Bank of China in Morocco: What Its Growing Role Means for Chinese Investment and Manufacturing

中国银行加强摩洛哥布局：中国企业投资与建厂进入新阶段

Bank of China is strengthening its engagement in Morocco as Chinese investment in the country moves from traditional trade and infrastructure contracts toward large-scale manufacturing, batteries, automotive components, renewable energy and other industrial projects.

The September 2026 visit of Bank of China Chairman Ge Haijiao (葛海蛟) to Morocco provides another indication of how the China–Morocco economic relationship is evolving.

During his visit, Ge Haijiao met senior Moroccan government and financial officials, including Minister of Economy and Finance Nadia Fettah Alaoui, Bank Al-Maghrib Governor Abdellatif Jouahri, and Attijariwafa bank Chairman and CEO Mohamed El Kettani.

Discussions included industrial development, strategic projects, project finance, RMB-related financial services, capital markets and support for Chinese companies investing in Morocco.

No specific new Bank of China loan or financing package for a major Chinese industrial project in Morocco was announced during these meetings.

The significance lies elsewhere.

As more Chinese manufacturers establish factories in Morocco, the financial infrastructure surrounding Chinese investment in Morocco is also beginning to develop.

Chinese Investment in Morocco Is Moving from Trade to Manufacturing

China–Morocco economic relations have changed considerably over the past decade.

Chinese companies have long supplied machinery, equipment and infrastructure services to the Moroccan market.

Today, however, a growing number of Chinese industrial groups are establishing local manufacturing operations in Morocco.

This is particularly visible in the battery and electric vehicle supply chain.

Major Chinese-linked industrial projects include Gotion High-Tech in Kenitra, BTR New Material Group in Tanger Tech, CNGR/COBCO in Jorf Lasfar, Hailiang in Tanger Tech and Shinzoom in Tanger Tech.

Chinese investment is also expanding into automotive components, wind energy, textiles, renewable energy infrastructure and advanced manufacturing.

This represents an important structural shift:

China–Morocco trade → Chinese investment in Morocco → Local manufacturing → Financial services → Industrial ecosystem

For Chinese manufacturers considering Morocco as an overseas production base, this evolution has practical implications.

Why Is Bank of China Increasing Its Focus on Morocco?

Bank of China has maintained a representative office in Casablanca, Morocco, since 2016, the same year China and Morocco established their strategic partnership.

Its role is becoming increasingly relevant as Chinese industrial investment expands.

Bank of China has described Morocco as an important platform for developing business in North Africa, accessing West African markets and supporting Europe–Africa economic connections.

During the September 2026 meetings, discussions with Moroccan institutions included several areas directly relevant to Chinese companies operating internationally.

These included:

Project finance and investment financing

Large factories require considerably more sophisticated financial structures than traditional export transactions.

RMB settlement and cross-border payments

Chinese companies operating factories in Morocco may need to manage financial flows between Chinese headquarters, equipment suppliers, Moroccan subsidiaries, customers and international markets.

Capital markets

As Chinese industrial operations in Morocco become larger, financing requirements may increasingly extend beyond traditional corporate banking.

Cooperation with Moroccan banks

Chinese companies establishing local entities must also operate within Morocco's banking, foreign-exchange and regulatory environment.

This makes cooperation between Chinese and Moroccan financial institutions increasingly important.

What Does This Mean for Chinese Companies Building Factories in Morocco?

For a Chinese manufacturer evaluating how to build a factory in Morocco, finding industrial land is only one part of the project.

A successful industrial investment requires several decisions to be coordinated from the beginning.

1. Morocco Industrial Site Selection

The first question is not simply where industrial land is available.

Companies need to determine which Moroccan industrial ecosystem best matches their project.

Depending on the industry, investors may evaluate locations around Tangier, Kenitra, Casablanca, Jorf Lasfar, Nador or other Moroccan industrial regions.

Important criteria can include:

• Industrial land availability

• Electricity capacity

• Water requirements

• Wastewater treatment

• Environmental requirements

• Distance to ports

• Customer proximity

• Supplier ecosystem

• Workforce availability

• Investment incentives

• Expansion capacity

For large battery, chemical or energy-intensive projects, utility capacity and environmental requirements can sometimes be more important than the land price itself.

2. Financing a Factory in Morocco

Industrial investment requires an appropriate capital structure.

A Chinese investor may need to coordinate funding between the Chinese parent company, Moroccan subsidiary, Chinese financial institutions, Moroccan banks and potentially international development institutions.

The growing dialogue between Bank of China and Morocco's financial institutions therefore deserves attention.

It does not mean that financing will automatically be available to every Chinese project.

But it indicates that China–Morocco investment financing is becoming a more important part of the bilateral economic relationship.

3. Cross-Border Capital and Foreign Exchange

A factory in Morocco can involve several currencies.

Capital expenditure may originate in China. Machinery may be purchased from Chinese suppliers. Local expenses are generally paid in Moroccan dirhams, while exports may generate revenues in euros or US dollars.

Companies therefore need to consider their banking and foreign-exchange structure early in the investment process.

The discussion of RMB-related cooperation between Bank of China and Moroccan financial institutions is particularly relevant in this context.

4. Morocco Investment Incentives and Government Approvals

Financing cannot be separated from the overall investment structure.

Depending on the project, Chinese investors may need to evaluate:

• Morocco's Investment Charter

• Regional or national investment incentives

• Industrial-zone requirements

• Environmental approvals

• Construction permits

• Utility connections

• Customs arrangements

• Import procedures

• Employment commitments

• Investment agreements with public authorities

For major industrial projects, these elements should ideally be assessed before the final site decision.

5. From Factory Construction to Local Operations

Building the factory is only the beginning.

Once production starts, Chinese manufacturers need a functioning local organization covering areas such as:

HR and recruitment → Payroll and compliance → Accounting and taxation → Logistics and customs → Local suppliers → Equipment and maintenance → Employee transportation → Banking → Administration

This is why the development of an industrial ecosystem around Chinese investment is important.

Factories need more than industrial parks.

They need an entire network of financial institutions, suppliers, professional services, infrastructure providers and local operational partners.

Morocco's Emerging China-Linked Industrial Ecosystem

The evolution taking place in Morocco can therefore be viewed in several stages.

Stage 1 — Trade

Chinese companies export products, machinery and equipment to Morocco.

Stage 2 — Infrastructure

Chinese engineering and construction companies participate in Moroccan infrastructure and energy projects.

Stage 3 — Industrial Investment

Chinese manufacturers establish factories and production capacity directly in Morocco.

Stage 4 — Financial Infrastructure

Chinese and Moroccan financial institutions develop deeper cooperation around investment, project finance, cross-border transactions and capital markets.

Stage 5 — Local Industrial Ecosystem

Suppliers, logistics providers, recruitment companies, engineering services, professional advisers and other supporting industries develop around these manufacturing investments.

Morocco increasingly appears to be moving from Stage 3 toward Stages 4 and 5.

Why Morocco Is Attracting Chinese Manufacturers

The growth of Chinese manufacturing investment in Morocco is not based on one factor alone.

Morocco combines several characteristics that can be attractive to export-oriented manufacturers:

Proximity to Europe

Northern Morocco is located close to Southern Europe, allowing relatively short maritime connections with European markets.

Port infrastructure

Tanger Med has developed into a major logistics and industrial platform connecting Morocco with Europe and international shipping routes.

Automotive manufacturing ecosystem

Morocco has developed a substantial automotive manufacturing and supplier base around Tangier and Kenitra.

Growing battery value chain

Recent investments are creating an increasingly significant ecosystem around battery materials and future battery manufacturing.

Industrial zones

Different regions provide industrial platforms suited to automotive, battery materials, chemicals, textiles and other manufacturing activities.

Export-oriented manufacturing

For many Chinese manufacturers, Morocco can serve not only the domestic Moroccan market but also international markets.

However, the suitability of Morocco varies considerably depending on the project.

A battery-material factory, automotive supplier, textile manufacturer and renewable-energy equipment producer will not necessarily require the same location, infrastructure or investment structure.

The Next Question for Chinese Investors in Morocco

Ten years ago, many Chinese companies might have asked:

“Can we sell our products in Morocco?”

The next question became:

“Should we invest and manufacture in Morocco?”

As Chinese industrial investment grows, the question is becoming more sophisticated:

“How can we structure, finance, build and operate a competitive factory in Morocco?”

Bank of China's increasing engagement with Morocco should be understood within this broader transformation.

Financial institutions alone do not create industrial ecosystems.

But when banks begin expanding discussions around project finance, RMB cooperation, capital markets and support for overseas industrial investment, it indicates that the economic relationship is becoming deeper and more institutionalized.

For Chinese manufacturers considering Morocco, the opportunity therefore needs to be evaluated as a complete industrial project:

Market → Location → Land → Utilities → Incentives → Financing → Construction → Recruitment → Logistics → Operations

中国企业赴摩洛哥投资建厂：从选址走向完整产业生态

随着越来越多中国制造企业在摩洛哥投资建厂，中摩经贸关系正在发生明显变化。

过去，中摩合作更多集中于贸易、设备出口以及工程项目。

如今，国轩高科、贝特瑞、中伟/COBCO、海亮、尚太科技等中国企业正在摩洛哥布局本地生产基地，中国企业在新能源汽车、电池材料、汽车零部件、风电、纺织及基础设施等领域的投资不断扩大。

在这一背景下，中国银行进一步加强与摩洛哥政府、央行及本地金融机构的交流，具有重要的观察价值。

对于计划赴摩洛哥投资建厂的中国企业而言，未来需要考虑的已经不只是：

“摩洛哥哪里有工业用地？”

而是：

“哪个工业区最适合我的项目？”

“电力、水、环保和物流条件是否满足生产需求？”

“项目资金和跨境资金如何规划？”

“如何对接摩洛哥银行、政府及工业园区？”

“可以申请哪些投资优惠政策？”

“工厂建成后，招聘、税务、物流和本地运营如何解决？”

因此，中国企业赴摩洛哥投资正在从简单的**“寻找土地”**，逐步转向完整的：

投资规划 → 工业选址 → 融资 → 审批 → 建设 → 招聘 → 供应链 → 本地运营

中国银行等金融机构对摩洛哥市场的进一步关注，也是这一产业生态逐步成熟的重要信号之一。

SinoLink Consulting | 中摩企桥 — Supporting Chinese Companies in Morocco

SinoLink Consulting (中摩企桥) supports Chinese companies evaluating and implementing industrial investment projects in Morocco.

Our services cover the different stages of setting up a factory in Morocco, including:

Morocco market entry • Company establishment • Industrial site selection • Factory and warehouse sourcing • Investment incentives • Government and industrial-zone coordination • Permits • Recruitment • Logistics • Local supplier sourcing • Equipment rental • Translation and interpretation • Local operational support

Our objective is simple:

Help Chinese companies move from an investment idea to an operational business in Morocco.

帮助中国企业从“计划进入摩洛哥”，真正走到“项目落地并实现本地运营”。

SinoLink Consulting | 中摩企桥Bridging Businesses Between China and Morocco