract 20 million tourists. Tourism currently contributes to 10% of Morocco’s GDP, with annual growth of 12% over the last 10 years.
The fund’s manager, Mr Tarik Senhaji, states that the contributions received are planned to be used in an investment program stretching over 10 years, funding innovative projects, with high returns for the investors.
For the full article, please visit:
http://www.aufaitmaroc.com/economie/tourisme/2011/11/27/creation-dun-fonds-dinvestissements-touristiques
The fund, called Wessal Capital, has been created with Moroccan tourism investment funds and state investment by Qatar, the United Arab Emirates and Kuwait.
The funds will finance the Vision 2020 tourism plan, through which Morocco intends to eventually attract 20 million tourists. Tourism currently contributes to 10% of Morocco’s GDP, with annual growth of 12% over the last 10 years.
The fund’s manager, Mr Tarik Senhaji, states that the contributions received are planned to be used in an investment program stretching over 10 years, funding innovative projects, with high returns for the investors.
For the full article, please visit:
http://www.aufaitmaroc.com/economie/tourisme/2011/11/27/creation-dun-fonds-dinvestissements-touristiques
