FDI: a record level of MAD 13.1 billion at the end of April (Mr. Akhannouch)

Monday, June 10, 2024 at 9:48 p.m.

Rabat – Foreign direct investments (FDI), showing significant growth since the start of the year, reached 13.1 billion dirhams (billion dirhams), an “unprecedented record level for the Kingdom”, announced Monday in Rabat, the Head of Government, Aziz Akhannouch.

In response to a central question during the session devoted to monthly questions in the House of Representatives under the theme “Stimulating investment and employment dynamics”, Mr. Akhannouch affirmed that this progress is one of the results direct from the profound reforms put in place by the government, “aimed at strengthening Morocco’s position on a global scale and making it a leading destination for international investments”.

In this context, Mr. Akhannouch underlined that the government, in execution of the High Royal Instructions, strives to outline the contours of Moroccan leadership in the sectors of the future, in particular by supporting the global energy transition and accelerating the implementation implementation of the “Moroccan offer” for green hydrogen, through the mobilization of the necessary land and high-quality infrastructure as well as technical and human expertise, in line with the needs of investors to make the Kingdom a player competitive in this promising sector.

He further indicated that the dynamic of investments was also manifested by the attraction of several strategic projects, the most recent of which was the signing, last week, of an agreement for the creation of a unit integrated industrial production of batteries for electric vehicles.

Thus, Mr. Akhannouch noted that this unique initiative of its kind in the Middle East and Africa region, with a total investment cost of 12.8 billion dirhams, will create 17,000 direct and indirect jobs, including 2,300 highly qualified jobs.

In the same vein, the Head of Government explained that the second half of the mandate “will be conducive to intensifying sectoral efforts and exploiting the opportunities available to Morocco, aiming for an integrated societal project bringing together all the conditions for success” , noting that the government has spared no effort to meet the needs of the labor market and improve the standard of living of Moroccan families, so that they can meet the demands of life and overcome its challenges.

The problem of employment in all its social and institutional dimensions “will occupy a central place during the rest of the mandate of this government”, he raised, noting that the progress made in the area of ​​employment promotion in Morocco over the past two years have temporarily contributed to mitigating the impact of the Covid-19 crisis and drought.

Among the achievements made in this regard, Mr. Akhannouch mentioned the creation of 620,000 positions, absorbing the unemployment rates resulting from the health crisis and the complex economic challenges that followed, stressing that “governmental management of employment issues for young people and increasing their participation in the labor market has never been a minor issue, but has been given the place it deserves, which is that of the ultimate objective of all public programs and interventions ”.