Morocco, Tech Company AVL Sign $8 Million Investment Protocol

Rabat – Morocco’s industry and trade ministry signed on Monday in Rabat a Memorandum of Understanding (MoU) with AVL Maroc, part of Austria-headquartered technology and mobility giant. The MoU would enable the company to boost its outsourcing activities in the North African country.

Under an investment of MAD 30 million ($8 million), the MoU is projected to allow the company to develop its engineering outsourcing activities as well as research and development (R&D) activities.

According to a statement reported in Morocco’s Press Agency (MAP), the MoU is expected to create 500 jobs in the R&D sector by 2027. In particular, the government expects the investment protocol to boost Morocco’s ESO ecosystem (outsourcing of engineering and research and development activities including industrial engineering).

The outsourcing activities are set to take place in several Moroccan cities, including the AVL Maroc’s headquarters in Rabat’s industrial zone.

The MoU was signed by the Minister of Industry and Trade, Ryad Mezzour, the Minister of Digital Transition and Administration Reform, Ghita Mezzour, the Minister of Investment, Convergence, and Evaluation of Public Policies, Mohcine Jazouli and the CEO of AVL Morocco & France, Jean-Marc Boulard.

Commenting on the signing of the MoU, Mezzour underscored the strategic importance of offshoring activities for the national economy as it helps create jobs and boost the value of the country’s exports.

“With this new investment, the sector confirms its attractiveness, which it owes in particular to the quality of its offer adapted to the needs of companies and support measures proposed [by Morocco’s government], particularly in terms of taxation, and support for investment and training,” Mezzour said.

“An important potential is offered to this sector which will be able to go up in range through the improvement of the competitiveness of the actors and the targeting of new fields with high added value,” he added.

For his part, Boulard said: “The MoU allows AVL Group to install jointly with the Ministry of Industry and Trade a long-term vision promoting advanced expertise in the mobility and energy sectors and to prepare the conditions for success.”