Morocco inks new billions of dollars investment projects

His Majesty King, Mohammed VI at the inauguration of one Morocco's leading projects. Photo : MAP

NEWSROOM (ADV) – Moroccan government has approved 28 new investment projects worth 2.4 billion U.S. dollars in various sectors, the prime minister’s office said in a statement on Wednesday.

The projects will create 4,346 direct jobs and 7,934 indirect ones, the statement said following a meeting of the Inter-ministerial Investment Commission under the chairmanship of Moroccan Prime Minister Saad Eddine El Othmani.

The breakdown of investments by sector shows a strong predominance of transport and infrastructure sectors with nearly 994 million dollars, representing nearly 42 percent of the total investments submitted to the committee.

Telecommunication projects hold the second position with nearly 19 percent of the planned investments, while tourism sector ranks third with 17 percent of investments and industry sector with 12 percent.

About 60 percent of the investments projects are funded by Moroccan investors, and the rest is by either funder by international investors or through partnership between local and international partners.

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