Salima Bakouchi Reflects on Two Decades of Progress in Business Law
Founded in 2006, HB Law Firm is poised to celebrate its 20th anniversary in 2026, marking a significant milestone in its journey. Salima Bakouchi, the founding partner of this prominent Moroccan law firm specializing in business law, reflects on the evolution of her practice and the challenges surrounding Morocco's attractiveness as a business destination. Celebrating two decades is not merely an anniversary; it is a moment for reflection that narrates a story of progress, longevity, and an increasing responsibility and maturity over the years. Throughout these two decades, HB Law Firm has established itself as a leading independent legal entity in Morocco, recognized for its expertise, professionalism, and a renowned practice that has successfully positioned itself as a strategic partner for clients eager to invest in Morocco, Africa, and beyond.
The first major transformation has been the advancement of business law itself, driven by a continuously changing economic and legal landscape in Morocco. This evolution has been marked by numerous reforms aligned with international standards, an increase in investments, and the establishment of many consulting firms and international lawyers in the region. As a result, we have been compelled to align with these new standards and adapt our approach and strategy accordingly.
The second significant change has been technological in nature. The critical issue of digitization has transformed our internal organization. We have embraced new technologies to maintain competitiveness and effectively respond to client demands, including the integration of artificial intelligence in decision-making processes. The African economy experienced three consecutive quarters of growth exceeding 4% in 2025, and forecasts for 2026 appear equally promising. This dynamic has significant implications for our activities and client requests.
Morocco's Energy Sector: A Game Changer for Investment
The robust economic growth in Africa and Morocco's emergence as a vital African hub have profound implications for our practice. We are witnessing a tangible shift in the nature of the cases we handle, which are increasingly complex and strategic. Our clients are seeking our expertise to structure investments that extend beyond national borders, necessitating a more strategic legal guidance that anticipates regulatory and operational risks. This proactive involvement begins in the early stages of investment, particularly in sectors such as private equity, banking, energy, infrastructure projects, telecommunications, real estate, tourism, and arbitration.
Foreign direct investment in Morocco is on the rise, and the profiles of foreign investors seeking our services have diversified significantly. Historically, European investors were the predominant players; now, we see a growing interest from American, Middle Eastern, and especially Asian investors. The emergence of investment funds, both European and local, has also increased. Regarding sectors of interest, traditional sectors like manufacturing, automotive and aerospace, agribusiness, tourism, real estate, transport, and logistics continue to attract foreign investment. Furthermore, there is a burgeoning interest in emerging sectors such as renewable energy and information technology, as well as in newly opened sectors like health and education.
Energy plays a crucial role in Morocco's attractiveness. The country is making significant strides in the energy sector, especially with the development of green hydrogen projects. This sector is central to Morocco's economic sovereignty and is becoming a transformative factor for the country's economy. Thanks to the insightful vision of His Majesty the King, Morocco is positioning itself as a global player in the energy transition, actively promoting the development of green hydrogen. The circular issued on March 11, 2024, outlines Morocco's comprehensive strategy for developing this sector, encompassing the entire value chain to meet investor needs, representing a significant step towards diversifying the kingdom's energy options and stimulating sustainable economic growth.
In recent years, Morocco has undergone several legal reforms in business law, aligning its framework with international standards to ensure legal security for investors. This reform process is ongoing, with a renewed business climate fostered by the new investment charter adopted in 2022, which sets fundamental objectives for the state and incorporates various support mechanisms for investment. This charter outlines fiscal incentives and establishes an integrated, decreasing system that secures long-term project profitability in priority sectors such as green hydrogen and the automotive industry.
Moreover, the governance aspect has seen multiple reforms aimed at modernizing governance structures. Other developments have focused on simplifying administrative procedures, competition law, and exchange regulations. Nonetheless, challenges remain, particularly in areas such as renewable energy, access to financing, corporate governance, and public market regulations.
Lastly, the recent African Cup of Nations held in Morocco from December 21, 2025, to January 18, 2026, transcended sports, acting as an economic catalyst. This edition is celebrated as one of the best ever organized and the most viewed globally, highlighting Morocco's capacity to host significant international events.
As reported by decideurs-juridiques.com.
