Fez – Morocco’s Investment Commission has approved yesterday 13 development projects for a total budget of over MAD 2 billion ($216.45 million).
Mohcine Jazouli, Minister Delegate in charge of Investment, Convergence, and Evaluation of Public Policies, announced the approval following the meeting of the Investment Commission.
The head of Government, Aziz Akhannouch, chaired the meeting of the commission.
The commission now focuses on meeting the guidelines of the New Development Model (NMD), with Jazouli pointing out that the commission’s 81st meeting approved the projects in line with “royal instructions” to boost investment.
According to the delegate minister, these projects will strengthen employability in the country, generating a total of 5,000 employment opportunities, including 2,000 direct jobs.
The allocated budget of MAD 2 billion will be poured into both local investment and foreign investment in strategic sectors, including electronic chips for vehicles or pharmaceutics.
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Jazouli stressed the government’s determination to foster investment, announcing that the government will be holding weekly committees “until the conclusion of various projects by the end of the year.”
The government will also regularly review all investment files to “accelerate the various investments in Morocco,” added the delegate minister.
Morocco’s Special Commission for the Development Model (CSMD) presented the final version of the New Development Model to King Mohammed VI on May 25.
A statement from the Royal Office said back then that “the renovation of the development model constitutes a new stage in the consolidation of the social project.”
The new human-centered development model has been in the works for over a year, and it was first unveiled by King Mohammed VI in his 2019 Throne Day speech.
The new government now has a challenge of meeting various high-profile reforms in education, health, agriculture, investment, and taxation that are part of Morocco’s new development model.
