Morocco advances industrial sovereignty with $12.49 billion in new projects
On Monday, Industry and Trade Minister Ryad Mezzour announced the selection of 1,839 industrial projects aimed at enhancing Morocco’s industrial sovereignty. These projects, chosen by June 10, represent a total investment of MAD 124.9 billion ($12.49 billion).
The initiative seeks to strengthen domestic production capacities and reduce reliance on imports, with expectations to generate approximately 179,825 jobs across key manufacturing sectors. Speaking at the House of Representatives, Mezzour, through Secretary of State for Foreign Trade Omar Hejira, emphasized that these projects are critical for increasing domestic manufacturing of goods that can replace imported products.
The minister highlighted the significant advancements made in the industrial sector under the leadership of His Majesty King Mohammed VI, attributing this progress to various industrial plans implemented over the past two decades. He also noted that the momentum has been further accelerated following the COVID-19 pandemic, with a newly adopted strategy designed to position Morocco as a decarbonized industrial platform.
This strategy aims to enhance industrial sovereignty, improve competitiveness, and narrow the trade deficit. The selection of these projects marks a pivotal step toward achieving these goals and reinforcing Morocco's industrial self-sufficiency.
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