Overview
Often considered to be one of the most vibrant emerging markets in the Northern Hemisphere, Morocco remains keen to attract foreign investors and to revive tourism revenue, which has slowed since the recession. Lawyers have been engaged in the ongoing development of projects under the Plan Azur scheme, a longstanding infrastructure programme involving the creation of six new coastal resorts.
There are also a number of energy projects underway, with several law firms responding to the government focus on renewable energy and reaping instructions relating to the development of large-scale wind farms and solar power plants across the country.
The most dominant legal presence in Morocco comes from French and Spanish firms, maximising Morocco’s EU relationship and capitalising on similarities between French and Moroccan law. A major player is the highly regarded Gide Loyrette Nouel – Naciri & Associés, which maintains the largest presence in the country. The latest French firm to break into the market is JeantetAssociés, which opened its Casablanca office in 2010, headed by former Brandford-Griffith & Associés partner Laurent Sablé.
Many international firms manage Moroccan operations from Paris and are strengthening their corporate focus, following a strong year for M&A transactions. A number of firms, both domestic and international, advised on France Télécom’s €640m acquisition of Médi Télécom; this was one of Morocco’s largest takeover deals of 2010, involving France Télécom’s purchase of a 40% stake in Morocco’s second-largest mobile operator from its local owners, state investors CDG and private investment group FinanceCom.