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Rabat – King Mohammed VI has ordered the opening of “Souk Assalihine,” a new community market in Salé that aims to boost local economic activity.
The large-scale project, whose construction began in 2017, required an investment of more than MAD 361 million ($34.6 million) and intends to further promote the socio-economic conditions of thousands of the city’s inhabitants.
Built over an area of 23 hectares, the new modern commercial complex features 1,070 premises (properties), 413 shops, and several other facilities, including parking lots and green spaces, among others.
The old traditional souk, which has transformed into a new market, serves as an innovative model of the governance of public policies within the informal sector.
Traders and professionals have benefited from their integration into the market, which has provided them with new opportunities to earn their living.
Professionals are also set to benefit from the basic compulsory health insurance as well as the “Intelaka” program that facilitates their access to the funds necessary for the acquisition of equipment.
Launched in January 2020, the financing program focuses on introducing several mechanisms implemented by banks in order to encourage entrepreneurship.
The program also includes a fund under the 2020 Appropriation Bill that includes a budget of MAD 6 billion ($575 million) to finance enterprises. The budget, which spans over three years, is financed equally by the government and the banking sector.
The “Souk Assalihine” project was carried out using a proactive and global approach based on innovative financing mechanisms.
The Ministry of Habous and Islamic Affairs contributed MAD 301 million ($28.8 million) to implement the modern market, while the Council of the Rabat-Salé-Kenitra Region invested MAD 30 million ($2.8 million). The prefecture of Salé also added MAD 10 million ($958.643), while the Commune of Salé and the delegating authority contributed MAD 20 million ($1.9 million).
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