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>> with a strategic position at the crossroads of europe, africa, the arab world, morocco is shaping itself as a business leader. its commitment to making growth more inclusive is now united across the country. africa should learn to trust africa. a consonant is not need assistance -- a continent does not need assistance as much as it needs partnerships.

>> the government has put in place development strategies for each of morocco's key sectors including energy, health, and education. growth is expected to consolidate at a healthy 5% for the years ahead. success and

economic growth is credited to shrewd business planning but also assistance of making growth work for all parts of society. >> since ascending to the throne vi --99, king mohammed economic reforms while promoting economic development. much the same way, morocco's government now follows an agenda of reforms. effectiveness of public spending, the judiciaries, and freedom of expression. achieving greater cohesion among regions is part of this agenda. between 2004 and 2010, a total of $1 billion has been invested in economic and social projects, raising the region's indicators

for education, health, and poverty reduction above the national average. >> it was about 25%. a new development model backed by thethe king aims to double the gdp over the next two years and create new jobs. us, it is to eight sub-saharan african countries. it is in order to promote prosperity. morocco is seen as a developing partner for africa's fast-growing economy. >> we help as much as we can but knowe transferring our n how into different sectors,

education andn, others. >> moroccan companies are already president 25 african countries to major investments, subsidiaries, and businesses in a variety of sectors. advantage morocco an and makes it the international gateway for investors. >> morocco's expanding international engagement is reflected by a rise in direct foreign investment. it has attracted an average of $3 billion annually. in the first half of 2015, foreign investments over $3co rose to

-- $1.32 billion, an increase from $1.1 billion, a 19% increase. >> morocco's recent focus on value-added export industries makes the country a magnet for foreign investors thanks to a strategy that has strengthened six dedicated sectors. the kingdom is developing into a modern industrialized nation. this strategy, based on the industrial emergence, launched in 2008, has boosted automotive,ustry,

off shoring, pharmaceuticals, therebyiles, increasing exports and modernizing local industries. >> a new industrial acceleration plan was launched last year to run from 2014 to 2020. it will lead to half a million jobs and increase the contribution to gdp from 40% to 23%. >> the new strategy is based on an approach of integrated value chains and a creation of synergy between big firms and sme's. companyadian aerospace

is an example of successful integration into the local business ecosystem. s> construction of bombardier' facility is a major endorsement of morocco's growing aerospace industry. toour plan is to invest up $200 million by 2020, and in doing so create a hundred 50 jobs in aerospace. we are committed to working very closely with the local government, and in doing so also be a catalyst for the development of the local supply chain here in morocco. >> the creation of new ecosystems also applies to other eight industries, including the auto sector.

>> =-- has also revealed plans buildld a factory to compact models by 2019. >> morocco's well-connected infrastructure facilitates these developments. infrastructure such as highways, rail and airways, and logistics, are now turning the country into a major transport

hub for travelers and trains. >> situated on the world's shippingsiest port, morocco's exports are expected to triple by -- anticipates this growth. >> a second deep water port is already in preparation and will be fully operational in 2017.

this will make it one of the largest ports in africa with a total capacity of eight and 2 million peu. morocco is also planning longer highways inoads and a dry development in the kingdom's southern regions. railwayco's national operator plays an equal part in developing the country, intending to lay 1500 plumbers of high-speed lines in the next three decades.

>> the will be the fastest in africa, reducing the travel time between casablanca and tangier to just over two hours. it will be financed through a combination of public funds and foreign loans. the international airport is also being expanded to meet the growing international and reads wherenal transport hub, marrakesh will receive a second airport. significantly, these developments not only eight of morocco's integration into the global economy but also -- litates the expansion of morocco soil is rich in minerals

, most famously phosphate rock, commonly referred to as morocco's wife goal. -- white gold. morocco holds about 85% of the world of the remaining phosphate reserves, which are used in agriculture and industry. >> ocp, a state owned company, has exploited and marketed morocco's reserve. now, a major capital investment and industrial development program is set to further strengthen its position.

>> with a global need for agricultural products to double , production of fertilizers become ever more important. are found in africa. >> aside from phosphate, the government is planning to expect expand mining for minerals. ambitious lands exist for the country's

booming sectors. agriculture and agro industry clay a significant role in morocco's economy. they contribution total of 19% to the growth to domes product, and in larue areas -- and in rural areas, a huge percentage of jobs. it is the largest in the region with top export such as fruits and vegetables, olive oil, spices, and nuts. to boost the sector, the government has launched a strategic plan known as the green morocco plan. agriculture is expected to contribute $18 billion to gdp, create an additional $1.5 .1.5 million jobs argan oil is today recognized

globally as an ingredient in high-end personal care products. >> germany first developed a afterfor the project promoting the oil internationally. >> large, multinational companies now dominate the have.500 times annually. the government wants to triple this export. morocco is the largest producer of fish in africa. they expect to increase fish landings to 1.6 million tons annually by modernizing the fishing industry. morocco plans to raise the value

to more than $3.1 billion by 2020. until recently, 90% of morocco's energy needs were covered through energy import. this is changing as the country develops local energy sources, particularly renewable energy sources where it has enormous potential. >> the newest solar power complex in southern central morocco has a capacity of 500

megawatts of electricity, the first building block in the national solar energy program. >> an italy impreza development is the wind farm in southwestern morocco, -- n equally impressive development as the wind farm in

southwestern morocco, has a capacity of more than 300 megawatts. >> morocco also emphasizes the massive introduction of natural gas as part of it industry strategy. over the next five years, it will install infrastructure to make liquefied natural gas more available. >> while morocco is taking measures to meet growing demand for both primary energy and electricity, this very demanded also the outcome of a successful program of nationwide electrification.

>> demand for electricity growth by 7% to 8% annually, driven by morocco's expanding energy sector. implementation into the technology sector is moving into deep integration with the global knowledge economy. makes itrocc a cornerstone of the economy .

>> morocco is already leading the way in outsourcing and off shoring. it's best known off shoring project is a result of a $341 million investment by med sourcing. the development is home to 100 such as dell and accenture. ibm created a service center to service morocco and other african markets. initiative, ate

morocco digital fund has been set up to give assistance to local technology firms, managed by the country's three biggest commercial banks and the state thed management funds, initiative underlines the role of the financial sector in the country's development. the moroccan economy proved resilient in the global financial crisis of 2008 thanks are carefully regulated banking sector. regulatory framework with international best practices, sector has reached a development that now puts it at the forefront in the region.

majorocco's three in thelay a crucial role country's economic growth and projecting this growth across africa. >> while developed countries are tare experiencing in economics slowdown -- an

economic slowdown -- it was established to act as a conduit for foreign investment. >> our legal today is fully operational. -- >> our ecosystem today is fully operational. we addressed the african market from casablanca. morocco'ses stand in thinnest point. vantage point. >> we, regulation, and satisfactory. morocco offers all of these. >> other sectors look for similar criteria.

not least because of the stability and unique infrastructure. morocco has become a benchmark for tourism development drop the mediterranean region. and this aims to extend its success. >> vision 2020 is a national program. the main objective is to make morocco among the top destinations around the world but also to make it a reference when it comes to sustainable the target, and also is to double the sector of tourism in morocco. the mostrism is one of prominent sectors in this regard, but the meetings, incentives, and events sector has also grown in recent years, as has medical tourism. sports tourism is also expected to increase, particularly golf.

several are undergoing expansion to recruit cruise ships. gardens, palaces, and first-class facilities are making it one of the world' top tourist destinationss, as ranked by tripadvisor. have four seasons, grace, and ritz-carlton. of morocco, in the moroccan sahara, a center for fans of windsurfing. this is a unesco world heritage site. a investment group launched $99 million ecotourism resort in dakkar.

foreignder to attract -- >> meanwhile, this has been the center for filmmaking since the 1950's and recently featured in the blockbuster tv series "game of thrones." competitively in the world's film industry. from 2011e years 22014, it tripled the amount of its foreign investment in the million toom $10 more than $100 million. morocco, far from it believe, now extends across all sectors. the country no longer depends on just a few key industries to support economic development.

morocco is set on the path of reform and development. it is emerging as regional leader and gateway to africa. >> investors recognize morocco's unique location in a region that is all too often fraught by political and ability. >> the position, the stability, theseamework -- all of elements explain why morocco is

placee most attractive for foreign investment. >> morocco's model of growth is a model to be followed by others in the region. >> ever more competitive at the global level, morocco is poised to complete it evolution for a modern economy.

♪ ♪ emily: he got his start as a journalist with a front row seat to steve jobs' inner circle. and wrote the seminal book on the early years at apple. then, michael moritz decided to try his luck in venture capital. he went on to become one of the most heralded investors in silicon valley history, joining the boards of google and yahoo!, then a few years ago took a step back for a rare health condition he has never revealed. joining me today on "studio 1.0," sir michael moritz,