Morocco's National Investment Commission approved 29 investment agreements and nine amendments on Thursday, representing a total investment value of around 42 billion dirhams ($4.2 billion), as the Kingdom continues to accelerate efforts to attract investment and boost job creation.
The projects were approved during the commission's 11th session, chaired in Rabat by Prime Minister Aziz Akhannouch, under Morocco's basic investment support scheme.
According to a statement from the Prime Minister's Office, the projects are expected to generate nearly 9,800 jobs, including around 2,400 direct positions and 7,400 indirect jobs.
The approved investments will be spread across 16 provinces and prefectures in six regions of the Kingdom, notably including Al Haouz, El Jadida, Moulay Yacoub, Nador, Rehamna and Taroudant.
The projects cover 13 sectors, including tourism and leisure, chemical and semi-chemical industries, agri-food industries, port infrastructure, aerospace, logistics, trade and distribution, telecommunications, waste processing and recovery, and renewable energy.
The agri-food industry is expected to create the highest number of jobs among the newly approved projects, followed by the chemical and semi-chemical industries and the aerospace sector.
Under the special support scheme for strategic investment projects, the commission also approved three additional projects worth 8.4 billion dirhams ($840 million), expected to create more than 2,700 direct jobs, alongside an amendment to an existing investment agreement.
These strategic projects span the electric vehicle manufacturing, aerospace and textile sectors and will be located in the regions of Casablanca-Settat, Rabat-Salé-Kénitra, Fez-Meknes and Tangier-Tetouan-Al Hoceima.
The commission also granted strategic status to three other projects worth more than 29 billion dirhams ($2.9 billion), which are expected to create more than 1,100 direct jobs.
At the start of the meeting, Akhannouch highlighted what he described as the positive results of Morocco's new Investment Charter, which has enabled the signing of 391 investment agreements worth a combined 520 billion dirhams ($52 billion) since its entry into force three years ago.
The Prime Minister said the charter had made significant progress in promoting balanced regional development, supporting sustainable employment, advancing gender equality, encouraging sustainable development and fostering the emergence of promising industrial sectors.
He also praised the Kingdom's success in attracting major strategic projects that are expected to strengthen Morocco's competitiveness and consolidate its economic sovereignty over the long term.
