Morocco Allocates 18,000 Hectares for 2024 Development Projects

Thursday 19 December 2024 - 07:35

By: Dakir Madiha

Morocco Allocates 18,000 Hectares for 2024 Development Projects

Morocco has designated approximately 18,000 hectares of public land for investment initiatives in 2024. The projects aim to bolster sectors critical to the nation’s growth, including renewable energy, tourism, and housing.

Nadia Fettah, Minister of Economy and Finance, addressed the House of Councillors on Tuesday, emphasizing the strategic significance of these allocations. She highlighted that the initiative will support 152 projects, representing a total investment of nearly MAD 19 billion ($1 billion).

Key allocations include:

Energy: 15,000 hectares have been earmarked to advance Morocco’s renewable energy ambitions.

Tourism: 84 hectares will be used to enhance this vital economic sector.

Handicrafts: 56 hectares are allocated to preserving cultural and economic heritage.

Housing: 64 hectares will address urbanization challenges.

Agriculture: Over 1,000 hectares are designated for agricultural development.

Public Administration: 322 hectares are reserved for government infrastructure.

The government is prioritizing balanced regional development and equity in investment planning, aligning with the principles of Morocco’s Investment Charter. The initiative also includes issuing land titles for 349,000 hectares, a move designed to improve transparency and streamline the management of state-owned land.

Fettah stressed the importance of regional equity, ensuring that investment opportunities are distributed fairly across all areas. The ultimate goal is to foster inclusive growth while addressing national priorities in healthcare, education, and infrastructure.

This strategic approach positions Morocco as an increasingly competitive destination for investment while supporting sustainable development across the nation.