Head of Government chairs the 5th session of the National Investment Commission

Rabat, Tuesday 04 June 2024

• Approval of 27 projects under the main framework of the new investment charter, totaling nearly 7.7 billion dirhams, enabling the creation of approximately 7,000 direct and indirect jobs;
• Approval of a project in the electric mobility sector, under the framework of strategic projects, amounting to 12.8 billion dirhams, creating 17,600 direct and indirect jobs;
• 19 provinces and prefectures involved across 7 regions of the Kingdom;
• 89% of the investments approved under the main framework are by Moroccan companies.

The Head of Government, Mr. Aziz Akhannouch, chaired the 5th National Investment Commission meeting on Tuesday, June 4, 2024, in Rabat, established by the new Investment Charter, which has been operational since March 2023, in line with the High Orientations of His Majesty King Mohammed VI, may God assist him.

The 5th National Investment Commission approved 22 project agreements and 5 amendments to agreements under the main framework established by the new investment charter. The 27 approved projects total nearly 7.7 billion dirhams, enabling the creation of approximately 7,000 jobs, including 5,300 direct and 1,700 indirect jobs.

The 5th Commission also approved an investment agreement for a strategic project in the electric mobility sector in the Rabat-Salé-Kénitra region, amounting to 12.8 billion dirhams, creating 17,600 direct and indirect jobs.

Regarding the main framework, 89% of the approved investment amount is by Moroccan companies. Additionally, 19 provinces and prefectures are involved in these projects, across 7 regions of the Kingdom.

The main sector involved is chemistry/parachemistry with 56% of the total approved amount, followed by tourism with 22%, the automotive sector with 7%, and construction materials with 6%. Other sectors involved include agribusiness 4%, and health, aquaculture, textiles, aeronautics, and biotechnologies with 1% each.

Furthermore, the automotive sector is the main provider of jobs for the projects approved under the main framework, accounting for 30% of the total, followed by tourism at 21% and textiles at 16%.

During the meeting, the Head of Government emphasized that "supporting private investment and job creation is a priority for the government, highlighting that all concerned actors remain mobilized to sustain the momentum initiated since the implementation of the new investment charter, in accordance with the High Royal Directives."

This 5th commission, the third to be held in 2024, confirms the dynamic of private investment in the Kingdom and demonstrates the positive impacts of the new Charter.

Participants in this meeting included Mr. Nizar Baraka, Minister of Equipment and Water; Ms. Fatima Zahra El Mansouri, Minister of National Territorial Planning, Urban Planning, Housing, and City Policy; Mr. Younes Sekkouri, Minister of Economic Inclusion, Small Business, Employment, and Skills; Mr. Ryad Mezzour, Minister of Industry and Trade; Ms. Fatima Zahra Ammor, Minister of Tourism, Handicrafts, Social Economy, and Solidarity; Mr. Abdellatif Miraoui, Minister of Higher Education, Scientific Research, and Innovation; Ms. Leila Benali, Minister of Energy Transition and Sustainable Development; Mr. Mohcine Jazouli, Minister Delegate to the Head of Government, in charge of Investment, Convergence, and Evaluation of Public Policies; Mr. Faouzi Lekjaa, Minister Delegate to the Minister of Economy and Finance, in charge of the Budget; and Mr. Ali Seddiki, Director General of the Moroccan Agency for Investment and Export Development (AMDIE).