Morocco steps up efforts in key industrial sectors
3 December 2012
Read by 1448 persons
Morocco has accelerated efforts to boost growth in key industrial sectors such as electronics and aeronautics, the international economic intelligence firm Oxford Business Group (OBG) said on Friday.
As part of the National Pact for Industrial Emergence, which aims to create 220,000 new jobs in the sector by 2015 and increase GDP by 50 billion dirhams, these efforts aim to increase Morocco's exports and diversify its production while creating jobs, OBG said.
Development projects in high value-added industrial sectors should receive a serious boost with the opening in mid-2013 of a new industrial park worth 500 million euros. This will be dedicated to companies in the aeronautics, defense and on-board electronic security sectors, the think tank added. It also recalled the significant foreign direct investment that the aeronautics sector has attracted in recent years, despite the global economic crisis and instability in the region.
10,000 employees
Nearly 100 companies currently operate in the sector in Morocco, employing around 10,000 people, mainly in component manufacturing, engineering and services, the firm observed. OBG notes that the number of companies established in Morocco should increase in the coming years in view of the growing global demand for aircraft components.
In this context, Oxford Business Group cites the example of the Bombardier group, which wishes to take advantage of the competitive labor and transport costs available in Morocco. The firm should launch a $200 million investment over the next eight years for the construction of a plant, creating 850 jobs.
Morocco hopes that other international companies will follow Bombardier's example, also attracted by the country's competitive advantages and its proximity to Europe. The arrival of new companies will allow Morocco to benefit from foreign expertise and technology transfers, which should contribute to the creation of 15,000 new jobs by 2015 and allow the Kingdom to increase its exports while strengthening its position in the global aerospace industry, the firm concludes.
With MAP
Aufaitmaroc.com
Published on November 25, 2012.
Posted online on December 3, 2012.
As part of the National Pact for Industrial Emergence, which aims to create 220,000 new jobs in the sector by 2015 and increase GDP by 50 billion dirhams, these efforts aim to increase Morocco's exports and diversify its production while creating jobs, OBG said.
Development projects in high value-added industrial sectors should receive a serious boost with the opening in mid-2013 of a new industrial park worth 500 million euros. This will be dedicated to companies in the aeronautics, defense and on-board electronic security sectors, the think tank added. It also recalled the significant foreign direct investment that the aeronautics sector has attracted in recent years, despite the global economic crisis and instability in the region.
10,000 employees
Nearly 100 companies currently operate in the sector in Morocco, employing around 10,000 people, mainly in component manufacturing, engineering and services, the firm observed. OBG notes that the number of companies established in Morocco should increase in the coming years in view of the growing global demand for aircraft components.
In this context, Oxford Business Group cites the example of the Bombardier group, which wishes to take advantage of the competitive labor and transport costs available in Morocco. The firm should launch a $200 million investment over the next eight years for the construction of a plant, creating 850 jobs.
Morocco hopes that other international companies will follow Bombardier's example, also attracted by the country's competitive advantages and its proximity to Europe. The arrival of new companies will allow Morocco to benefit from foreign expertise and technology transfers, which should contribute to the creation of 15,000 new jobs by 2015 and allow the Kingdom to increase its exports while strengthening its position in the global aerospace industry, the firm concludes.
With MAP
Aufaitmaroc.com
Published on November 25, 2012.
Posted online on December 3, 2012.
