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Tuesday, May 21, 2024

Industrial Products Account for Over 86% of Moroccan Exports – Minister

Industrial products account for 86.8% of Moroccan exports, the Minister of Industry and Trade, Ryad Mezzour, said Tuesday at the House of Councillors.

In his response to an oral question on assessment of the national industrial policy, presented by the Popular Movement party Group, Mezzour reported 1,600 industrial projects with a budget of 125 billion dirhams, adding that these investments aim to create 320,000 jobs over the next three years.

Regarding the distribution of some of these investments, the Minister said that 596 projects are small and very small businesses and create 26,000 jobs, while 817 projects involve medium-sized enterprises with the aim of creating 80,000 direct jobs, highlighting a strong demand for investment in the field of industry from young people, in addition to the national capital, which accounts for 88% of investment in industry.

In this wake, he stressed that the Ministry had exhausted, at the end of March, the budget allocated to support industrial investment of small and medium enterprises, indicating that the Ministry has requested additional funds to accompany the pace of this dynamic job creator.

In addition, 100,000 net jobs have been created in the industry sector since the beginning of the government’s mandate until the end of February this year, noted Mezzour.

 

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