Industrial Sovereignty: Morocco Selects 1,839 Projects Worth $12.49 Billion
Doha – On Monday, Industry and Trade Minister Ryad Mezzour announced that 1,839 industrial projects have been selected as part of efforts to boost Morocco's industrial sovereignty.
The projects, selected up until June 10, represent a total investment of MAD 124.9 billion ($12.49 billion).
They aim to strengthen domestic production capacities, reduce Morocco's reliance on imports, and are expected to generate 179,825 jobs across key manufacturing sectors.
Speaking at the House of Representatives, Mezzour, through Secretary of State for Foreign Trade Omar Hejira, stated that these projects are expected to create 179,825 jobs.
He stressed that this initiative seeks to increase domestic manufacturing of goods that can be produced in Morocco as a substitute for imported products.
Mezzour also pointed out the significant progress made by the industrial sector under the leadership of King Mohammed VI. He attributed this to the various industrial plans implemented over the past two decades.
The minister noted that this momentum has been further reinforced following the COVID-19 pandemic through the adoption of a new strategy.
This strategy aims to position Morocco as a decarbonized industrial platform, enhance its industrial sovereignty, improve competitiveness, and reduce the trade deficit.
The selection of these projects represents a key step towards achieving these objectives and bolstering Morocco's industrial self-sufficiency. Tags: Moroccan IndustryRyad Mezzour
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