Washington - Morocco has been, for the past ten years, developing an ambitious aeronautics industry worth nearly a billion dollars, Forbes Magazine wrote Friday.
Washington – Morocco has been, for the past ten years, developing an ambitious aeronautics industry worth nearly a billion dollars, Forbes Magazine wrote Friday.
“Throughout this period, some key world players such as Boeing BA +1.33pc, French company Safran and Canadian manufacturer Bombardier, made substantial investments in building increasingly sophisticated factories”, Abdemalek Alaoui writes, adding that over the last months, the pace of foreign investment in aeronautics even seemed to accelerate.
During the Farnborough air show in London, two new major investments totaling 45 million euros (USê61 million) were announced by the Moroccan government with Aerolia a subsidiary of Airbus group- and Alcoa, a world leader in aluminum production, notes the US paper on its website.
With these new investments, Morocco hopes to give a strong signal to the Market that it is ready to become a global aeronautics player, attracting spare-parts manufacturers as well as services providers in this field, it says.
Abdemalek Alaoui underlines that a combination of conjectural and structural changes allowed Morocco to become an increasingly credible player in the aeronautics sector, which employs some 10,000 people and accounts now for 5 pc of Morocco’s exports.