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King Mohammed VI Inaugurates Aquaculture Farm in Oued Ed-dahab

Dakhla, Morocco - King Mohammed VI inaugurated, Tuesday in the El Argoub municipality (southern province of Oued Ed-dahab), the "Azura Aquaculture" farm. This aquaculture project, which required an overall budget of MAD 81 million, is part of the national Halieutis strategy, developed in accordance with the guidelines of King Mohammed VI and aimed at upgrading the different stages of the value chain of the ...

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As Algeria Struggles With Oil Prices, Morocco Launches Mega Economic Projects

By Zainab Calcuttawala Rabat - As Algeria’s economy struggles with the consequences of falling oil prices, Morocco’s energy and transportation projects serve as a model for economic diversification and infrastructural development in the region. At the end of last year, Algeria’s Central Bank projected that the declining oil prices will cause 2015 revenues from oil to halve compared to revenues from 2014 as ...

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Morocco’s Unemployment Rate Drops to 9.7% in 2015

Rabat - Morocco’s unemployment rate slightly dropped from 9.9 percent in 2014 to 9.7 percent in 2015, according to the High Commissioner for Planning (HCP). The unemployed labor force decreased by 1.6 percent from 1,167,000 unemployed in 2014 to 1,148,000 in 2015, HCP pointed out, adding that the overall rate of unemployment decreased by 19,000 people at the national level. The same source noted that the un ...

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Abu Dhabi-Based Company Aims to Invest in Morocco’s Renewable Energy

By Jonathan Walsh Rabat - Abu Dhabi based energy company Masdar has announced plans to invest in renewable energy projects in Morocco. In a recent interview with Gulf News, CEO Dr. Ahmad Belhoul revealed his company’s intentions to look into investment opportunities in Morocco, Egypt, and Jordan, among others. He stated that a projected increase in demand for renewable energies was the key to this decision. ...

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Qatar Petroleum Expands its Oil and Gas Assets Base in Morocco

Rabat - Qatar Petroleum has inked an agreement with Chevron to acquire 30 percent of its stake in three deep-water offshore exploration leases, offshore Morocco, the Qatari state-owned Oil Company announced on Monday. The leases are Cap Rhir Deep, Cap Cantin Deep and Cap Walidia Deep, according to a statement by Qatar Petroleum. Located between 100-200km west and northwest of Agadir city, the leases cover a ...

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Rachida Dati: “Morocco Has Become the Most Innovative Industrial Power in Africa”

Fez - Member of the European Parliament (MEP), Rachida Dati applauded Morocco’s recent efforts in the area of energy sustainability in a recent statement to the press. “To begin work in the first phase of the largest solar power plant in the world, Morocco has become the most innovative industrial strength in the African continent,” Dati said. The former French Justice Minister continued, "This project will ...

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Moroccan Economy Created Just 33,000 New Jobs Between 2014 and 2015

Rabat - Despite the efforts made by the Moroccan government in recent years to offer more employment opportunities to young Moroccans, it fell short of achieving its goals. Between the years 2014 and 2015, the Moroccan economy created 33,000 employment positions, according to a briefing note from the Haut Commissariat au Plan (HCP). According to the same source, 29,000 jobs were created in urban areas and 4 ...

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Moroccans Top the List of New Foreign Investors in the Netherlands

Rabat - A new study published recently in the Netherlands shows that Moroccans top the list of new foreign investors in the Netherlands. Nearly 23,000 new companies were created in the Netherlands in 2014 by foreign entrepreneurs, mostly Moroccan-Dutch and Turkish-Dutch binationals. This study was released by the Netherlands’s Office of Statistics (CBS) on Friday, according to Maghreb Arab Press (MAP). The ...

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European Union Supports Morocco’s ‘Visionary’ Solar Plan

Rabat – The European Union expressed its support to Morocco's "visionary" solar plan whose first phase was inaugurated Thursday by King Mohammed VI. In a statement, the EU delegation in Rabat hailed the official commissioning of the first plant of the Noor-Ouarzazate solar complex (Noor I), and the official launch of the construction works of the second and third plants of this megaproject (Noor II and Noor ...

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Solar Energy: Morocco Set an Example to Other Countries, Says French Minister

Ouarzazate - Morocco enjoys a "global visibility" that will allow it to reduce its energy dependence and set an example to other countries, French Minister of Ecology, Sustainable Development and Energy, Segolene Royal said Thursday in Ouarzazate. "Based on this kind of projects, we will manage to fulfill our obligations in the fight against global warming", Royal told the press on the sidelines of her pres ...

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Morocco Approves Over $517 Million MCC Compact

Rabat – The Moroccan cabinet on Wednesday approved the $ 517.5 Millennium Challenge Corporation (MCC) compact, reached by Moroccan and American governments last November. After the success of the first MCC compact, Morocco and the USA signed the Compact II where the US government has committed to grant $ 450 million and the Moroccan government to contribute with at least $ 67.5 million, Government Spokesman ...

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King Mohammed VI Inaugurates World’s Largest Concentrated Solar Plant

Ouarzazate- King Mohammed VI chaired, on Thursday in the Ghessate municipality (Southern province of Ouarzazate), the inauguration of the first plant of the Noor-Ouarzazate solar complex (Noor I), and the official launch of the construction works of the second and third plants of this megaproject Noor II and III. When fully operational, the plant will produce enough energy for more than one million Moroccan ...

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