Home Economy Morocco’s Automotive Industry Aims to Create 90,000 jobs by 2020: Financial Times

Morocco’s Automotive Industry Aims to Create 90,000 jobs by 2020: Financial Times

London - Morocco's automotive sector is aiming to create 90,000 jobs by 2020 in addition to the 100,000 that already exist, the British magazine "Financial Times" (FT) said.

Staff Writer

Mar 24, 2016

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London – Morocco’s automotive sector is aiming to create 90,000 jobs by 2020 in addition to the 100,000 that already exist, the British magazine “Financial Times” (FT) said.

With total automotive exports reaching €4.8bn in value last year, the sector is seen as one of Morocco’s “big success stories,” the paper pointed out in a special edition on Morocco, citing the success of Renault’s factory in northern Morocco, which is the largest car factory in Africa.

The plant produced 229,000 cars in 2015, up from export 174,000 the year before, FT pointed out, adding that the bulk of its output is destined for Spain, France and Germany.

“For Morocco, the benefits of Renault’s €1.6bn investment in the factory go far beyond the 7,100 jobs it has created,” the magazine underlined, adding that the plant has served as a catalyst for the government’s plans to develop an automotive sector that benefits from the country’s proximity to European markets and cheap labour costs.

The Renault plant, along with a range of tax and other incentives offered in Morocco’s free trade zones, has also attracted foreign makers of car parts, FT added, noting that some 150 automotive-related manufacturers are based in Morocco.

With MAP