The Board of Directors of the Regional Investment Centre of the Tangier-Tetouan-Al Hoceima region met on Wednesday 29 November 2023 under the chairmanship of the Wali of the Tangier-Tetouan-Al Hoceima region, Mr. Younes Tazi.
At the opening of the meeting, the Wali of the Tangiers-Tetouan-Al Hoceima Region explained the background to the meeting and its agenda. He also recalled the High Royal Instructions on investment, and underlined the essential role of the CRI in economic revitalisation, the promotion of productive investment and job creation, paying particular attention to the concerns of investors and economic actors, while offering them a coordinated, personalised and optimised service and support.
In this regard, he called on the various players in the ecosystem at regional and central level to continue to unite their efforts around the CRI, the administration's main showcase for investors and project holders, in order to better integrate the entire investment value chain and, consequently, to carry out their missions in the best possible conditions in accordance with the High Royalty's orientations pronounced in the sovereign's speech on the occasion of the opening of the first session of the second legislative year of the 11th Legislature.
During the meeting, the director general of the CRI TTA presented a progress report on the achievements of the CRI, marked by a clear increase in the number of applications examined during the first nine months of this year by the Unified Regional Investment Commission (CRUI), testimony to the strong economic dynamism and attractiveness of the region over the past two decades.
By the end of October 2023, the Unified Regional Investment Commission had resolved more than 749 investment requests, an increase of 62% compared to the same period last year. Of these, 69% had been approved by the CRUI (517 projects), for a total investment amount of Dh39.37 billion, an increase of 60% compared to the first 9 months of 2022. These projects, approved within an average of 5 days, will ultimately create around 72,000 jobs.
In addition, since the entry into force of the new investment charter, CRUI has approved 40 investment agreement projects with the State for a total of 9 billion dirhams, creating around 9,200 jobs.
The first 9 months have also been marked by the support provided to some 4,600 project holders under various programmes, in particular the "Investangier Academy" programme through the unique virtual support centre Manar Al Moustatmir.
These results are the culmination of the support and collective intelligence efforts of the various players in the investment ecosystem and their involvement with the CRI, under the leadership of the Wali of the region, during all phases relating to prospecting, preparation and evaluation of applications, their authorisation and post-approval follow-up.
The same dynamic was observed in the creation of companies, where the region ranks 2nd nationally, with 10,095 new companies created by the end of September 2023, i.e. more than 14.5% of the creations registered nationally.
At this meeting, the Board of Directors approved the LRC's action plan for 2024, which is based on four major strategic axes perfectly aligned with the national strategy for the development of private investment:
- Strengthening and consolidating the internal governance of the CRI.
- Complete end-to-end integration of the entire investment value chain, with an emphasis on a local client-centric approach across the region.
- Continue to digitise the CRI's service offering.
- Boost the economy and promote the region's range of productive investment opportunities nationally and internationally.
At the end of the meeting, the Board of Directors unanimously approved the interim budget for 2024 and all resolutions on the agenda.
Facts and figures:
- 749 cases investigated by CRUI
- 69% of cases approved
- 174 meetings of the CRUI (Unified Regional Investment Commission)
- 517 projects approved
- 39.35 billion dirhams
- 71,640 secure jobs planned for the future
- 2nd region in business start-ups with 14.6% of the national total as of 30 September 2023
- 10,095 new start-ups
- 3,491 projects financed for a total of 836 million dirhams under the PIAFE since the launch of the programme until 31 August 2023, according to BAM.
- 4,600 companies/project managers supported
- 89 training sessions
- More than 1,750 beneficiaries