Morocco Signs Investment Deal with Chinese Textile Giant Sunrise Group

Rabat – Morocco has signed a major investment agreement with the Chinese textile company Sunrise Group, a global leader in the industry. 

The deal, signed in Rabat today, aims to strengthen Morocco’s textile sector and boost its competitiveness in line with the vision of King Mohammed VI, according to a statement from the government.

The investment, worth MAD 2.3 billion, will establish two industrial units in Skhirat and Fez. These facilities are set to create 7,000 direct jobs and over 1,500 indirect jobs. 

The project will also help build an integrated supply chain, which would enable Moroccan companies to produce fabrics and garments locally, reduce logistics costs, and improve efficiency.

The new investment is expected to enhance Morocco’s role in global textile supply chains. The statement noted that by producing textiles locally, Moroccan businesses can fulfill international orders without intermediaries. This is set to boost their competitiveness and open doors to new markets. 

The government said that the initiative aligns with Morocco’s broader strategy to develop its industrial sector and strengthen its position as a regional leader in textile manufacturing.

During the signing ceremony, Head of Government Aziz Akhannouch said that this agreement reflects the strong diplomatic and economic ties between Morocco and China, nurtured by King Mohammed VI and Chinese President Xi Jinping. 

He added that the project reflects international investors’ confidence in Morocco’s economy. The large-scale project will create 8,500 jobs and aligns with the government’s commitment to boosting employment and industrial growth, Akhannouch said.

The agreement with Sunrise follows a series of discussions between the Moroccan government and Sunrise Group, including a meeting between Akhannouch and Sunrise Group Chairman Li Xu in Shanghai in September 2024. The Chinese company operates in multiple Asian countries and sees Morocco as a strategic hub for expansion.

The signing ceremony was attended by several high-ranking Moroccan officials, including Minister of Interior Abdelouafi Laftit, Minister of Economy and Finance Nadia Fettah, Minister of Equipment and Water Nizar Baraka, and Minister of Trade and Industry Ryad Mezzour, among others.