21 projects approved by Morocco's Investment Commission

The Moroccan Investment Commission has approved last Wednesday, May 24, a series of 21 projects worth 7.6 billion dollars, which incorporates an approval of four amendments to the existing measures in a meeting with the Investment Commission led by Prime Minister Aziz Akhannouch.

These projects are mainly part of the industrial sector with 70% of the total approved investments. In second place is the seawater desalination sector, with projects accounting for around 14% of the approved budget, followed by 4% for renewable energy projects.

This investment is expected to generate more than 5,700 job opportunities along with an additional 14,000 indirect jobs. Most of these jobs will be generated mainly by the industrial sector, with 73% of the total jobs generated.

Health and tourism together will contribute 8% of the projected new jobs.

On the other hand, the commission estimates that six projects have the potential to create 13,260 direct jobs and 33,150 indirect jobs. These projects, before being finally reviewed by the Moroccan Investment Commission, will first pass through the Technical Committee for Strategic Investment Projects (CTPIS) where they will be thoroughly reviewed and inspected.

The development of electric vehicles has also been attached to the approval of budgets by the commission, with the approval of four projects related to the development and manufacture of electric batteries. This commitment, along with the opening of 2,500 charging stations for electric vehicles to be completed in 2026, in cities such as Tangier, Rabat and Casablanca, are indicative of the Moroccan government's intentions to initiate the transition towards the use of carbon-free vehicles.

The Investment Commission is a government body tasked with examining and approving investment projects that exceed 200 million dirhams or are of significant calibre for the country's economic and social development.

The approval of these projects is intended to boost Morocco's local economy and strengthen the industrial and energy sector. Following the 2014-2020 industrial acceleration project, which was carried out by the Moroccan government, it has continued to invest in the industrial sector with the aim of increasing industrial production.