Rabat - Seventeen agreements on investment projects totaling MAD 2.4 billion were signed in Rabat Thursday, in connection with the implementation of industrial ecosystems launched in the automotive and aeronautical sectors.
Rabat – Seventeen agreements on investment projects totaling MAD 2.4 billion were signed in Rabat Thursday, in connection with the implementation of industrial ecosystems launched in the automotive and aeronautical sectors.
The Industrial Acceleration Plan is attracting new investors. These investment agreements, which are expected to generate a turnover of MAD 7.62 billion and 14,230 direct jobs, were signed by the Minister of Industry, Investment, Trade and the Digital Economy, Moulay Hafid Elalamy, and by the managers of the companies involved in these projects, 14 of which are in the automotive sector and three in the aeronautics industry.
At the signing, Elalamy said that “through these investments, new specializations and techniques, such as cataphoresis or casting, will be introduced in Morocco and are likely to strengthen local integration and densify the productive fabric.”
The minister stressed that these various projects “testify to the growing interest perceived by the national operators for the emerging industrial sectors. More people want to invest in it.”
Through these agreements, world automotive pioneers are setting up in Morocco, like the Chinese Xiezhong which will manufacture air conditioning systems and Electroplast. Already present in Morocco, Lear Corporation Automotive will develop new technologies in embedded electronics, while the German Knauf and Spanish Hispamoldes will operate in plastic injection, a new domain for the Kingdom.
The other projects launched in the automotive industry concern fast-growing sectors such as tempered glazing, metallic structures, or even hydraulic subassemblies.
On the aeronautical front, Figeac Aero is establishing itself for the first time in Morocco and will specialize in the machining and assembly of aeronautical parts and surface treatment to serve Airbus and Bombardier. With an investment amount of nearly MAD 289 million, this project will create a total of 535 jobs.
The other two aeronautic companies, ADF Technologie Morocco and Tecaero Maroc, will be involved in the design and manufacture of tools and pipelines.
In 2016, the number of jobs generated by the automotive sector amounted to nearly 150,000 jobs, an increase of about 80 percent compared to 2014. The turnover generated grew from MAD 40 billion to 60 billion during the same period, recording a 50 percent increase.
As for the performance of the aeronautics sector, the turnover of the sector amounted to MAD 9.2 billion in 2016, rising by 12.5 percent compared to 2015. The workforce employed by the sector experienced for its part, an increase of 19 percent, between 2014 and 2016, rising from 12,600 to 15,000 employees.