Assahafa.com
Morocco’s industrial exports have multiplied more than fivefold since the early 2000s, Minister of Industry Ryad Mezzour said on Wednesday.
He made his remarks during a discussion session, exploring the theme “Macroeconomic Policies, Investment Climate, and Employment Dynamics in Morocco.”
The event is part of a national conference organized by the thematic working group responsible for evaluating public policies related to investment and employment in the House of Councillors.
During the presentation, the minister said industrial exports reached around MAD 398 billion ($43.8 billion) in 2024, equivalent to 88% of the country’s total exports, pointing out that the foreign direct investment targeting the industrial sector has tripled over the last decade.
The FDI reached MAD 16.5 billion ($1.8 billion) in 2024, noting that this reflects the “growing confidence of international investors in the Moroccan economy and its status as a prime investment destination.”
Mohamed Taamouti, Director of Economic Studies at Bank Al Mahghrib, stressed the significant efforts Morocco made in the investment sector, noting that Morocco allocates about 30% of its GDP to investment.
The number is compared to a global average of about 25.2%, demonstrating a clear commitment to developing and strengthening economic and social infrastructure.
Investment, accelerated growth, and job creation are major challenges for both developed and developing countries, Taamouti said.
For his part, the director of Studies and Financial Forecast Adil Hidane emphasized the importance of a good business climate to achieve sustainable economic growth, stressing the central role of investment in both the public and private sectors.
Morocco has made significant progress in improving the business climate in recent years, Hidane said, highlighting King Mohammed VI’s vision that has enabled the progress of the industry and raised investment attractiveness as a national priority.
Among the sectors Morocco is boosting is the automotive industry.
Earlier this month, Minister Mezzour said that the country’s goal is to increase production to reach 107,000 electric vehicles by the end of 2025.
He said that Morocco’s automotive production stands at 700,000 vehicles, with an ambition to produce one million vehicles by the end of the year.
Between 2014 and 2018, the sector created at least 116,000 jobs. Morocco is the first automotive manufacturer in Africa.
Source: Morocco word news
