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Join on Telegram Rabat – Morocco and the German group Leoni have signed two collaborations as part of their commitment to boosting the Moroccan automotive sector.
The projects seek to push for the implementation of Leoni’s investment projects with an investment exceeding MAD 932 million ($91.33 Million).
Aiming to create 7,100 new jobs by 2027, the projects include the construction of a new cabling unit in the industrial acceleration zone in Agadir for an investment of MAD 188 million ($18.42 million). The projects also seek to create 3,000 direct jobs and the extension of the group’s factories in the Casablanca-Settat region.
During the signing ceremony, Morocco’s Ministry of Industry as well as the Delegate Ministry for Investment signed a Memorandum of Understanding (MoU) with Leoni to create a unit that manufactures electrical wiring at the industrial zone of Agadir.
The German group signed the second MoU with representatives of the Souss-Massa Regional Council. The agreement concerns support for investment and employment within the group’s future industrial unit in Agadir.
Meanwhile, the third framework agreement was signed between Leoni and the National Agency for the Promotion of Employment and Skills (ANAPEC), and it aims to meet the Germans’ needs for skilled labor which will reach 5,000 people in 2026.
Emphasizing the importance of the partnership, Head of Government Aziz Akhannouch recalled King Mohammed VI’s vision for promoting the industrial sector as a main pillar for the country’s economy.
He also pledged the government’s support for the industrial sector, stressing its contribution to employment.
“The development of the projects related to the automotive industry in the Souss-Massa region is likely to establish the region as an economic pole capable of creating job opportunities and a competitive platform for national and foreign investments,” he said.
Morocco’s automotive sector is part of the key pillars of the country’s economy. The North African country hosts a group of world-class automobile manufacturing companies, and many experts expect the Moroccan automotive industry’s production capacity to exceed one million by 2030.
Moroccan-produced vehicles are exported to many countries, particularly the EU.
Data published in April showed that Morocco’s automotive exports reached $3.4 billion in the first three months of 2023.
Most recently, the country has signaled its determination to establish a full-fledged industry of “made in Morocco” vehicles.
Earlier this month, Morocco unveiled Neo Motors, the first Moroccan car brand and hydrogen-powered vehicle prototype.
