Economy
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......
Canadian mining powerhouse, Aya Gold & Silver, stands on the brink of securing a substantial infusion of capital to drive its Moroccan operations to new heights. On Tuesday, the company unveiled a pivotal agreement with multiple partners for the acquisition of 6.6 million common shares at $10.25......
In the realm of Moroccan customs, 2023 marked a year of modest progress, with recent data revealing a slight uptick in overall revenues amidst fluctuating streams of income. Despite facing some ups and downs, the total net customs revenues for 2023 reached 84.49 billion dirhams ($8.3 billion), showcasing......
Predator Oil & Gas has solidified its partnership with Star Valley Rig 101 to delve deeper into Morocco's gas-rich reservoirs. The Jersey-based exploration company has prolonged its contract with the rig, now slated to continue operations until May 2024, to execute its fifth well in the Guercif......
In a crescendo of rapid user growth, Spotify, the music streaming, has surged past the 600 million monthly listeners mark in the fourth quarter of 2023. This milestone heralds a significant moment for the Swedish audio powerhouse, as it forecasts its inaugural profitable quarter in early 2024, signaling......
RABAT - In a recent press briefing, UN Deputy Secretary-General Amina J. Mohammed lauded Morocco for its exceptional commitment to environmental sustainability and clean energy, positioning the nation as a beacon for other developing countries in the fight against climate change. During her address......
The Office National des Chemins de Fer (ONCF) swiftly addressed today's misleading reports suggesting a Chinese company was set to secure the contract for constructing the new high-speed rail line connecting Marrakech to Agadir. In a decisive press statement, the national railway operator clarified......
During a ministerial conference in Rabat, Morocco's Foreign Minister, Nasser Bourita, fervently championed the cause of middle-income countries (MICs), labeling them as an often disregarded "engine of the global economy." Bourita highlighted a significant discrepancy: while MICs account......
In 2023, Morocco witnessed a staggering blow to its job market as drought conditions wreaked havoc on the agriculture sector, historically the nation's primary employer. Unemployment soared to 13%, a rate not seen in over two decades, according to a recent report by the Higher Commission of Planning......
In a significant move aimed at enhancing cooperation in the social insurance sector, Morocco’s state-owned financial institution, Caisse de Dépôt et de Gestion (CDG), has entered into a Memorandum of Understanding (MoU) with Saudi Arabia’s General Organization for Social Insurance......
Minister of Economy Nadia Fettah Alaoui assured Moroccan citizens on Tuesday that the government's tax overhaul for 2024 will not diminish their purchasing power. Addressing concerns raised by the Supreme Audit Board before parliament, Nadia Fettah Alaoui confidently stated that the proposed VAT......
Morocco's automotive industry is experiencing rapid acceleration, evidenced by a remarkable 27% surge in exports in 2023, reaching $13.9 billion, as reported by the nation's foreign trade regulator. The North African kingdom has firmly established itself as a continental leader in car manufacturing,......
In 2023, remittances from Moroccan expatriates reached an all-time high of nearly 115.15 billion Moroccan dirhams ($11.5 billion), as reported by the country's Foreign Exchange Office. This figure marks a notable 4% increase compared to the previous year, underscoring the robust economic ties between......
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