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Thursday, May 30, 2024

Compact II: Minister Says ‘Industrial Land’ Activity Achieves ‘Very Positive’ Outcome

The Minister of Industry and Trade Ryad Mezzour said on Monday in Rabat that the “Industrial Land” activity under the Moroccan-American cooperation program Compact II has achieved an overall “very positive” outcome.

Speaking at the opening of a seminar to present the implementation assessment of “Industrial Land” activity, Mezzour said that this successful project represents a boost for the implementation and realization of new initiatives in this direction, supported by the new law on industrial zones that provides concrete answers to the industrial land problem.

The goal, he said, is to promote the attractiveness of industrial investment in the context of public-private partnership (PPP), which will allow, initially, the establishment of three new industrial zones, in addition to nine new areas, equipped with all the norms and standards of sustainability, including the wastewater purification.

Regarding the new law on industrial zones, the Minister noted that among the intervention fields of this law, is to recover industrial land not valued with a more fluid and rapid approach without going through the judicial process, considered quite long.

The national industrial land has now 150 industrial zones with an area of 12,000 hectares throughout the country, he said, reiterating, in this regard, his department’s commitment to improve land supply and upgrade existing one.

For her part, the Director General of the Agency Millennium Challenge Account-Morocco (MCA-Morocco), Malika Laasri, said that this seminar is an opportunity to share the successes of this project, the lessons learned, but also the points to improve for future projects.

According to her, the Compact program is itself a modeling project, in which several approaches have been tested. Those that are successful will now be made available to partners to continue replication in the rest of the industrial zones.

For her part, the resident director of Millennium Challenge Corporation (MCC) in Morocco, Carrie Monahan, said she was proud of the completion of the work of this project estimated one hundred percent successful and will allow to create some 80,000 jobs in Morocco but also to stimulate private investment of about 500 million dollars.

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