Latest news with #Mezzour
Morocco World
16 hours ago
- Business
- Morocco World
Morocco Emerges as Aerospace Powerhouse with 150 Firms, €2.5 Billion Revenue
Marrakech – Morocco is cementing its position as a global aerospace hub, boasting 150 companies operating factories nationwide and generating €2.5 billion in annual revenue. Speaking to French newspaper 'Le Point' at the renowned Paris Air Show, Minister of Industry and Commerce Ryad Mezzour shared insights into the sector's remarkable growth. These aerospace enterprises, concentrated in Casablanca, Tangier, Rabat and Fez, provide full-time employment to 26,000 individuals. Their primary focus lies in producing fuselages, structural components, interior furnishings, and wiring systems. Mezzour also shed light on the collaboration between national carrier Royal Air Maroc (RAM) and French aerospace giant Safran concerning the CFM engine. 'During French President Emmanuel Macron's visit to Morocco last October, an agreement was signed extending the partnership to the next-generation CFM-Leap engine,' he stated. Morocco's competitive edge lies in its ability to handle advanced technology, with 23,000 engineers graduating annually, 400 of whom enter the aerospace field. 'Production costs are competitive at €25 per hour, compared to €100-120 in Europe or the US,' Mezzour stressed. Looking ahead, the minister outlined ambitious plans: 'We will expand our offer to cabin fittings, landing gear manufacturing, and within ten years, we think we can offer a final assembly line for commercial aircraft.' He expressed confidence in doubling the sector's turnover by 2030. RAM is currently exploring the acquisition of the Airbus A220, a narrow-body jet well-suited for its European routes. 'A study is underway for an aircraft order by RAM, which is interested in the Airbus A220, a small-to-medium range jet suited for its European network,' Mezzour confirmed. The air show kicked off with a bang for Morocco as aviation titan Boeing inked a major deal, signaling a new chapter in its Moroccan investment strategy. Casablanca Aeronautique, a subsidiary of French group Figeac Aero, entered into a partnership agreement to manufacture machined structural parts for Boeing's 737 MAX program. This agreement builds upon a 2016 Memorandum of Understanding between Boeing and the Moroccan government. 'This commitment underscores the planemaker's desire to strengthen Morocco's industrial base and sustainably anchor its supply chains in the country,' Mezzour concluded. Tags: aerospace industry in moroccoMorocco aeronautics industryRyad Mezzour
Morocco World
3 days ago
- Business
- Morocco World
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
Ya Biladi
04-06-2025
- Automotive
- Ya Biladi
Morocco aims to boost electric vehicle production by 53% by end of 2025
Morocco plans to increase its electric vehicle (EV) production by 53% by the end of 2025, reaching a total of 107,000 units, Industry and Trade Minister Ryad Mezzour announced on Monday during a session at the House of Representatives. The move is part of the kingdom's broader strategy to reduce its dependence on the European market, which is currently facing sluggish demand. The country's automotive sector currently has an annual production capacity of 700,000 vehicles, with expectations to reach one million units before the end of the year. The European Union remains the main destination for Moroccan car exports. Despite a 7% drop in car exports—amounting to around 49 billion dirhams during the first four months of 2025—the automotive industry continues to hold its position as Morocco's leading export sector. According to data from the Foreign Exchange Office, this decline contributed to a widening trade deficit, which rose to 108.9 billion dirhams, up by 22.8%. Minister Mezzour described the downturn as temporary and highlighted efforts to diversify Morocco's export markets. The country currently exports vehicles to around 70 countries and aims to expand that number to 100. Data from the European Automobile Manufacturers Association shows a decline in sales of traditional cars across the continent, while electric vehicles now account for 15.2% of the market—strengthening Morocco's strategic focus on EV production.
Morocco World
31-05-2025
- Business
- Morocco World
Textile: Valerius Morocco's New $10.27 Million Plant to Create 1,640 Jobs
Doha – Valerius Morocco inaugurated its new clothing manufacturing facility in Salé on Thursday. The ceremony took place in the presence of Morocco's Minister of Industry and Commerce, Ryad Mezzour. The project represents a total investment of MAD 102.72 million ($10.27 million). It will generate 1,640 new direct and indirect jobs in the region. The establishment of this manufacturing unit stems from an investment agreement signed between Valerius Morocco and the Moroccan government on July 27, 2021. This agreement was formalized under the Industrial Development and Investment Fund (FDII). In Lisbon in 2023, Morocco and the Portuguese textile group Valerius Texteis signed a MAD 1 billion ($100 million) agreement for a textile recycling project expected to create 1,500 jobs. Speaking at the inauguration, Minister Mezzour talked about the strategic importance of the textile sector to the national economy. 'With 227,460 jobs and MAD 45.9 billion ($4.59 billion) in export turnover, the textile sector occupies a strategic place in the national economy,' he stated. The minister noted growing interest from foreign investors, particularly Portuguese companies looking toward Morocco. 'Our country represents a strategic choice for Portuguese textile manufacturers seeking co-production opportunities to strengthen their proximity supply chains,' Mezzour added. Hammani Amahzoune, General Manager of Valerius Morocco, emphasized the benefits of the partnership. 'This partnership allows us today to produce for major brands and companies, whether based in the United States or Europe,' he said. Integrating design and creativity to boost Moroccan textile's global standing According to Amahzoune, quality is a major asset for the company. He revealed that Valerius Morocco has invested in equipment of European and American origin to excel in quality and attract more orders. He also stressed the importance of continuous training of human resources, which has generated interest from major international textile brands. Valerius Morocco is a joint venture between Moroccan company SG3H and the Portuguese international industrial group Valerius Group. The partnership combines expertise in industrial manufacturing, design, creativity, R&D, and marketing within the textile sector. The project falls within the Fast-Fashion ecosystem. Through this initiative, Valerius Morocco aims to strengthen its position as a manufacturer of women's and children's clothing, focusing on finished products that integrate design and creativity. Minister Mezzour expressed hope that this collaboration signals a fruitful partnership between Moroccan and Portuguese textile industries. He anticipates that the relationship will extend to other initiatives, such as the use of recycled fibers and ecological dyeing processes to reduce carbon footprint. Read also: Galician Textile Industry Turns to Morocco Amid Portuguese Industry's Crisis Tags: textile in Moroccotextile industry
Morocco World
28-05-2025
- Business
- Morocco World
Morocco Signs Deals for Eight New Sustainable Industrial Projects
Rabat – Several partnership agreements were signed Tuesday in Rabat for eight projects selected under the second edition of the Sustainable Industrial Zones Fund (FONZID II). The projects were chosen through a national call for proposals and represent a total investment of nearly MAD 989 million, including MAD 138 million in funding from the FONZID II. The goal is to increase the supply of high-quality industrial land by creating, expanding, and upgrading industrial zones that meet sustainable, inclusive, and competitive standards. The selected projects include the creation of a new industrial zone in Oued Zem, the creation of an economic activity zone in Ameur, the development of a sustainable industrial park in Taroudant, and upgrading the industrial zone of Ait Melloul. It also includes renovating the Ain Chkef multi-service industrial zone, developing an industrial park in Mohammedia, turning an industrial zone in the Tangier-Tetouan-Al Hoceima region into a green zone, and creating a 'Fertiparc' industrial area in Khouribga. Ryad Mezzour, Minister of Industry and Trade, attended the signing ceremony. The signed agreements support the government's goal of building a new model for sustainable industrial zones, he said, adding that the initiative will boost investment and help improve the economic, social, and environmental performance of businesses in Morocco. 'These projects are important examples of success,' Mezzour added. 'They are part of our efforts to make Morocco a regional leader in sustainable industry.' Akram Allaoui, Director of Industrial Zones at the Ministry, noted that the new agreements aim to achieve three main goals, including modernizing existing industrial zones, developing new ones, and creating zones dedicated to trade. FONZID II provides funding that can cover up to 50% of the total cost, with a maximum of MAD 30 million for new or expanded zones, and up to MAD 20 million for renovation projects. Tags: industrysustainable industry
