Casablanca – King Mohammed VI has called on Morocco’s financial sector to take on a broader role in supporting the country’s economic transformation by expanding access to financing for businesses, mobilizing domestic savings, and helping fund the large-scale investments needed to sustain growth and industrial development.

In his Throne Day address marking the 27th anniversary of his accession to the throne, the King said Morocco’s economic and social transformation requires financing on an unprecedented scale, stressing that the majority of those resources should come from domestic sources. He urged banks and non-bank financial institutions to continue supporting investment and major development projects while significantly improving access to financing for small and medium-sized enterprises (SMEs), particularly those engaged in innovation, manufacturing, and export-oriented activities.

The King also encouraged the financial sector to develop more innovative financing solutions capable of mobilizing national savings, especially institutional savings, while strengthening Morocco’s capital markets to support long-term investment and accelerate economic development.

The address comes as Morocco continues implementing large infrastructure and industrial projects while preparing for the 2030 FIFA World Cup, which it will co-host with Spain and Portugal. The country is also investing in renewable energy, water infrastructure, transportation, digital transformation, and advanced manufacturing as part of a broader strategy to strengthen its competitiveness and diversify its economy.

Reflecting on the country’s development over nearly three decades, the King highlighted the structural transformation that Morocco has undergone since his accession to the throne in 1999. During that period, Morocco has invested heavily in modern infrastructure, logistics, ports, highways, renewable energy, and industrial ecosystems that have reshaped its economy and strengthened its integration into global supply chains.

The expansion of the Tanger Med port complex, the launch of Africa’s first high-speed railway, improvements to the national highway network, and the creation of industrial zones across several regions have helped attract international manufacturers and position Morocco as a regional production and export hub linking Europe, Africa, and the Middle East.

Over the past 27 years, Morocco has also broadened its network of trade agreements and diversified its productive base beyond traditional sectors. Automotive manufacturing, aerospace, food processing, renewable energy, electronics, and more recently electric vehicle batteries have emerged as major contributors to exports and employment, reducing the country’s dependence on a narrower range of economic activities.

The King noted that Morocco continues to strengthen its position as an industrial, tourism, and financial destination while expanding partnerships with international investors. He said these efforts have enabled the Kingdom to establish itself as a credible and reliable economic partner with growing importance in regional and international markets.

The speech highlighted several indicators illustrating Morocco’s recent economic performance. According to the King, the economy expanded by approximately 4.9% in 2025, with growth expected to remain at or exceed that level during 2026. He also referred to a favorable agricultural season and improved rainfall, which have contributed to stronger water availability and food security after several years of drought.

Industrial development featured prominently in the address. Morocco has become Africa’s largest vehicle exporter, with annual production capacity approaching one million vehicles. The automotive industry has evolved into one of the country’s principal export sectors, supported by international manufacturers and an expanding network of suppliers.

The aerospace industry has also experienced sustained growth over the past two decades, with Morocco hosting a large number of companies producing components for global aircraft manufacturers. Alongside these sectors, renewable energy, food processing, and electric battery manufacturing have become increasingly important pillars of industrial activity.

According to the King, the automotive, aerospace, renewable energy, food processing, and battery industries now generate more than 40% of Morocco’s total exports, reflecting the country’s transition toward higher-value manufacturing and greater industrial diversification.

The address also emphasized Morocco’s ambitions in emerging strategic industries, including green hydrogen, cybersecurity, and defense manufacturing. The King noted that implementation of Morocco’s green hydrogen strategy has already begun through the approval of an initial group of major investment projects designed to strengthen energy security and support future industrial development.

Tourism was also highlighted as one of the country’s strongest-performing sectors. Morocco welcomed nearly 20 million visitors in 2025, the highest annual total on record, reinforcing tourism’s growing contribution to economic activity, employment, and foreign exchange earnings.

While presenting these achievements, the King stressed that continued progress will depend on stronger participation from Morocco’s financial system. He called on banks and other financial institutions to improve financing conditions for SMEs, recognizing their role in creating jobs, encouraging innovation, and supporting regional economic development.

The speech also underlined the importance of expanding financing tools beyond conventional banking products in order to increase access to capital for businesses at different stages of development. Greater mobilization of domestic savings, according to the King, would help finance strategic projects while reducing dependence on external funding.

The King further emphasized the need to continue implementing integrated regional development programs to ensure that economic opportunities extend to all parts of the country. Balanced territorial development, he said, remains an important component of Morocco’s long-term strategy for sustainable growth.

The address also linked Morocco’s economic progress to its growing international standing. The King said the Kingdom has strengthened its position as a respected and trusted partner through a policy of diversifying international partnerships, enabling it to build balanced economic relationships while increasing its attractiveness to foreign investors.

He added that Morocco’s expanding international role has allowed it to propose new partnerships and cooperation initiatives across a range of bilateral and global issues while reinforcing its reputation as a stable investment destination.

Despite the emphasis on macroeconomic achievements, the King stressed that economic growth must translate into tangible improvements in people’s daily lives. He said the wealth generated through investment and industrial expansion should contribute to better public services, stronger purchasing power, broader employment opportunities, and more inclusive development across the country.

The speech outlined a vision for Morocco’s next stage of development that builds on nearly three decades of economic modernization. Since 1999, the Kingdom has transformed its infrastructure, diversified its industrial base, expanded exports, attracted significant foreign investment, and developed new strategic sectors. Looking ahead, the King indicated that maintaining this momentum will require closer cooperation between public institutions, private investors, and the financial sector to ensure that sufficient domestic resources are available to finance the country’s long-term development ambitions.