4th National Investment Commission: Approval of 4 Project Agreements and an Amendment Amounting to a Total of 36.4 Billion Dirhams
Rabat, Thursday, February 8, 2024
- Approval of 4 project agreements and an amendment under the main framework of the new investment charter for a total amount of 36.4 billion dirhams.
- These projects will create 14,500 direct and indirect jobs ;
- Granting of "strategic status" to 5 new investment projects.
Prime Minister Aziz Akhannouch presided over the 4th meeting of the National Investment Commission on Thursday, February 8, 2024, in Rabat. This commission was established under the new investment charter that came into effect in March 2023, following the High Royal Directives.
The commission approved 4 project agreements and an amendment to an agreement within the main framework established by the new investment charter. The approved projects amount to a total of 36.4 billion dirhams, facilitating the creation of over 14,500 jobs, including 1,900 direct jobs and 12,600 indirect jobs.
Among the approved projects are two major investment projects by the OCP Group, which are part of the group's green investment program presented to His Majesty King Mohammed VI in December 2022.
The main sectors covered by the approved projects are chemicals/parachemicals and mining, representing 60% and 38% of the total approved amount, respectively. Other projects are in the automotive and higher education sectors.
The chemicals/parachemicals sector is the primary job provider among the approved projects at this commission meeting, creating over 9,600 direct and indirect jobs, or more than 67% of the total jobs. This is followed by the mining sector, accounting for 30%, and the automotive sector, accounting for 2.5%.
Additionally, the 4th National Investment Commission granted "strategic status" to 5 new projects in the sectors of electric mobility and the production of renewable energy equipment. These projects will be reviewed by a specialized technical committee before final approval by the National Investment Commission.
During the meeting, the Prime Minister reiterated the government's priority to support national investment and create job opportunities. He emphasized the government's commitment to supporting investments that primarily motivate national companies, directing investments towards priority sectors and future industries, reducing disparities between the regions and provinces of the Kingdom in terms of investment attraction, and striving to position Morocco as a continental and international hub for foreign direct investment.
The 4th commission meeting was attended by Nadia Fettah, Minister of Economy and Finance; Nizar Baraka, Minister of Equipment and Water; Mohamed Sadiki, Minister of Agriculture, Maritime Fisheries, Rural Development, and Forests; Younes Sekkouri, Minister of Economic Inclusion, Small Enterprises, Labor and Skills; Ryad Mezzour, Minister of Industry and Trade; Fatima Zahra Ammor, Minister of Tourism, Handicrafts, Social Economy, and Solidarity; Mohcine Jazouli, Minister Delegate to the Prime Minister in charge of Investment, Convergence, and Evaluation of Public Policies; and Ali Sadiki, Director General of the Moroccan Agency for Investment and Export Development.
