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Economy


Over 61,000 New Businesses Created in Morocco by August 2024

Morocco has witnessed an impressive surge in entrepreneurial activity, with over 61,000 new businesses established by August 2024, according to the Moroccan Office of Industrial and Commercial Property (OMPIC). The report highlights a remarkable growth in the business landscape, with a total of 61,178......

Morocco Awards MAD 2.32 Billion Contract for High-Speed Rail Expansion

Kenitra-Marrakech LGV Project Advances with Gezhouba's Viaduct Deal Morocco's ambitious high-speed rail project connecting Kenitra to Marrakech has taken a significant step forward. The China-based Gezhouba Group has secured a MAD 2.32 billion ($225 million) contract to construct critical viaducts......

World Bank Strengthens $8 Billion Development Partnership with Morocco

The World Bank has reinforced its commitment to Morocco's development agenda, highlighting a robust partnership that encompasses 27 active projects valued at $8 billion. This announcement comes one year after the landmark 2023 Annual Meetings held in Marrakech. The institution's renewed dedication......

Morocco's Railway System Unveils $939 Million Expansion Plan Through 2027

Morocco's National Railways Office (ONCF) has announced an ambitious MAD 9.78 billion ($939 million) investment strategy spanning 2025-2027, marking a significant advancement in the country's transportation infrastructure. The comprehensive plan, detailed in the public establishments and enterprises......

Morocco Secures Major Foreign Investments While Preparing for Global Sports Events

Morocco's economic landscape is experiencing significant transformation, marked by substantial foreign investments and ambitious infrastructure developments. The nation's strategic focus on automotive manufacturing and green hydrogen initiatives is reshaping its industrial sector, while preparations......

Morocco's Economic Resilience Showcased at IMF-World Bank Anniversary Event

Washington D.C. witnessed a celebration of the enduring partnership between Morocco and the International Monetary Fund (IMF) and World Bank Group on Wednesday evening. The event, hosted by the Moroccan Embassy, marked the first anniversary of the prestigious annual meetings held in Marrakech last year. Addressing......

Green Hydrogen Ambitions: Morocco's Path to Renewable Energy Leadership

Morocco has unveiled a transformative initiative aimed at generating 30,000 jobs in the burgeoning green hydrogen sector, marking a significant step in the country's renewable energy strategy. During the World Power-to-X Summit in Marrakech, Younes Sekkouri, Minister of Economic Inclusion, Small......

German and Chinese Firms Secure Crucial Contracts for Morocco's High-Speed Rail Project

Morocco's national railway operator, ONCF, has awarded significant contracts to German and Chinese companies for the supply of essential components in the country's ambitious high-speed rail expansion project. This development marks a major step forward in enhancing Morocco's transportation......

Morocco's Aviation Sector Soars: A Catalyst for Economic Growth and Sustainability

Morocco's aviation industry is emerging as a powerful engine of economic development, with projections indicating a 50% growth in the sector by 2043. This expansion is set to significantly boost the country's GDP and advance its ambitious sustainability goals, according to recent insights shared......

Climate Change Threatens Morocco's Coastal Tourism: World Bank Warns of Significant Job Losses

Morocco's coastal tourism sector, a vital component of its blue economy, faces a stark challenge as climate change threatens to erode up to 32% of jobs by 2035, according to a recent World Bank report. The study, "Climate Change Impacts on the Blue Economy in Morocco: Prospects for Jobs in Coastal......

Morocco's Petroleum Sector: A Transformative Marking System to Boost Transparency and Efficiency

Morocco's petroleum sector is on the cusp of a significant transformation, with the introduction of a new marking system set to revolutionize the industry's operations and governance. This ambitious initiative, slated for implementation in 2025, aims to enhance transparency, streamline processes,......

Onda Appoints New Directors to Propel Modernization of Major Moroccan Airports

In a strategic move aimed at enhancing the operational efficiency and modernization of Morocco's aviation sector, the National Office of Airports (ONDA) has announced the appointment of new directors for several key airports across the country. This initiative underscores the government's commitment......

Morocco and Senegal Forge Railway Alliance: A New Era of African Transportation Cooperation

Morocco and Senegal have taken a significant step towards strengthening their partnership in the transportation sector. On Thursday, the two nations signed two framework cooperation agreements aimed at boosting railway development, marking a new chapter in their bilateral relations. The agreements were......