Second session of National Investment Committee: Ratification of 19 agreements and annexes for investment projects worth up to MAD 31.5 billion
Rabat, Thursday, July 20, 2023
- Ratification of 19 agreements and annexes for investment projects worth up to MAD 31.5 billion, which will create 21,022 direct and indirect jobs.
- 15 agreements and annexes under the basic subsidy system with an investment value of up to MAD 2 billion will create 5,975 direct jobs and 4,276 indirect jobs.
- 4 projects under the special support system applied to investment projects of a strategic nature with an investment value of 29.5 billion dirhams, which will enable the creation of 5,767 direct jobs and 5,004 indirect jobs.
- Strategizing 4 investment projects worth MAD 113.8 billion that are expected to create 15,720 direct jobs and 99,000 indirect jobs after final approval.
The Head of Government, Mr. Aziz Akhannouch, chaired, on Thursday, July 20, 2023, in Rabat, the second session of the National Investment Commission, which was established under the new investment charter, where it examined 17 draft agreements and two (2) annexes. The 19 projects proposed by the private sector, fall within the framework of either the basic support system (15 agreements and annexes), or within the framework of the special support system applied to investment projects of a strategic nature (4 projects), with a total value of 31.5 billion dirhams, were approved, as these projects will enable the creation of 11,742 direct jobs and 9,280 indirect jobs. The convening of the second session of the National Investment Committee reflects the exceptional results at the level of investments, following the adoption of the new investment charter, in line with the high directives of His Majesty King Mohammed VI, may God assist him, as well as the dynamic development of private investment in the Kingdom. The electric mobility sector leads the approved investment projects, with a value of MAD 22.5 billion, representing 71% of the total investments approved by the committee, followed by the metals sector with 13%, and the automotive sector with 10% of the total investments. In terms of job creation, electric mobility is the key sector in terms of the number of jobs created. The projects allocated to the sector will contribute to the creation of 4,458 direct jobs, representing more than 38% of the total number of jobs expected to be created, while projects programmed in the aquaculture, food industry, and automotive sectors will contribute respectively by 17%, 11%, and 9%. On the other hand, in order to activate the new powers of the National Investment Committee, and in application of the provisions of the decree related to the activation of the basic investment support system applied to investment projects of a strategic nature, the Committee examined and granted the strategic character to 4 investment projects worth 113.8 billion dirhams, which are expected to enable the creation of 15,720 direct jobs and 99,000 indirect positions, where these projects will be studied by the Technical Committee in charge of investment projects of a strategic nature, before their final approval by the National Committee. for investments.
At the sectoral level, the four projects (4) that have been strategized are of interest to the field of electric vehicles, especially batteries.
During this meeting, the Head of Government, Mr. Aziz Akhannouch, pointed out that the convening of the second session of the National Investment Committee, less than two months after the first session, comes in the context of the great momentum that the Kingdom is witnessing in terms of developing investments and consolidating the attractiveness of the national economy, in order to activate the High Royal Directives, and to continue implementing the government's policy in this field.
The Head of Government added that the approved projects are in line with the country's general orientations in terms of developing energy efficiency and encouraging sustainable transport, noting that the government is working to strengthen the Kingdom's position at the level of economy and renewable energies.
The meeting was attended by Mr. Mohamed El Hajoui, Secretary General of the Government, Mr. Nizar Baraka, Minister of Equipment and Water, Ms. Fatima Ezzahra El Mansouri, Minister of National Territory and Urban Planning, Housing, and City Policy, Mr. Mohamed Sadiki, Minister of Agriculture, Fisheries, Rural Development, Water and Forests, Mr. Younes Sekkouri, Minister of Economic Inclusion, Small Business, Employment and Competencies, Mr. Ryad Mezzour, Minister of Industry and Trade, Ms. Fatim- Zahra Ammor, Minister of Tourism, Handicrafts and Social and Solidarity Economy, and Mr. Abdellatif Miraoui, Minister of Higher Education, Scientific Research and Innovation, Mr. Mohamed Abdeljalil, Minister of Transport and Logistics, Mr. Mohamed Mehdi Bensaid, Minister of Youth, Culture and Communication, Mr. Mohcine Jazouli, Minister Delegate to the Head of Government, in charge of Investment, Convergence and Evaluation of Public Policies, Mr. Fouzi Lekjaa, Minister Delegate to the Minister of Economy and Finance, in charge of the budget, Ms. Ghita Mezzour, Minister Delegate to the Head of Government in charge of Digital Transition and Administration Reform, and Mr. Ali Seddiqui, Director General of the Moroccan Agency for Development Investments and exports.
