Transportation: Tanger-Med, crossroads of the world

TZF best free zone in the world, FDI magazine report

17 July, 19:33

(ANSAMed) - RABAT, JULY 17 - Tangier has the world's best free zone port and the world's second best airport in terms of size, jobs generated, number of companies installed, infrastructure, accessibility, and efficiency, according to a report by Financial Times-owned Foreign Direct Investment (FDI) magazine published today.

Established in 1999, the Tangier Free Zone (TFZ) has attracted more than 500 foreign companies that generated 47,000 jobs and total investments of approximately 6 billion dirhams (550 million euros). They came because of the TFZ's strategic position on the Straits of Gibraltar, and also because of government incentives and the country's stability, according to FDI Magazine jury member John Worthington. A jewel in the TFZ crown is Tanger-Med, the cargo and passenger port located about 40 km east of the city, which went into service in July 2007 with initial capacity of 3.5 million containers. One of the largest ports on the Mediterranean and in Africa by capacity, it positions Morocco as an essential crossroads between Europe, Asia and the Americas, and acts as a motor for development for the entire region. Tanger-Med is currently being extended, in part with a loan from the European Investment Bank (EIB), and is expected to reach full operating levels by 2015, when it will have capacity for 8 million containers, 7 million passengers, 700,000 trucks, 2 million vehicles, and 10 million MT of oil products. (ANSAMed).

ALL RIGHTS RESERVED © Copyright ANSA