A new investment company is being set up in Morocco.

With a paid-up capital of $20 million, Venture Capital Bank (VC Bank) and their partners in Kuwait: Real Estate Commercial Company; Al Burooj Real Estate Investment; Al Khaleeji Investment House; and Ayaan Leasing and Investment; issued a joint statement on the completion of procedures concerning the establishment of Mozon Investment Holding Company in Morocco.
 
Mozon Investment Holding Company will concentrate its efforts and aptitude on a variety of investment activities in Morocco, including buying and selling, and the establishment of companies spanning a range of economic sectors including -- but not limited to — industrial, service, real estate, finance and investment, and many others.

The company is currently engaged in performing detailed analyses of several key projects in alliance with strategic partners in Morocco, in order to begin implementation and execution in the near future.

The first board of directors for Mozon Investment Holding Company was recently elected, and the Board held their inaugural meeting in Kuwait City, Kuwait. Board members comprise: Abdulfatah Mohammed Rafei Marafei, chairman of the board; Mohammed Saleh Al Khinah, deputy chairman ; Nuri Ahmed Al Saad, secretary; Abdullatif Mohamed Janahi; Dr Ahmed Al Jawhary; Abdulaziz Ebrahim Moosa; Ahmed Abdullatif Al Dosari; Bashar Al Tuwaijri; and Engineer Waleed Khalid Al Jari, as members.

During the inaugural board meeting, the company's executive committee was also founded to consist of: Abdulfatah Mohammed Rafei Marafei, Nuri Ahmed Al Saad, Dr Ahmed Al Jawhary, and Abdulaziz Ebrahim Moosa.

Dr Ahmed Al Jawhary, chief investment officer, Venture Capital & Business Development, VC Bank, and member of the Board for Mozon Investment Holding Company, said:

'The bank and its partners endeavor, through this partnership, to capture the many lucrative investment opportunities available to Arab and Foreign investors, in the Morocco, and to vantage from the progressive investment environment of the Kingdom, which has successfully attracted foreign investments.

'Furthermore, in terms of its direction and strategy, Mozon Investment Holding Company will ensure its active contribution to the Kingdom's national economy via concentration on beneficial projects which foster economic growth, and provide infrastructure and investment establishment paradigms, at par with international standards of employment, operations, and management.'

Dr Al Jawhary added:  'Mozon Investment Holding Company's policies and economic direction are in direct correlation with those of Venture Capital Bank in terms of VC Bank's focus on investing in new landmark projects, and other real estate investment opportunities, in addition to the realm of acquisitions, business development and providing investment advisory services in various Mena region countries.

“This is largely attributed to the bank's firm belief in the importance of the role played by finance and investment firms in harboring projects that spur national economic growth across the Arab world, such as in Morocco.'

Dr Al Jawhary said: 'Through its projects and activities in Morocco, Mozon Investment Holding Company will provide several well-governed and thoroughly-studied investment channels for a large GCC investor base—particularly for those who are on the verge of entering the promising assortment of markets and economic sectors in the Kingdom.'

'Forming an alliance between our Gulf corporations to form Mozon Investment Holding Company, and to enter the Moroccan market with a unified strategy, will undisputedly consolidate our strengths and enhance our opportunities for success.

“These distinguished corporations will target all their efforts and expertise, and employ all available technical, financial, and managerial resources, to support the developmen