Rabat – The Moroccan government announced on Wednesday it will invest $1.1 Billion (MAD 10.8 billion) into 15 public and private sector projects, with the aim of stimulating the creation of 2,907 jobs in the country.
Morocco’s government made the announcement during a meeting of the Investment Commission in capital Rabat.
At the meeting, the ministerial commission looked over 17 potential investment projects before making its selection.
The ministerial commission allocated roughly MAD 5.7 billion to investment projects in the telecommunications sector, amounting to 53% of the overall budget. Industry came second with a total of MAD 3.2 billion worth of investment, according to a ministerial press release quoted by Morocco’s press agency (MAP).
The bulk of the investment went to public or semi-public projects, accounting for MAD 9.2 billion, the statement said.
Speaking on the sidelines of the meeting, Morocco’s head of government stressed the importance of boosting investment as the backbone of Morocco’s economic recovery and generating jobs.
A total of 13 ministers participated in the meeting chaired by Morocco’s head of government, Aziz Akhannouch.
The official statement reiterates the government’s commitment to implementing the necessary structural reforms to boost investment across all regions within the country.
During the meeting, Akhannouch underscored the importance of maintaining the efficiency of the Investment Commission by holding regular meetings.
Akhannouch further explained in the statement that the purpose of the meeting is not only to approve new investment projects but to equally assess the progress of investment projects approved during previous meetings.
The commission equally discussed a wide range of issues facing the implementation of previous investments.
Since the start of its mandate, the government has held five investment commission meetings, during which it made 46 investment ventures with a total budget of more than MAD 33.4 billion, generating 5,816 direct jobs and 8,475 indirect jobs.
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