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MARROCO: 34 approved projects with a total cost of more than $1.2 billion

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A total of 34 projects were reviewed and approved by the Investment Committee in Morocco, meeting on Wednesday under the chairmanship of the Head of Government, Saad Eddine El Otmani. Totalling $1.26 billion (DH 11.3 billion), these projects are expected to create 3,500 direct jobs and 5,819 indirect jobs, according to a press release from the Ministry of Industry, Trade, Green and Digital Economy. By APA

The breakdown of investments by sector highlights the tourism and leisure sector, with 3.29 billion DH (1 dollar = 8.95 DH), or more than 29% of planned investments, followed by the transport and infrastructure sector with 2,47 billion DH and the education and higher education sector with 2.27 billion DH, while the renewable energy and seawater desalination sector occupies the 4th position with 2 billion DH.

By sectoral distribution of jobs, the tourism and leisure sector is the main source of employment, points out the same source, noting that projects in this sector foresee the creation of 1,365 direct jobs or 39% of the jobs to be created.

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In terms of the distribution of investments by region of location, the Casablanca-Settat region comes in first position with 3.84 billion, or 34% of planned investments, followed by the Rabat-Metz region.Salé-Kénitra with investment projects of the order of DH 3.39 billion.

With 7.45 billion Moroccan capital projects account for the majority of planned investments, or nearly 66%. These projects were initiated as part of the implementation of major projects in the sectors of industry, education and higher education and tourism and recreation.

Morocco-France joint ventures are ranked second with investments estimated at DH 2 billion, or more than 17% of the total investment amount approved by the commission, followed by investments from the United Arab Emirates with DH 1.44 billion.

Source : APA

       

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