CRITTA evaluates its strategy to maximize its performance
During the session of the Board of Directors held on April 26 at the Wilaya headquarters, Younes Tazi, the Wali of the region praised the dynamism of the Regional Investment Center and the efforts deployed by the entire regional ecosystem to attract and support investments over the past few years.
The Council invited all stakeholders to intensify coordinated support to investors and project holders in order to maintain the attractiveness of the region and preserve entrepreneurship and employment in the long term.
As a result of the exchanges and discussions that took place during this session, the members of the Board of Directors unanimously approved all the resolutions presented. They also congratulated the Tangier-Tetouan-Al Hoceima LRC for its remarkable achievements and results, which reflect the new dynamics of the region.
Investment is job creation
The Director General of the CRI, Jalal Benhayoun clarified that, in 2023, the Unified Regional Investment Commission ruled on more than 972 investment acts; marking an increase of 21.5% compared to the same period of the previous year; of which, 73% were approved by the CRUI (709 acts).
The total amount of investment reached 73,400 MDH, with an increase of 41% compared to 2022. These projects, processed in an average of 4.9 days, will create about 70,000 jobs.
As for the volume of investment, it differs depending on each economic sector:
- Industry has a total of 28,160 MDH (i.e. 38.4%).
- Miscellaneous services with 16,260 MDH (i.e. 22%).
- Energy with 7,860 MDH (i.e. 11%), especially wind power.
In terms of job creation, the industrial sector is the largest contributor to job creation in the region, with more than 40,000 long-term stable jobs (68% of expected jobs), followed by construction and public works and tourism, with 14% each.
The region ranks 2nd nationally, with 13,849 new companies created by the end of 2023, representing around 15% of the total number of new companies registered nationally.
Training and support
Through the Manar Al Moustatmir virtual one-stop shop, CRITTA provided support to some 4,370 project holders under various programs, notably the Investangier Academy.
These are 4,370 project holders registered on the www.investangier.com platform who were supported and accompanied in the process of setting up their businesses. In this regard, the center organized more than 106 training sessions for more than 2,312 beneficiaries.
Investor survey: business climate and relationship with CRITTA
The Regional Investment Center launched a survey aimed at investors in the region to learn about their perception of the regional business climate and that of other public and private actors, as well as the quality of the relationship and level of satisfaction with the services provided by the CRI TTA.
The study covered a representative sample of 135 economic agents at the regional level, and had positive conclusions:
- 92% of the companies declared themselves satisfied with their establishment in the Tangier-Tetouan-Al Hoceima region.
- 82% of investors consider the current situation of their companies to be satisfactory, with optimistic growth prospects at all levels.
- All the companies and stakeholders maintain a close relationship with CRITTA and expressed their total satisfaction with this relationship.
- They highlighted the ease of establishing contact with the LRC teams and praised the efforts made to promote the region.
- About one-third of the companies use renewable energy and recycle waste.
- Ninety percent of these companies rigorously enforce labor law and employee safety standards.
- 88% plan to expand their investment in the region.
- 79% plan to invest further in the region.
- 53% are committed to expanding their business.
- 40% plan to launch new services or products.
- 51% have an import business.
- 74% are sourcing locally.
- 34% use renewable energies.
- 41% recycle waste.
It should be noted that the main reasons for these satisfactory results are: the quality of life, the strategic geographical location, the maturity of the regional investment ecosystem around the CRI, the new generation infrastructures and reception structures, the availability of skills and the competitive cost of production.