Business | Tourism

Gulf nations invest in Morocco tourism

Three countries of the Arabian Gulf have set up a $2.5b sovereign investment fund to support Morocco's tourism sector

  • AP
  • Published: 00:00 November 26, 2011
  • Gulf News

Rabat: Three countries of the Arabian Gulf have set up a $2.5 billion (Dh9.1 billion) sovereign investment fund to support Morocco's tourism sector.

Qatar Emir Hamad Bin Khalifa Al Thani was in Morocco on Thursday, together with General Shaikh Mohammad Bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, and Kuwaiti Foreign Minister Mustafa Jasem Al Shamali to sign the accord with Morocco's king.

King Mohammad VI also signed a series of other bilateral economic cooperation accords with Qatar's emir.

Major destination

A major destination for European tourists seeking sun and sand, Morocco's industry suffers from a lack of investment due to financial constraints.

The countries of the Gulf Cooperation Council have been publicly discussing ways of aiding Jordan and Morocco.

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