Aziz Akhannouch gives green light to 13 projects during 81st meeting of the Investment Commission

Morocco to invest more than 2 billion dirhams in various plans
Aziz Akhannouch

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Mohcine Jazouli, Minister Delegate for Investment, Convergence and Evaluation of Public Policies, announced after the 81st meeting of the Investment Commission, that Morocco will spend more than 2 billion dirhams on 13 additional projects of great importance to the country. Aziz Akhannouch, head of the Kingdom's government, has given his approval to all these investments. "Indeed, the holding of this 1st Investment Commission of the present mandate in a short period of time testifies to the will to give a strong impetus to investment," said the minister.

According to Jazouli, the 2 billion dirhams will be divided to make the investments, 1 billion dirhams will be allocated to local investment and the remaining 1 billion dirhams are linked to foreign investments. These, according to the minister, are the most important and strategic of the investments, as the money will be used to obtain electronic chips for vehicles and pharmaceutical producers.

In turn, these new investments will create 5,294 jobs, both direct and indirect. All these decisions have been taken in the knowledge that the industrial sector represents 54% of this amount of investment, followed by the trade and distribution sector with 33% of the amount. This is followed by 13% for the health sector. "This investment is at the heart of the Alawi country's development", as King Mohammed VI pointed out, and "is a priority of the New Development Model and the Government Programme".

Nadia Fettah Alaoui

This is not the only investment plan Morocco has up its sleeve. The country has recently decided to invest in different sectors, in addition to those mentioned above, as part of its new reform and modernisation plan for the country. Recently, an agreement has been signed with France to invest in a number of improvement projects thanks to the Mohammed VI Fund. Much of the money is earmarked for improving the country's infrastructure, such as Nador West Med, a port located near Selouna.

Investment is one of the country's main focuses, and Morocco has recently become a major investor. Its new policies are focused on its neighbouring countries and are yielding great results. Over the past year, the focus has also been on investing in the country's defence, which involves improving the country's defence system in every sense of the word. 

One of Morocco's strong points has been its major investments in ecological issues. The Kingdom wants to become a greener country and, to do so, it has to give up the various fossil fuels it has been using. But thanks to its geographical situation and location, the green sector is a key sector that various companies have been able to use effectively. There are currently 61 projects under development that will provide around 4,037 megawatts by 2025. Also announced is the installation of 60 electric vehicle charging stations and a network of electric vehicles that will link the nation from one end to the other. The creation of the Noor II solar thermal power plant in Ourzazate is a big bet on environmentalism, which currently produces 580 megawatts and generates clean energy for more than one million households.

Mohamed VI

It should be noted that the coronavirus crisis has caused great losses for the world's economies, and Morocco has been severely affected by the virus, which is still active. As a result, a new finance bill has been approved for the growth of the economy, which will create thousands of jobs over the next two years.

The Moroccan government is taking excellent initiatives that will lead to a large increase in the nation's capital, thus bringing further improvements and more investors. The new plans are expected to yield excellent results and thanks to the efforts of the leaders, the Kingdom will be a key investment hotspot in the world.