Approval of 48 investment projects worth 28 billion dirhams, creating 7,567 jobs
23 September 2010
Read by 1440 persons
The investment committee, meeting Friday in Rabat under the chairmanship of Prime Minister Abbas El Fassi, approved 48 projects totaling 28 billion dirhams (MMDH), expected to generate 7,567 jobs.
The 48 projects adopted by the committee are divided into 17 investment agreements, 29 amendments to investment agreements, two framework agreements and one proposed agreement, a statement from the Prime Minister's office said.
The committee, which devoted Friday's meeting to examining 51 investment projects totaling an estimated 48 billion dirhams, will continue to examine two projects related to the tourism and petrochemical sectors, with a total estimated cost of 20 billion dirhams. The approved investment projects concern the chemical and petrochemical industries, automobile construction, energy, tourism, agri-food, urban transport, commercial zone development, mining and distribution.
These projects will be carried out in the regions of Tangier-Tetouan, Marrakech Tensift-El Haouz, Greater Casablanca, Oued Eddahab Lagouira, Laayoune-Boujdour-Sakia El Hamra, El Gharb-Cherarda-Beni Hsein, Chaouia-Ourdigha, Tadla Azilal and Souss-Massa-Draa.
At the beginning of this meeting, Mr. El Fassi stressed that the wise choices made by the Kingdom and the reforms undertaken by Morocco over the past 10 years to promote investment have allowed the country's economy to show proven resilience in a context of international crisis.
"We must salute with pride and dignity the colossal efforts deployed by His Majesty King Mohammed VI, may God assist him, for an integrated and sustainable development of the Kingdom," stressed Mr. El Fassi.
Regarding the projects submitted to the committee for examination, the Prime Minister highlighted the establishment of new foreign investors in the Kingdom, particularly those from the United States of America, noting that domestic investments lead the way with some 45 billion dirhams (91% of investments), followed by foreign investments with more than 2.2 billion dirhams (7% of investments), and joint projects with more than 838 million dirhams, or 2%.
The Prime Minister also highlighted the positive assessment of the committee's actions during the period from January to September, as it was able to examine some 96 projects totaling an estimated 83.5 billion dirhams, expected to generate more than 21,000 jobs.
In this context, Mr. El Fassi called on the Moroccan Agency for the Development of Investments (AMDI) to increase its efforts through better marketing of Morocco's assets and the dissemination of the facilities offered by the Kingdom to national and foreign investors.
Mr. Abass El Fassi also indicated that the inter-ministerial investment commission examined, during the period from January to September 2010, some 96 projects totaling an estimated 83.5 billion dirhams (MMDH).
These projects will create 21,000 jobs, the Prime Minister stressed, adding that "the continuation of the necessary reform projects constitutes a qualitative leap in the management of the investment file in our country, which will preserve the Kingdom's natural, cultural and civilizational assets".
Furthermore, Mr. El Fassi affirmed that "the continued strengthening of the performance of the national economy, notably through the support of sectoral strategies, the diversification of growth sources, the simplification of investment procedures and the prospecting of new markets, are likely to ensure a growth rate that will reduce the unemployment rate and improve the purchasing power of citizens".
The meeting was attended by Minister of State Mohamed El Yazghi, Minister of Industry, Trade and New Technologies, Minister of Tourism and Handicrafts, the Secretaries General of the Ministries of Economy and Finance, Equipment and Transport, the Environment Department, the Director General of the Moroccan Agency for the Development of Investments, the Director General of the Agricultural Development Agency and representatives of the relevant departments.
Published September 19, 2010
Posted online September 23, 2010
Actu-Maroc.com
The 48 projects adopted by the committee are divided into 17 investment agreements, 29 amendments to investment agreements, two framework agreements and one proposed agreement, a statement from the Prime Minister's office said.
The committee, which devoted Friday's meeting to examining 51 investment projects totaling an estimated 48 billion dirhams, will continue to examine two projects related to the tourism and petrochemical sectors, with a total estimated cost of 20 billion dirhams. The approved investment projects concern the chemical and petrochemical industries, automobile construction, energy, tourism, agri-food, urban transport, commercial zone development, mining and distribution.
These projects will be carried out in the regions of Tangier-Tetouan, Marrakech Tensift-El Haouz, Greater Casablanca, Oued Eddahab Lagouira, Laayoune-Boujdour-Sakia El Hamra, El Gharb-Cherarda-Beni Hsein, Chaouia-Ourdigha, Tadla Azilal and Souss-Massa-Draa.
At the beginning of this meeting, Mr. El Fassi stressed that the wise choices made by the Kingdom and the reforms undertaken by Morocco over the past 10 years to promote investment have allowed the country's economy to show proven resilience in a context of international crisis.
"We must salute with pride and dignity the colossal efforts deployed by His Majesty King Mohammed VI, may God assist him, for an integrated and sustainable development of the Kingdom," stressed Mr. El Fassi.
Regarding the projects submitted to the committee for examination, the Prime Minister highlighted the establishment of new foreign investors in the Kingdom, particularly those from the United States of America, noting that domestic investments lead the way with some 45 billion dirhams (91% of investments), followed by foreign investments with more than 2.2 billion dirhams (7% of investments), and joint projects with more than 838 million dirhams, or 2%.
The Prime Minister also highlighted the positive assessment of the committee's actions during the period from January to September, as it was able to examine some 96 projects totaling an estimated 83.5 billion dirhams, expected to generate more than 21,000 jobs.
In this context, Mr. El Fassi called on the Moroccan Agency for the Development of Investments (AMDI) to increase its efforts through better marketing of Morocco's assets and the dissemination of the facilities offered by the Kingdom to national and foreign investors.
Mr. Abass El Fassi also indicated that the inter-ministerial investment commission examined, during the period from January to September 2010, some 96 projects totaling an estimated 83.5 billion dirhams (MMDH).
These projects will create 21,000 jobs, the Prime Minister stressed, adding that "the continuation of the necessary reform projects constitutes a qualitative leap in the management of the investment file in our country, which will preserve the Kingdom's natural, cultural and civilizational assets".
Furthermore, Mr. El Fassi affirmed that "the continued strengthening of the performance of the national economy, notably through the support of sectoral strategies, the diversification of growth sources, the simplification of investment procedures and the prospecting of new markets, are likely to ensure a growth rate that will reduce the unemployment rate and improve the purchasing power of citizens".
The meeting was attended by Minister of State Mohamed El Yazghi, Minister of Industry, Trade and New Technologies, Minister of Tourism and Handicrafts, the Secretaries General of the Ministries of Economy and Finance, Equipment and Transport, the Environment Department, the Director General of the Moroccan Agency for the Development of Investments, the Director General of the Agricultural Development Agency and representatives of the relevant departments.
Published September 19, 2010
Posted online September 23, 2010
Actu-Maroc.com
