Industrial Jobs Boost Moroccan Economy
4 March 2013
Read by 1551 persons
Text: Morocco's industrial sector could give the country the economic boost it needs.
The prospects for the Moroccan industrial sector are promising, business leaders meeting in Tangier acknowledged.
Morocco is on the right track in this sector, particularly in global trades, said Abdelkader Amara, Minister of Trade and Industry, on February 20, during the National Pact for Industrial Emergence.
Offshoring, automotive, aeronautics, electronics, textiles and agri-food have created some 100,000 jobs since 2009, Amara explained.
"The national industrial sector made significant progress in 2012 despite the global economic crisis," the minister noted.
Investors are urged to seize the opportunities offered by free trade agreements concluded with the European Union and the United States, to support the development dynamic currently experienced by Morocco, according to the Minister of Economy and Finance, Nizar Baraka.
International partnership is important to achieve the objectives, says economist Samira Cherrafi.
Morocco is aware of this and has recently held numerous high-level meetings with several countries to stimulate economic cooperation, she adds.
"According to official figures, the year 2012 saw a flow of industrial foreign direct investment of nearly 8 billion dirhams (€718 million). This is a good performance in this context," she explains.
She also recommends rapid economic integration of the entire Maghreb to strengthen the complementarity of industry in the region and thus attract added value and employment for young people.
The latter need training adapted to the needs of the job market, she continues, adding that all stakeholders must be involved in the industrial recovery.
The president of the General Confederation of Moroccan Enterprises, Meriem Bensalleh Cheqroun, called for the commitment of public and private stakeholders to succeed together in one of the greatest economic challenges facing Morocco: "To position itself as an industrial nation capable of playing a role on the regional and global economic scene."
Nevertheless, she emphasized the issue of land availability and the recurring problem of improving the business climate.
For its part, the banking sector has expressed its willingness to support the national industry. A commitment was made by the president of the Professional Grouping of Banks of Morocco, Othman Benjelloun.
According to official figures, the banking sector contributed to financing the Moroccan economy to the tune of 720 billion dirhams (€64 billion), representing an average growth of 8.2 percent from 2010 to 2012.
"Banking institutions view the future of the national economy and the African continent with confidence and optimism. The banking sector is mobilized to accelerate the implementation of the actions undertaken and to identify new growth niches for new job markets," Benjelloun said.
This content was produced at the request of Magharebia.com
Siham Ali.
Magharebia.com
Published February 27, 2013.
Posted online March 4, 2013.
The prospects for the Moroccan industrial sector are promising, business leaders meeting in Tangier acknowledged.
Morocco is on the right track in this sector, particularly in global trades, said Abdelkader Amara, Minister of Trade and Industry, on February 20, during the National Pact for Industrial Emergence.
Offshoring, automotive, aeronautics, electronics, textiles and agri-food have created some 100,000 jobs since 2009, Amara explained.
"The national industrial sector made significant progress in 2012 despite the global economic crisis," the minister noted.
Investors are urged to seize the opportunities offered by free trade agreements concluded with the European Union and the United States, to support the development dynamic currently experienced by Morocco, according to the Minister of Economy and Finance, Nizar Baraka.
International partnership is important to achieve the objectives, says economist Samira Cherrafi.
Morocco is aware of this and has recently held numerous high-level meetings with several countries to stimulate economic cooperation, she adds.
"According to official figures, the year 2012 saw a flow of industrial foreign direct investment of nearly 8 billion dirhams (€718 million). This is a good performance in this context," she explains.
She also recommends rapid economic integration of the entire Maghreb to strengthen the complementarity of industry in the region and thus attract added value and employment for young people.
The latter need training adapted to the needs of the job market, she continues, adding that all stakeholders must be involved in the industrial recovery.
The president of the General Confederation of Moroccan Enterprises, Meriem Bensalleh Cheqroun, called for the commitment of public and private stakeholders to succeed together in one of the greatest economic challenges facing Morocco: "To position itself as an industrial nation capable of playing a role on the regional and global economic scene."
Nevertheless, she emphasized the issue of land availability and the recurring problem of improving the business climate.
For its part, the banking sector has expressed its willingness to support the national industry. A commitment was made by the president of the Professional Grouping of Banks of Morocco, Othman Benjelloun.
According to official figures, the banking sector contributed to financing the Moroccan economy to the tune of 720 billion dirhams (€64 billion), representing an average growth of 8.2 percent from 2010 to 2012.
"Banking institutions view the future of the national economy and the African continent with confidence and optimism. The banking sector is mobilized to accelerate the implementation of the actions undertaken and to identify new growth niches for new job markets," Benjelloun said.
This content was produced at the request of Magharebia.com
Siham Ali.
Magharebia.com
Published February 27, 2013.
Posted online March 4, 2013.
