Morocco's Biggest Companies
Morocco is home to many large companies, and due to its easy going rules in regard to foreign trade and investment, it is one of the places that most foreign investors look into. The biggest foreign investors right now is France and the UK. However, they do a lot of business with the US because of a long time trade agreement that makes it much easier for the US to trade with Morocco. The largest companies are involved in the main economic sectors that bring in the most profit to the country. These are involved in the agriculture fields. There also also large companies in the telecommunication fields, holding fields and transportation sectors.
In regard to agriculture, the biggest company is Centrale Laitiere, which makes sense since there is only one company in this specific sector. This company produces milk and other dairy products, such as milk, yogurts, cheeses, and other fresh dairy products. The company has a number of brands that are under it, including Lait Plus, Agrigne and Fromagerie Doukkalas. For the 2009 year, the company sold 5,636,751,082. Agriculture accounts for 15% of the profit that the economy earns, and also accounts for a huge chunk of the employment in the country.
The biggest company in the telecommunication field is Maroc Telecom. There is one other competitor in this field, however, they have yet to catch up to the success of Maroc Telecom. This company is the main source for land line telephones, mobile phones and Internet service. This company is also a huge part of employment, as it employs around 12,000 employees throughout its many branches. Maroc Telecom is known for its low prices, which has led to the increase in their popularity with the people of Morocco. And the company is always looking for ways to increase their product and service offerings in order to expand the company.
The holding field is dominated by one single company, Ona. This company is in business in various fields, including agriculture holdings, mining, distribution, and financial services just to name a few. This company has a huge role in the insurance market, offering health and life insurance, as well as automobile insurance. Transportation services also plays a huge role in the economy. And the biggest company in this sector is Comanav. The Jet4You company as well as the Royal Air Maroc are close contenders in the transportation sector, and often one may dominate the other throughout the fiscal year.
Morocco openly welcomes many foreign companies into their economy, since they rely heavily upon these companies to support their way of life. One of the biggest foreign companies is BNP Paribas, which is France's largest bank, is investing heavily into the economy, and should improve the profit margin for the country dramatically.
Morocco is unlike many other countries, in that they have an open policy in regard to foreign companies as stated before, however, due to this the economy is usually in a good state simply because they do not have all of their hopes of economic success invested solely in domestic companies. Even with this being said, though, many of the domestic companies bring in huge profits to the economy.