Rabat – The Fnideq Economic Activities Zone (ZAEF) opened its doors for businesses officially last Saturday.
Located in Northern Morocco, the business hub welcomed last week a first cohort of 53 business owners. In June 2021, local authorities launched a call for businesses looking to conduct commercial operations within the zone.
The ZAEF is expected to generate thousands of direct and indirect jobs, in addition to boosting the region’s profile as a tourist destination.
Located 20 kilometers from Morocco’s crown jewel Tangier Med port, the commercial zone boasts world-grade infrastructure.
The zone is part of Morocco’s large-scale vision to develop the Tetouan region including the M’diq-Frideq province.
The zone is the fruit of the 2020 collaboration between a wide range of stakeholders, including Morocco’s interior ministry and economy and finance ministry.
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Covering an area of 10 hectares with a budget of MAD 200 million, the infrastructure project comprises 76 warehouses among other facilities.
Through the project, Morocco aims to stimulate regional socio-economic development.
In 2021, Tangier Med Zones (TMZ), a subsidiary of the Tangier Med group, announced plans to construct a commercial area in Northern Morocco.
Shortly after announcing the plans, Swedish furniture giant, IKEA, landmarked the zone for expansion projects in the region, stating that its store will open in summer 2022.
The project is expected to attract a wide range of international brands seeking to expand in the region.
Aiming to boost local tourism, the project also includes plans for leisure facilities including playgrounds.
As part of its strategy to support tourism in northern regions, Morocco has invested MAD 110 million ($ 11.7 million) in a renovation project extending to the Tetouan airport.
Read Also: Morocco to Renovate Tetouan Airport
