Akhannouch outlines industrial achievements in public coverage session on the House of Councillors
Head of presidency Aziz Akhannouch praised the achievements of the nationwide trade lately, emphasizing that “the Kingdom continues to bet on the industrial sector through a renewed and sustainable policy that takes into account global transformations and seeks to achieve industrial sovereignty.”
In a complete presentation to the House of Councillors through the month-to-month session on public coverage Akhannouch stated that “the government has given special importance to the development of Moroccan industry and enhancing its international standing, as the sector is one of the key drivers of the national economy in terms of value creation and job opportunities.”
He additional emphasised that the sector “has been able to create 125,000 jobs since the beginning of the current government term until last July.”
The authorities official additionally talked about that “the industrial sector experienced growth, with revenues reaching 800 billion dirhams in 2022, marking a 22.7% increase compared to 2021. Moreover, the composition of exports underwent a fundamental shift, reaching 377 billion dirhams in 2023, with industrial exports by September 2024 reaching 291 billion dirhams.”
New Industrial Specializations
Akhannouch elaborated on the important thing options of the nationwide trade, stating that it “has managed to position itself in high-level professions and specializations, and is keeping up with future professions.” He identified that Morocco has change into an essential heart for automotive manufacturing in Africa, rating first on the continent with an annual manufacturing capability of 700,000 automobiles, exporting automobiles to greater than 70 international locations, with an area integration price of 69%.”
He highlighted that “in 2023, car exports reached 148 billion dirhams, an increase of 28% compared to 2022, and 82% compared to 2019, demonstrating tangible progress in this regard.”
He additionally famous that “the government has worked to support these developments, with the country now manufacturing three types of electric vehicles and signing agreements with leading companies in electric mobility.”
Akhannouch additionally addressed Morocco’s aviation trade, stating that the sector “has managed to attract over 150 companies, such as Boeing, Airbus, and Safran,” including that “the sector achieved significant revenues, reaching 20 billion dirhams in September, with a 20% increase compared to 2023.”
In the identical vein, the federal government official clarified that the federal government “has worked on developing a real estate offer, signing 30 agreements related to industrial infrastructure, with a total investment value exceeding 7.8 billion dirhams. Since October, 32 projects have been launched to establish and expand industrial acceleration zones, which will provide an additional industrial real estate offer of 3,705 hectares, representing 30% of the current total area over the next three years of the current term.”
After highlighting the function of King Mohammed VI in main a sequence of business methods over the previous 25 years, Akhannouch identified that “these ambitious strategies have been supported by infrastructure projects, such as the Tangier Med Port, which is now the largest container port in the Mediterranean and Africa, and the fourth-largest globally in terms of efficiency, along with an extensive network of highways, which has expanded from 80 kilometers in 1999 to 1,800 kilometers today.”
He additionally famous that “the country has mobilized over 13,000 hectares of industrial land and established 150 industrial zones.”
Government Support for Industry
Akhannouch devoted a part of his presentation to outlining the federal government’s achievements on this space, together with the institution of a “project bank” after the COVID-19 pandemic, geared toward diversifying the nationwide economic system and strengthening native industrial manufacturing. Since its launch, 1,864 funding initiatives have been recognized throughout the Kingdom, representing actual funding alternatives and changing imports with native merchandise, with a complete anticipated funding of 119 billion dirhams, which is able to create greater than 181,000 jobs.”
The Head of presidency additionally talked about that “2,012 industrial projects in various sectors have been processed by unified regional investment committees during the government term, with investments exceeding 800 billion dirhams, and these will create up to 275,000 jobs.” He famous that “with the approval of the King, two defense industrial zones have been established to attract investment projects related to arms, ammunition, and security industries, representing a key step toward building a strong national military industrial base that will gradually contribute to enhancing Morocco’s strategic defense autonomy.”
In discussing the federal government’s assist for industrial enterprises, Akhannouch revealed that they’ve been supported via “maintaining stable electricity prices despite the rising cost of production, unlike other countries. This measure has been financially supported by the state, enabling industrial enterprises to maintain their competitiveness.” He additionally talked about that the federal government has activated an settlement permitting industries to entry renewable power at excessive voltages at aggressive costs.
In his presentation, Akhannouch emphasised that “since it took office, the government has been aware of the need to make the industrial sector a priority for the entire government.”
“We worked on launching the new investment charter after years of hesitation, which aims to develop the legal and regulatory framework to encourage foreign investors, offering financial and regional incentives.”
He additionally said that “the government is seeking to create territorial and social equity in the distribution of investments, so that various regions can benefit.”
In response to King Mohammed VI’s speech on the anniversary of the Green March, the Head of presidency concluded that “the government will continue its efforts by working to strengthen the role of Moroccans living abroad, whom we hope will, through their investments and expertise, serve as a driving force for the development of the industrial sector in our country.”
He additionally referred to as on “banking institutions to continue supporting industrial initiatives and assisting both Moroccan and foreign investors.”
