Morocco’s appeal to Spanish companies goes well beyond low wages
Production costs no longer suffice to explain Spanish companies’ interest in Morocco. Its factories, logistics links and export markets now also factor into their investment decisions, according to an analysis published in Spain on Sunday.
In an interview with AS, consultancy ACK3 describes a country capable of integrating investors into international production chains. Alongside its geographic proximity, Morocco offers industrial capacity and infrastructure that make it possible to transport goods to foreign markets.
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Spanish businesses already have a well-established presence in Morocco. In a report published in February 2025, the Madrid government counted more than 350 Spanish companies operating in the kingdom, particularly in energy, infrastructure, automotive components, banking and technology. Their combined investments were approaching two billion euros, supporting 27 655 jobs.
Morocco was then the leading destination for Spanish investment in Africa. This presence is underpinned by particularly extensive trade between the two countries: companies find customers in Morocco, as well as suppliers and production partners.
The automotive industry illustrates this integration. Gestamp, Antolín, CIE Automotive and Ficosa all have operations in the kingdom. More than 90 companies from Spain’s Basque automotive sector also supply Morocco’s industry, whose factories are connected to European supply chains.
Factories—and markets to win
For Spanish groups, however, Morocco’s appeal extends beyond component manufacturing. Transport investments also offer major contracts. In February 2025, Madrid and Rabat signed a financial protocol covering a loan of more than 750 million euros to purchase 40 intercity trains.
According to the Spanish government, the trains are to be supplied by CAF and capable of reaching 200 km/h. The manufacturer’s first project in Morocco shows how network upgrades are opening up opportunities for foreign manufacturers.
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Logistics is also attracting Spanish professionals. At Logismed Casablanca in May 2026, ICEX organized a pavilion bringing together companies and port operators seeking to develop their ties with the Moroccan market.
ACK3 also identified needs in water, energy, construction and digital services. With projects linked to the 2030 World Cup, Spanish companies are also seeking a place in future markets for roads, ports, airports, railways and urban development.
