Hibapress
Foreign direct investments (FDI) in Morocco recorded net income of 16.3 billion dirhams during the first nine months of 2024, the Head of Government, Aziz Akhannouch, indicated on Monday in the House of Representatives. .
Speaking during the monthly session of oral questions devoted to “the centrality of the foreign trade sector in the development of the national economy”, Mr. Akhannouch noted that these revenues represent an increase of 50.7% compared to the same period last year “which had experienced a drop in revenue, like all countries in the world, particularly African countries”.
And to add that these FDI, which have been announced in recent months, constitute a real force of attractiveness for foreign investors, especially since they will be strengthened soon thanks to the New Investment Charter, noting that it is “a strategic choice which resulted in the signing of several important investment agreements, notably the electric battery manufacturing ecosystem, the first of its kind in Morocco”.
Requiring an investment of 3 billion dirhams, this project should contribute to the creation of more than 2,500 job opportunities, noted the head of government.
Likewise, he recalled that the government had signed a memorandum of understanding with an international player for the creation of the first factory in Africa for the production of electric car batteries and energy storage systems in Morocco with an investment of approximately 65 billion dirhams, adding that “this will contribute to the creation of 25,000 direct and indirect jobs, which highlights “the leadership and positioning of the Kingdom in the areas of automotive industries”.
Given this regional and international influence of Morocco in this area, continues Mr. Akhannouch, the government is determined, under the wise leadership of HM King Mohammed VI, to continue promoting the green hydrogen sector capable of strengthening positioning the Kingdom as a global axis for sustainable energy and an essential lever for the creation of wealth and employment opportunities.
He underlined, in this sense, that the government launched “The Green Hydrogen Morocco Offer” which constitutes a competitive and stimulating offer in this area, with a global and transparent approach and a clear vision for investors, noting that since the publication of the circular implementing “The Morocco Offer” last March until the holding, last week, of a meeting of the Steering Committee, the Moroccan Agency for Sustainable Energy (MASEN) received nearly 40 requests from all over the world (America, Europe, Asia, Australia and Morocco too), covering in particular the Southern Provinces of the Kingdom.
“This data is conclusive proof of the promising prospects of this sector, and of the great confidence that Morocco enjoys with regard to foreign and Moroccan investors in this area,” he rejoiced.
Furthermore, Mr. Akhannouch noted that “the progress made over the last two years constitutes a manifestation of the overall transformation of the national economy and the natural result of a continuous effort by the Executive to respond to development issues and sustainable growth. However, the real challenge remains to obtain a very advanced assessment, particularly in strategic sectors, after the government has established the basic elements to build the Kingdom’s foreign trade on solid and sustainable foundations.
And to underline that Morocco represents a real model in terms of attractiveness of FDI “because we have worked since the inauguration of the government to define priorities and programs, with the aim of developing the industrial sector, particularly high-value industries. added”.
