The earthquake that devastated Morocco’s Marrakech-Safi region on September 8, killing more than 2,900 people, left a trail of destruction that will take long to repair. But the country’s investment agency is keen on getting investors interested in putting their money in Marrakech. Its management looks forward to taking advantage of the annual meetings of the World Bank and International Monetary Fund (IMF) due in Marrakech, in October, which will draw in key players in the global financial system and private sector executives. ALSO READ: Morocco: World Bank-IMF meetings to proceed after deadly earthquake In the immediate to short-term period, the earthquake will have an impact on the tourism sector, with a decrease in the number visitors expected, “but that won’t take long,” said Mohammed Amine Sabibi, the acting Director General of Marrakech Investment Center. “But over the medium to long term, it might even speed up the good investment that really contributes to stable development.” He noted that critical investments could target the region’s mountainous region, which was the epicentre of the 6.8 magnitude earthquake. ALSO READ: Morocco raises $200m to support recovery from earthquake “We will be looking at how to reconstruct sustainably, focusing on the construction materials, how to rebuild those villages, and how to connect them to electricity. So, the earthquake opens up the door for more and better investment,” Sabibi said. With advanced meetings, incentives, conferences, and exhibitions (MICE) sector, the historical city will host the World Bank-IMF meetings taking place between October 9 and 15. The investment agency is looking forward to exhibiting potential investment opportunities that could boost the local private sector. “We are expecting huge international capital flowing into Marrakech after the IMF-World Bank meetings,” he said, marketing it as a region that “reflects Africa, and serves as a frontier to development.”
