Rabat – Morocco’s Marrakech-Safi region saw a total of MAD 6.5 billion ($626 Million) of new investments in the first six months of 2022, according to the Unified Regional Investment Commission (CRUI), a state organization in charge of boosting investments in the region.
The inflow of investments in the region grew at an annual rate of 23%, CRUI said in a statement, noting that the increased investment volume is a testament to the “economic recovery momentum” marking this year.
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With the increased flow of investment, the rate of job creation equally rose in the region by 55% year-on-year; approximately 6,624 jobs were created as of the end of June 2022.
Tourism made up 38% of the sectors benefiting from the state-sponsored program, followed by the industrial sector with 34%, amounting to MAD 1.64 billion ($158 million).
The industrial sector saw the creation of 2,681 jobs, the CRUI statement explained, noting: “These results reflect a proactive policy aiming to revitalize the region’s industrial landscape.”
In addition to stimulating investments into the region’s private sector, CRUI also allocated investments to Marrakech-Safi’s public sector, according to the statement.
“Supported by the Regional Council, CRUI launched technical studies for two flagship projects: the technology park Tamensourt and Agropoli,” the statement added.
The list of investments in the public sector also includes a wholesale market in the town of Sidi Bou Othmane, as well as two flagship projects for two industrial and logistics competitiveness clusters in Greater Marrakech.
By directing public capital toward private investments, Morocco hopes to create a comprehensive, diverse, and competitive industrial complex and boost the Marrakech-Safi region’s socio-economic prospects.
