CMA CGM Considers Relocating Operations to Morocco Amid Threat of New Tax
Facing the prospect of a new tax, CMA CGM, a French giant in maritime transport, is considering relocating part of its operations to Morocco, threatening many jobs in France.
The French government is planning a tax targeting large maritime transport companies with a turnover exceeding €1 billion. This tax, estimated at €500 million in the first year and €300 million in the second year, would in reality only affect CMA CGM, the only French actor in this sector to exceed this turnover threshold. In 2022, the group recorded a record profit of €23.4 billion, making it the prime target of this new contribution.
Although the Ministry of Economy presents this tax as temporary, CMA CGM fears it may become permanent beyond 2026.
The group is therefore opposed to a measure it deems unfair and which could harm its competitiveness. To reduce this fiscal pressure, the company is exploring the Moroccan option, where it already has solid footholds.
Recently, CMA CGM concluded a joint-venture agreement with Marsa Maroc, the leader in port management in Morocco, to develop the container terminal at the Nador West Med port, a project estimated at 3 billion dirhams. This investment confirms Morocco's appeal to CMA CGM.
