Paul Packer on doing business in Morocco: 'We are brothers'

Investment groups from across the globe are seeing Morocco as a new frontier to conquer in the business world.

 Paul Packer, CEO of Globis Capital Management (photo credit: JERUSALEM POST STAFF)
Paul Packer, CEO of Globis Capital Management
(photo credit: JERUSALEM POST STAFF)

MARRAKECH — Paul Packer, general partner of Globis Capital Management, discussed investment opportunities in Morocco in a one-on-one interview with Jerusalem Post Editor-in-Chief Yaakov Katz on Thursday. The wide-ranging conversation was held at the Jerusalem Post Global Investment Forum in Marrakech, Morocco, sponsored by the Jerusalem Post Group and its media partners, Global Media Holdings in Morocco and the Khaleej Times in the United Arab Emirates.

Globis Capital, which has invested in both public companies and startups in Israel over the past fifteen years, recently invested in Forafric, one of the leading wheat processing companies in Morocco, which is the first public company from Morocco to be listed on the US stock market. The company currently provides its products to more than 45 African countries

Morocco continues to grow

Packer noted that Morocco is the gateway to Africa. “Over the next ten years, Morocco will reach 2 billion people with free-trade agreements with 100 countries,” he said. “This is something that we are willing to bet on and invest in. Morocco is ready for Western capital.” Packer added that Casablanca is just a six-hour plane ride from New York.

Packer also commented on the high level of education in the country and pointed out that every year, 500 newly trained engineers join the country’s workforce. “There’s a hidden gem here in Morocco,” he said, “which are the young Moroccan engineers that could really be a ‘one plus one equals four’ for investments.”

In response to Katz’s question about the business atmosphere in Morocco, Packer responded that he feels safer walking the streets of Casablanca and Marrakech than walking in New York, praising the administration of King Mohammed VI for its welcoming atmosphere. “Once they hear that you are Jewish, we’re not cousins – we’re brothers.”