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Rabat – In the face of a challenging global economic landscape and the aftermath of a devastating earthquake on September 8, which claimed over 2960 lives, the Marrakech-Safi region has displayed remarkable resilience.
Not only has the region weathered the unprecedented storm of the devastating earthquake, but it has also witnessed an unprecedented surge in investments in recent weeks, reaching a staggering record of over MAD 119 billion ( ($12.1 billion USD) in 2023.
Despite the adversities, data from the Marrakech-Safi Regional Investment Center (CRI MS) reveals that over 500 projects were greenlit in 2023 by the Unified Regional Investment Commission (CRUI), marking a remarkable 110% growth in project numbers compared to the previous year.
These projects translate to an investment amount exceeding MAD 119 billion ($12.1 billion), reflecting a staggering 570% increase from the previous year, accompanied by a noteworthy 40% rise in job creation, accounting for over 24,000 new employment opportunities.
Mohamed Amine Sabibi, the Acting General Director of CRI MS, highlighted the energy and mining sector as the standout performer in 2023.
In recent comments to the Moroccan Press Agency (MAP), Sabibi underscored not only the sector’s prowess in extraction but also its commitment to the sustainable utilization of natural resources.
He emphasized the ambitious development program of the OCP Group, encompassing not only an increase in production capacity but also initiatives for sustainability. This includes the establishment of desalination plants and renewable energy production stations through a dedicated subsidiary focused on green activities.
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In addition, Sabibi detailed upcoming wind projects, such as the Maâchate wind farm in Safi, positioned to bolster renewable energy production, enhance the region’s competitiveness, and entice more industrial investments to Marrakech-Safi.
Highlighting the region’s attractiveness, Sabibi cited the announcement of the NEXANS Group’s industrial unit in Safi, with an investment exceeding 100 million dollars aimed at cable production for export.
Looking ahead to 2024, Sabibi expressed optimism about the region experiencing a “remarkable” investment activity.
Notable projects include the construction of solar plants in Benguérir, a comprehensive seawater desalination program, wastewater treatment initiatives in Safi and Essaouira, and the much-anticipated commencement of the construction of the Marrakech-Agadir railway line.
