Mezzour: “The automotive sector ready for a new phase with the support of the Stock Exchange”


The automotive sector is ready to initiate a new phase of industrial development which would require support from the stock market and solid relationships with the financial ecosystem to encourage investments, the Minister of Industry and Commerce said on Wednesday in Rabat. , Ryad Mezzour.

Speaking at a conference under the theme “Roll into the future: How the stock market can support the Moroccan automotive sector to catalyze its growth potential and project itself towards a future of expansion”, Mr. Mezzour underlined the The urgency of capitalizing on the dynamic development of the automotive sector which has seen a remarkable increase in its exports over the last five years.

He added that Morocco is now establishing itself as a key player in the automobile sector, marking the start of a new era focused on autonomy and increased influence of Moroccan skills in the sector. The minister, in this sense, called for going beyond the borders of the national market to engage in highly competitive international markets rich in opportunities, pleading for a synergy of financial and human resources to develop a winning strategy, not only to support the growth of the automotive sector but also to create industrial champions.

For his part, the chairman of the Board of Directors of the Casablanca Stock Exchange, Kamal Mokdad, noted that the automobile sector today represents 1% of Morocco’s market capitalization, with ambitions to double or triple this contribution in the short term. term, highlighting the importance of the Stock Exchange as a pillar of financing for the Moroccan economy. For his part, the general director of the Casablanca Stock Exchange, Tarik Senhaji, specified that this planned collaboration between the Stock Exchange and the automobile sector is seen as beneficial for both parties, thus consolidating the position of Casablanca as a structuring financial hub for the Morocco on the world stage.

When his turn came, the president of the Automobile Federation of the General Confederation of Moroccan Enterprises (CGEM), Adil Zaidi, mentioned that the automobile sector has an annual turnover of more than 220 billion dirhams (MMDH), with exports of more than 140 billion dirhams by the end of 2023, considering it as a sector conducive to development with the support of financial markets and its various possibilities. As for Pierre Fleuriot, member of the Board of Directors of Renault Group and member of the Board of Directors of the Stock Exchange, he praised the performance of the Stock Exchange, describing it as an effective financial tool offering complete financing solutions for the sector automobile, as well as stock market listing which facilitates the raising of capital and ensures the transparency necessary to finance such investments.

Organized jointly by the Ministry of Industry and Commerce, the Casablanca Stock Exchange and the CGEM Automobile Federation, this conference highlighted the development of the automobile sector in Morocco and the methods of financing companies in the sector with their listing. in stock exchange.

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