Daily Press Review - Friday, June 7, 2024
Morocco Hosts the First Electric Battery Gigafactory in the MENA Region
Morocco has taken a significant step towards becoming a regional leader in the automotive industry and energy transition with the signing of a strategic investment agreement between the Moroccan government and the Sino-European group, GOTION High-Tech. This historic agreement will facilitate the construction of the first electric battery "gigafactory" in Morocco and the MENA region.
With a capacity of 20 GWh, this gigafactory will produce batteries for electric vehicles, contributing to the decarbonization of transportation and the fight against climate change. The total investment amounts to 12.8 billion dirhams and is expected to create 17,000 direct, indirect, and induced jobs, including 2,300 high-skilled positions.
GOTION High-Tech, a global leader in the electric battery sector, chose Morocco for its strategic geographic location, skilled workforce, and commitment to sustainable development. This gigafactory is just the first phase of a more ambitious project. GOTION High-Tech plans to ultimately develop a total capacity of 100 GWh, with a global investment of 65 billion dirhams. This project will position Morocco as a major player in the global electric battery value chain.
Source: L'Economiste
Integration of Employees Covered by Insurance into AMO: A Major Change for the Sector
Employees currently benefiting from complementary medical coverage through insurance companies will soon transition to the Mandatory Health Insurance (AMO) regime. This integration, stipulated by Article 114 of the medical coverage law, ends a transitional period that has lasted nearly 20 years.
This change represents a significant financial challenge for industry stakeholders. Insurance companies are expected to lose around 4 billion dirhams in revenue, while brokers and agents could see their commissions decrease by nearly 400 million dirhams.
This transition is causing concern among intermediaries and insurance companies, who fear a turbulent period and a significant loss of clients. They are particularly worried about the potential disappearance of a substantial portion of their revenue and are calling for an additional delay to prepare for this change.
Despite these apprehensions, the integration of employees covered by insurance into AMO is considered essential to ensure universal and equitable medical coverage. Sector stakeholders will need to quickly adapt to this new reality by developing new complementary offers and focusing on innovation.
Source: L'Economiste
Operation Marhaba 2024: Warm Welcome and Exceptional Mobilization for MRE
Under the High Patronage of His Majesty King Mohammed VI, the Mohammed V Foundation for Solidarity has launched the 24th edition of Operation Marhaba, an annual initiative aimed at facilitating the return of Moroccans Residing Abroad (MRE) to Morocco during the summer period. This year, the operation runs from June 5 to September 15, 2024, and is marked by exceptional mobilization and enhanced reception arrangements both in Morocco and abroad.
A comprehensive reception system has been implemented simultaneously in Morocco, France, Spain, and Italy. In Morocco, 24 dedicated Marhaba sites are operational, offering MRE social assistance and medical care. These facilities are located in the country's main ports and airports, as well as rest areas and border crossings.
Additionally, six Marhaba spaces are present in European ports: Genoa (Italy), Sète and Marseille (France), Motril, Almería, and Algeciras (Spain).
In total, 1,400 people, including Foundation executives, social workers, doctors, paramedical staff, and volunteers, are mobilized to ensure a warm and personalized welcome for the MRE. These teams are deployed across the various Marhaba sites to assist MRE, answer their questions, and provide the necessary support.
Source: Le Matin du Sahara
E-Blagh: A New Platform to Combat Cybercrime in Morocco
The General Directorate of National Security (DGSN) has launched the "E-Blagh" digital platform dedicated to fighting cybercrime. This interactive platform allows internet users and social media users to report any criminal and violent digital content immediately and securely.
E-Blagh is accessible from Morocco and abroad on all internet browsing devices and applications, whether computers, tablets, or smartphones.
The platform's design takes into account the protection of users' personal data. Users have the option to report illegal content anonymously.
E-Blagh is part of the co-production of security. The DGSN encourages citizens to report any content that threatens public safety to contribute to the fight against cybercrime.
Source: Le Matin du Sahara
Moroccan Court of Auditors and Libyan Audit Bureau Strengthen Cooperation
The Moroccan Court of Auditors and the Libyan Audit Bureau have signed a memorandum of understanding to develop their cooperation in the field of public finance oversight.
This memorandum of understanding is part of the strong bilateral relations between Morocco and Libya and aims to enhance the capacities of both institutions in financial oversight. Both parties have expressed their willingness to share their knowledge and experiences, exchange best practices, and develop working mechanisms in line with international standards.
Source: Le Matin du Sahara
Oncorad Unveils Revolutionary Surgical Robot
The Oncorad Group, a leader in health and medical technology in Morocco, unveiled its revolutionary surgical robot, Tournai, today before an enthusiastic audience of doctors, experts, and curious onlookers. This robot promises to transform medical practice in Morocco and Africa.
With 25 years of experience, Oncorad confirms its status as a pioneer in medical innovation with this surgical robot designed to assist surgeons in complex operations. Tournai offers unparalleled precision and efficiency while reducing risks for patients.
Even before its official presentation, the robot has already been successfully used in ten operations at the Littoral Clinic in Casablanca. These interventions have reduced recovery times by 30% and post-operative complication risks by 25%.
"This is a beginning in the history of robotic surgery in Morocco," said Redouane Samlali, CEO of the Oncorad Group. "Today, surgeons have the means to operate with four very agile arms that go deep with unmatched precision."
Source: Les Inspirations Eco
Dubai Explores Opportunities in Casablanca: An Economic Forum to Strengthen Trade Ties between Morocco and the UAE
The Casablanca-Settat Chamber of Commerce, Industry, and Services (CCISCS) and the Dubai International Chamber, in collaboration with CGEM, AMDIE, and the Rabat Chamber of Commerce, organized an economic forum this Wednesday under the theme: "Doing Business with Morocco and the UAE." This event aimed to strengthen economic relations between the two countries and identify new partnership opportunities.
Hassane Berkani, President of CCISCS, emphasized the depth of relations between Morocco and the United Arab Emirates, based on significant fraternal, historical, and economic ties. He also highlighted that Casablanca and Dubai, two of the largest cities in North Africa and the Middle East, play a crucial role in developing trade exchanges between the two regions.
Mohammad Lootah, CEO of the Dubai Chambers of Commerce, stated that Morocco holds strategic importance for the Dubai business community. He expressed confidence that collaboration between the two chambers of commerce will enhance opportunities and partnerships between Moroccan and Emirati companies.
On the sidelines of the forum, a partnership agreement was signed between CCISCS and the Dubai International Chamber. This agreement aims to promote, facilitate, and develop economic and commercial cooperation between the two countries. It includes provisions for jointly organizing economic missions, training sessions, and seminars.
Source: Les Inspirations Eco
German Development Bank Grants 100 Million Euros to Morocco for Reconstruction of Al Haouz Earthquake-Affected Regions
Morocco has secured a 100 million euro loan from the German Development Bank (KfW) to support the reconstruction of regions affected by the Al Haouz earthquake, which occurred on September 8, 2023.
This loan agreement was signed between Morocco's Ministry of Economy and Finance and Germany's Federal Ministry for Economic Cooperation and Development (BMZ), represented by KfW. It forms part of Germany's budgetary support to Morocco to assist with its reconstruction and upgrading program for the earthquake-affected areas.
The 100 million euro loan will fund two main components of the reconstruction program:
- Emergency Aid and Reconstruction:This component, estimated at around 22 billion dirhams, will include financial assistance to households affected by the earthquake as well as the reconstruction of basic infrastructure such as roads, bridges, schools, and hospitals.
- Long-Term Development Program: This component, amounting to nearly 98 billion dirhams, aims to strengthen infrastructure in the affected regions and stimulate local economic development.
By granting this loan, Germany expresses its solidarity with Morocco following the Al Haouz earthquake. This financial support will help accelerate the reconstruction and upgrading of the affected regions and mitigate the socio-economic impacts of the earthquake on the affected populations.
The Moroccan government has implemented a comprehensive reconstruction and development program worth approximately 120 billion dirhams. This program aims to rebuild the affected areas, strengthen infrastructure, and stimulate local economic development. The KfW loan will significantly contribute to financing this ambitious program.
Source: Aujourd'hui le Maroc
Vitamin Sea Opens a New Era of Aquaculture in Morocco with the First Closed-Circuit Farm
Vitamin Sea is opening a new chapter in the history of aquaculture in Morocco with the inauguration of the country's first closed-circuit farm. This revolutionary farm promises to delight Moroccan consumers with shrimp of exceptional quality, combining traceability and unparalleled flavor.
Vitamin Sea is committed to offering Moroccan consumers impeccable quality shrimp, raised in total respect for the environment. The company uses a closed-circuit farming system, which allows for the control of all aspects of the production process, thus ensuring healthy shrimp free from chemicals or antibiotics.
At Vitamin Sea, the well-being of the shrimp is a top priority. The company ensures they are provided with the best possible living conditions, including healthy and balanced nutrition and adequate living space. Each stage of their development is meticulously monitored, ensuring exceptional taste quality.
To guarantee optimal freshness, Vitamin Sea shrimp are harvested, packaged, and delivered within just a few hours. This approach preserves all their taste and nutritional qualities, offering consumers a product of exceptional quality.
Source: Aujourd'hui le Maroc