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Wednesday, December 7, 2022

Investment Commission: 15 Projects Approved for Nearly MAD 10.8 Bln

The Investment Commission, convened Wednesday in Rabat, under the chairmanship of the Head of Government, Aziz Akhannouch, has approved 15 agreements and amendments to investment projects for a total amount of 10.8 billion dirhams.

The investment projects, which should allow the creation of 2,907 direct and indirect jobs, concern telecommunications (MAD 5.7bln, i.e. 53% of projected investments) and industry (MAD 3.2bln), said a statement by the Department of the Head of Government, issued after the 85th meeting of the Commission.

The projects with mixed foreign capital represent the major part of the projected investments with nearly 9.2 billion dirhams.

Speaking on this occasion, the Head of Government recalled the importance of investment, which is the main lever of economic recovery and an essential relay for job creation.

As such, the Government is fully committed to the implementation of structural reforms to boost investment throughout the national territory, within the framework of the High Instructions of HM the King on the Investment Charter.

Quoted in the statement, the Head of Government recalled the need to ensure the efficiency of the projects examined by the Commission, calling for holding meetings on a regular basis.

The meetings of the Investment Commission, he said, are not only an opportunity to approve new agreements but also an opportunity to review the progress of the projects approved at previous meetings.

Since the beginning of the mandate, five Investment Commissions have been held, which led to the approval of 46 draft agreements and amendments for a total amount exceeding 33.4 billion dirhams and allowed the creation of nearly 5,816 direct jobs and 8,475 indirect jobs.

These results confirm the positive trend of investments made in Morocco despite a difficult international situation. They are the result of the solid economic fundamentals of the Kingdom.

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