Economy

Expansion of Kenitra Export Zone to Address Increasing Investor Demand

Friday 09 February 2024 - 08:10

The Moroccan government has recently sanctioned the expansion of the Kenitra export processing zone in response to burgeoning investor interest in the region.

In an announcement made on Thursday, following a meeting presided over by Prime Minister Aziz Akhannouch, the government disclosed plans to augment the size of the tax-exempt trade hub by over 190 hectares, bringing the total area of the special economic zone to 442 hectares.

Industry Minister Ryad Mezzour, the proponent of the expansion proposal, elucidated that the objective is to enhance industrial development in the greater Rabat-Salé-Kenitra area, while also capitalizing on the initial success of the neighboring Kenitra Industrial Acceleration Zone, inaugurated in 2021.

Government spokesperson Mustapha Baitas emphasized that the expanded special zone will contribute to diversifying Morocco’s offering of industrial land, catering to both foreign and domestic companies. Notably, the kingdom has witnessed a significant surge in investor interest in its network of free trade zones in recent years.

With the formal approval granted by Morocco’s National Commission for Industrial Acceleration Zones earlier this month, authorities can now proceed with integrating the new land into the special economic area. This will enable businesses across various sectors, from automotive to aerospace, to establish operations within the zone and avail themselves of its custom duty exemptions and tax incentives.