Agencia Marroquí de Desarrollo de Inversiones - Auto

Reino de Marruecos
Agencia Marroquí de Desarrollo de Inversiones
Marruecos : Plataforma Competitiva para la Automoción
Morocco, more business
M. Aziz EL ATIAOUI
1
Director
de la oficina de representación
AMDI España
Madrid, 26 Noviembre 2014
1
Plan de Acceleración Industrial 2014-2020
2
Las 10 Medidas Clave
Plan de Acceleracion Industrial 2014-2020
ECOSISTEMAS
1
Creacion y apoyo
de Ecosistemas
2
Compensación
Industrial
3
Transición de lo
informal a lo formal
4
Cualificación de
Recursos
Herramientas de Apoyo
5
Mejorar la competividad de
la PYME
6
Apoyo Financiero
7
Infrastructura accesible en
regimen de alquiler
10
Ampliación de la vocación
Africana
INTERNACIONAL
8
Integración del Reino de
Marruecos a nivel
Internacional
9
« Deal making » & IDE
3
Objetivos del Plan en el Sector Automoción
Capacidad de
produccion
(vehiculos)
800 000
Tasa de integracion
local
Empleos
65%
165 000
+20 pts
+90 000
+400 000
+
45%
75 000
400 000
2013
2020
2013
2020
2013
2020
Lograr ser el destino ineludible para los actores internacionales
Anclar los procedimientos/actividades del sector automovil en Marruecos
4
5 Desafios a señalar para arraigar de manera
sostenible la actividad automovil en Marruecos
1
Atraer un 2º y 3er constructor
2
Hacer de Marruecos la base de respaldo para el
sourcing en Europa
3
Completar la cadena de valor de las actividades
(integración en profundidad)
4
Mejorar la eficiencia de la cadena logistica
5
Desarrollar el peritaje a nivel local
(Diseño, test y validacion de los productos)
5
Un plan de desarrollo basado en 2 grandes familias de Ecosistemas
1
Constructors
2
Equipment
Manufacturers
Constructors in
Maroc
Major equipment
manufacturers
(Maroc)
Constructors in
Europe
Group of
manufacturers
(Maroc)
Hacia un réorganizacion de las actividades del sector automovil
en Ecosistemas equilibrados, estables y competitivos
6
Agenda
I.
Morocco's Automotive ecosystem
II.
Market opportunities for OEM and OES (Tiers 1, 2 & 3)
III. Morocco Automotive value proposition
7
Morocco: An emerging platform location
"Morocco is to Europe what Mexico is to the USA"
Monthly average salary
1510€/m (Spain)1
14 km
1
Low production
cost for
Europe
Tangier
Med
Port
Tangier
Med
Monthly average salary 375€/m1
2
Gateway to
Africa
Source: Average monthly salary for a production worker; source : Salary Benchmark Mercer 2011; CNSS 2012
8
Automotive Ecosystem
Tier 3
Tier 2
Tier 1
9
During the last years, Morocco has built a dynamic automotive
ecosystem
Employees
Companies
Number of companies (OEM/OES¹)
2006
2011
2013
Exports
Exports in M €
Number of employees
2006
2011
2013
2010
2011
+150%
2012
2013
+23%
+48%
2811
85 000
135
180
70000
200
2 260
1827
2192
30.000
1. including OES supplying IAM and service companies
Sources: Moroccan Ministry of Industry and Trade, Expert interview, BCG estimates
10
Morocco, the most dynamic automotive platform in the region
Automotive exports (2004 = base 100)
Vehicle production (2013)
167.452
Morocco
Algeria
Tunisia
Egypt
2600
2100
1600
1100
39.050
600
100
1.860
Tunisia
Sources: OICA
Egypt
Morocco
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
Sources: Trademap
11
World leading suppliers with large production units already
present in Morocco (1/2)
Number
of Automotive
companies
by rapid
5 in 12growth
years since 2006¹
Automotive
industry
in Morocco
since 1963multiplied
(SOMACA);
Local integration rate
# of companies
250
(1963)
15%
Casablanca Facility produces
for Fiat, PSA and Renault
40%
45%
Renault acquires majority
stake of SOMACA
50%
Renault announces
Tangier project
Launch
200
200
OEM
185
171
HCV Production (CKD)
158
146
150
Tier 1
135
117
100
100
MGM
85
63
47
50
35
INTERTRONIC
MAROC
Tier 2
Manipulados
SOCAFIX
Joamar
1963
...
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2013
1. Company installation date and/or year of major investment
Sources : Company's website, Moroccan Ministry of Industry and Trade, Expert interview
12
Two existing Automotive industrial zones
Northern Area with
Tangier Med Zone &
Kenitra Free Zone
Tanger
1
Kénitra
• # Equipment manufacturers: 110 (e.g., Yazaki,
Sumitomo, Delphi, Polydesign, etc.)
• # employees: ~40.000
Southern Area
with Casablanca
Industrial Zone
2
Casablanca
• # Equipment manufacturers: 90 (e.g., Leoni,
Sumitomo, Promaghreb, UP5, OMR, etc)
• # employees: ~30.000
13
Renault's Mega plant continues to boost local production to
reach about ~500 000 units by 2015
Africa's largest production site in Tangier
• 400.000 cars p.a. to be produced in 2015
Production
(~200.000 in 2013)
• Capacity: 60 cars per hour
Jobs
Investment
Site
Expected surge in local car manufacturing
# of units manufactured in Morocco
in '000 units
x9
~500
• 6.000 Direct Employment
• 30.000+ Indirect Employment
• Total Investment: 1 Billion €
• Significant investments by Suppliers
~250
• 280 Ha area
• "zero-emission" plant through partnership with Veolia
Location
• ~44 km to Europe
• ~30 km to Tangier Med port (connected by rail line)
• Served by modern Highway
Logistics
• Car carrier terminal in Tangier Med Port with 8.5
million containers capacity by 2017
~120
400
Renault Tangier
SOMACA
170
60
43
57
64
80
85
2010
2011
2012 FC
2013FC
2015FC
90% of production will be exported,
mainly to the Euro-Med Market
Sources: IHS, Renault's website, BCG analysis
14
Morocco's current supplier ecosystem enabling to reach
50% local integration rate
Local sourcing & manufacturing
Components & suppliers
Engine
Chassis
Interior
Filters
Suspension system
Sinfa Filtres
Hutchinson
Body
Dashboard
Bumpers
Ifplast
Seats
Exhaust system
TUYAUTO
Braking system
Siprof/Lastex
Plastic/rubber parts
TUYAUTO
SOCAFIX
Ifplast
Ifplast
Joamar
SIMOUN
Anse
PROMA
Doors
Metal parts
Tank
Manipulados
Ifplast
Safety system
HVAC
SOCAFIX
TUYAUTO
Lighting system
Cables
SILA
Sinfa Cables
Electric cables
Glass
% of costs
Illustration
INDUVER
Interior covering
SIMOUN
3 – 5%
5 – 6%
15 – 20 %
+ Manufacturing and labor
10 – 15%
Source: "Who makes the Car – 2011", Bank of America, Merrill Lynch, 2011, BCG analysis
PREVENT
12 – 15%
50% integration rate
70%
Target local integration rate by 2020
15
Ambition to increase local integration rate and develop
a full equipment cluster by 2020
High
Engineering
Plasturgy
Lighting system
HVAC
Powered axle
Suspension
system
Technology Intensity
Fuel system
Metallurgy
Cockpit-Dashboard
Wheels
& Tire
Seat straps
Exhaust
system
Cable
manufacturing
Complementary parts
Traditional competency cluster
Suppliers installed after 2005
Potential new cluster
Low
Low
High
Labor Intensity
Morocco has evolved from a low-cost destination to one of
the most competitive automotive clusters
16
I.
Morocco's Automotive ecosystem
II.
Market opportunities for OEM and OES (Tiers 1, 2 & 3)
III. Morocco Automotive value proposition
17
OES: Four main complementary market opportunities
1
Serve European OEM/ OES/ IAM
• 30 major production sites in immediate
proximity (24h to Spain, 48h to France
and 72h to the Rest of Europe)
• 4.7M light vehicles produced within 2 days
from Morocco
• Free-Trade Agreements
2
4
1
Serve Moroccan OEM/ OES/ IAM
• Local production to be multiplied by 4 by
2015
• 40% local integration rate needed to avoid
custom duties
• Target to reach 70% local integration rate
(vs. 50% today)
3
Serve IAM in North-West Africa and Middle
East
• Free trade agreements with all MENA
countries¹
• Strong IAM market given large used-car
fleet
2
3
3
4
1. Including countries of the Arab League, but excepting Djibouti, Comoros & Mauritania, difficulties in implementation with Algeria
Source: Global Insight, AMICA, EIU, MarketResearch, BCG analysis
NAFTA
• Free-Trade Agreements with USA (2005)
and Canada (under negotiation)
• Good logistics: Only 5 shipping days to
East Cost
• Limited exports to date
18
~4 million light vehicles produced in two days of travel from Morocco
Valenciennes Toyota PSA Fiat
Maubeuge
Dieppe
(Renault-Nissan)
1.740 M
(Renault-Nissan)
Sandouville
Aulnay
(Renault-Nissan)
(PSA)
Rennes
(PSA)
Douai
Hambach
(RenaultNissan)
Flins
Poissy
(Renault-Nissan)
(PSA)
(Daimler)
Batilly
(Renault-Nissan)
Mulhouse
(PSA)
5.718 M
Sochaux
(PSA)
Vigo
Pampelune
(PSA)
(VW)
Palencia
Barcelone
(Renault-Nissan)
(Renault-Nissan)
Vitoria
Ovar
(Daimler)
(Toyota)
Martorell
Mangualde
(PSA)
0.658 M
(VW)
Valladolid
(Fiat/Renault-Nissan)
Saragosse
(GM)
Avila
Valence
(Ford)
(Renault-Nissan)
Tramagal
Setubal
(VW)
(Daimler)
Linares
Suzuki
Villaverde
(PSA)
0.154 M
Gibraltar
Tanger
Source :OICA: organisation internationale des constructeurs automobiles 2012-2013
2.163 M
19
Principal identified needs Tier 1
Cardboard and dividers
Mechanical design and
manufacturing
Plastic injection
Advanced engineering
Metrology laboratory
Maintenance and
automatism modification
Tool and mold makers
Screws and bolts
Electromechanical and
electronic maintenance
Source: AMICA
20
Opportunities for contractors
Surface
Treatment
Industrial
Engineering
Molding
Services
Equipment
Maintenance
Research
Logistics
21
I.
Morocco's Automotive ecosystem
II.
Market opportunities for OEM and OES (Tiers 1, 2 & 3)
III. Morocco Automotive value proposition
22
Morocco Automotive cluster's value proposition: Highly competitive
production conditions and favorable investment environment
1
Competitive labor costs
2
A Unique set of Free-Trade Agreements
3
A strategic localization with excellent logistics
4
World-class infrastructure with two dedicated Technopoles
5
Growing pool of trained Human Resources
6
Attractive set of Government incentives
7
Strong macro-economic performance
23
1
Competitive labor costs
Entry-level workers
Internationally-educated
experienced Management
Production Supervisor
Average wage per
employee (in 000' $)
Average wage per
employee (in 000' $)
Average wage per
employee (in 000' $)
150
150
150
152
121
100
100
50
24
5
8
33
30
45
100
50
36
21
8
0
46
55
62
69
USA Germany
6 000
91
50
0
Morocco Poland Turkey Spain France
USA Germany
MoroccoPoland Turkey Spain France USA Germany
Labor costs for a plant of 100 employees (in 000'$)
5 000
4 000
3 000
5 272
-32%
2 000
1 000
77
119
21
0
Morocco Poland Turkey Spain France
76
133
3 082
1 012
1 244
1 495
Morocco
Poland
Turkey
3 755
4 020
France
USA
100 employees:
• 85 workers
• 10 engineers
• 5 internationally-educated top
engineers1
0
1. Average HR distribution in an Automotive plant in Morocco
Note: 1 MAD = 0.1176 $, 1 € = 1.3079 $, 1 PLN = 0.2904$
Source: Mercer – Labor costs benchmark- 2011, BCG interviews
Spain
Germany
24
2
A unique set of Free-Trade Agreements
Agreement with the US (2005)
Agreement with the European Union (1996)
• Advanced Status since 2008
• 0% custom duties
Agreement with Turkey (2004)
• Progressive reduction of custom duties to
0% in 2017
• 1 Bn consumers
• 55 countries
• 60% of World GDP
Agreement in progress with the West
African Economic and Monetary Union
(UEMOA & CEMAC)
Agadir Agreement (2004)
• 0% custom duties for
exports/ imports with Egypt,
Tunisia and Jordan
Arab League Agreement
(1998)
Discussions initiated with Canada
25
3
A strategic localization with excellent logistics
Casablanca airport: Unique air hub to America, Europe & Africa
Number of international
passengers:
Steadily growing
Direct connections to 33
European cities
Direct connections to 36
cities in Africa and the
Middle East
In millions
16,5
15,1 15,1
13,5
11,5 12
10,1
8,5
2006 2007 2008 2009 2010 2011 2012 2013
26
3
A strategic localization with excellent logistics
Tangier Med Port: Connections to 130 ports in 65 countries
Ranking according to maritime
connectivity in Morocco
23
18 18 19
33
77
83 84
80
2004 2005 2006 2007 2008 2009 2010 2011 2012
27
4
World-class infrastructure with two dedicated Technopoles
Several free-zone technoparks with two dedicated Technopoles in Tangier and Kenitra
Automotive City Tangier
• 300 ha
• Directly linked by railway to Tangier
Med Port, located 30km from platform
• Preferential access to the Special
Economic Zone of Tangier Med
Automotive City Kenitra
• 300 ha
• Atlantic Free Zone situated
between Casablanca and
Tangier Port
Casanearshore
• 250 ha
Tangier Free Zone
• 500 ha
• Rated #6 in the Top 50 Free
Zones of the Future 2012/13
Nouasseur
Aerospace City
• 440 ha
Fès
• 150 ha
Automotive free-zone area
Aerospace free-zone area
22 industrial zones nationwide,
as part of Morocco's "Plan
Emergence" for economic growth
Generalist free-zone area
Source: Morocco national Plan Emergence, AMDI
28
5
Growing number of well trained Human Resources
Objective to train more than 70k people in
Automotive sector between '09-'15
Managers
National
Training Plan
Engineers
Technicians
Operators
1,500
7,000
29,000
32,500
# of engineers
trained per year
Generalist
engineers
trained in
Morocco
Nov. 2012: 2 000 new people trained per year by
dedicated automotive school IFMIA¹
• 800 people to be trained at Kenitra and 1 200 at Tangier
• Training programs targeting technicians and
mid-managers before, at the beginning or in
the course of employment
• Specialties: Cable manufacturing,
mechanical, electromechanical, machining,
welding, maintenance, plasturgy, logistics
2015+: 15 000 engineers to be trained per year in Moroccan
engineering schools
+50%
15,000
10,000
15,000
10,000
5,000
4,000
0
2007
Top engineers
trained
abroad
2010
2015
650 Moroccan students graduated from top French engineering
schools each year (Grandes Ecoles) and US/UK/Canada universities
• Largest Foreign community in French Top-10 engineering shools
• 2/3 of them want to establish in Morocco for a professional career
1. Instituts de Formation aux Métiers de l'Industrie Automobile
Source: AMICA, Moroccan Ministry of Industry and Trade, Conférence des Grandes Ecoles (CGE), Association Maroc Entrepreneurs, BCG analysis
29
5
Automotive training institutes
IFMIA Tangier
Administrator : AMICA
IFMIA Renault
Administrator: Renault Tangier Med
Status: Operational
Workforce training :
 Capacity of 500 seats
Workforce training:
 1 157 traned in 2011
 3 477 trained in 2012
IFMIA Casablanca
Administrator : AMICA
Statut : Finalisation des travaux de construction
en cours, livraison prévue pour Mars / Avril 2013
Workforce training::
IFMIA Kenitra
Administrator : « Atlantic Free Zone (AFZ),
Corporation Mondragon and Chamber of
Commerce of Saragosse »
 Capacity of 700 seats
Workforce training :
 825 trained in 2013
 1 300 expected in 2014
 1 550 expected in 2015
Source: Pacte National pour l'Emergence Industrielle
30
6
Attractive set of Government incentives
Fiscal Subsidies dedicated to Automotive Free Zones
Corporate tax
Free zone
0-5 years
5-25 years
0%
8.75%
• No VAT applied both on Imports &
Exports
• No taxes on dividends (vs. 10% for
locals)
HR Subsidies for all Moroccan hires in Automotive
Training costs
(€/year/person)
Operator
Technician
Manager
Upon hiring (Y1)
1.500 €
2.900€
2.900 €
Continuing
education (Y2)
500 €
1.500 €
2.900 €
Note: 1 MAD = 0.0901 EUR
Source: Moroccan Ministry of Industry and Trade, Commerce and New Technologies
31
6
Attractive set of Government incentives
Hassan II Fund
Financial support for the establishment in
specific areas
• 30% of professional building costs, capped to
180€/m²
• 15% of equipment costs for machinery
investment
• Contribution from the bottom 15% of the
investment amount, capped at $ 30 million DH
Investment Promotion Fund
• State participation in expenditure on the
acquisition of land, infrastructure and external
training within the limit of 5% of the total
• Exemption of import duty and value added tax on
the importation of goods, materials and tools
Tailored Incentive packages for large investments
32
7
Strong macro-economic performance
Average
GDP Growth
4,8%
2001-2013
Inflation
1,8%
2001-2013
FDI Growth*
38%
2011-2013
Unemployment rate
2013
4,8%
#2
African Country of the
future 2013-2014
in Africa
#1 en 2011 - 2012
1,9%
S&P affirms Morocco's rating
and changes perspective from
negative to stable
Mai 2014
25%
Fitch Ratings maintains
Investment Grade
Avril 2014
9,5%
33
Renault's Investment in Morocco
With Renault's megaproject, Morocco is now a major vehicle production base
1 plant in Tangier Free Zone
Renault in Tangier Free Zone
Tangier Free Zone
Tétouan
Rabat
Casablanca
Kénitra
Fès
Marrakech
Renault's Investment
Renault developed a major production center in the north area of
Morocco
• Total Investment: 1 Billion €
• 400,000 cars to be produced in 2015 (~200.000 in 2013)
• Plant production capacity: 60 cars/hour
• A 280 Ha site creating 6,000 direct employments and 30,000
indirect employments
• Around 40 suppliers followed or are about to follow Renault's
installation in Tangier Free Zone
Agadir
Laâyoune
"The port of Tangier Med [...] the availability of a skilled workforce
and that can be formed, and the fact that one is in a free zone, the
Moroccan government support system to foreign investors, its policy
incentives [...] all these elements favored the choice of Morocco”
Carlos Ghosn, Renault-Nissan CEO1
"I had no doubt that this plant will have an ultimate production
capacity of 400,000 vehicles per year. I have no doubt that at some
stage, Nissan will join Renault as part of this project"
Carlos Ghosn, Renault-Nissan CEO2
1. Aujourd'hui le Maroc (September 3rd, 2007) ; 2. Aujourd'hui le Maroc (June 17th, 2009)
34
Moroccan Automotive Industry Potential Business
Embalajes metalicos
Equipos de proteccion
individual
15 ME
Calibraje de medios de
control
Medios de prueba para
validar producto
Embalajes de carton cartons
15 ME
5 ME
Embalajes plasticos
5 ME
5 ME
Distribucion piezas de
recambio
Medios de control
10 ME
5 ME
Maquinaria especial
40 ME
Equipamiento para moldes
20 ME
Equipamiento de Injeccion de
plastico
20 ME
Tratamiento de superficie
5 ME
Alquiler equipos de
mantenimiento
5 ME
Mantenimiento industrial &
implantacion medios
industrieles
40 ME
35
Moroccan Automotive Industry Potential Business
Conectividad
Tubos y derivados
Inyección de plastico
200 ME
15 ME
10 ME
Tornilleria
Estampacion
5 ME
15 ME
Espuma y derivados
Amortiguacion
Utillajes
5 ME
3 ME
5 ME
36
Source: L’Economiste; MCINET
37
Sustained dynamic over time
Latest locations of OEMs (Rank 1 & 2) in Morocco
(2011-2013)
Stamping
Stamping / plastic
Airbag and seatbelt
Plastic injection
Source: L’Economiste; MCINET
Fuel tank
Armature seats
Air conditioning system
Industrial maintenance services
38