The Regional Investment Centre of Tangier-Tetouan-Al Hoceima celebrates the achievements of 2023
The Tangier-Tetouan-Al Hoceima region has experienced, in the past year, a remarkable investment dynamic thanks to the favourable business climate; this reaffirms the vigour and maturity of the investment ecosystem in Tangier, Tetouan and Al Hoceima.
- Job-creating investments
- Sector highlights and funding
- Approved projects and support
- Territory Development Challenge 2023
- Doing Business at the service of the region
The Regional Investment Centre of Tangier-Tetouan-Al Hoceima (CRITTA) carried out 972 acts, throughout the previous year, of which 709 were approved, i.e. 73% of the acts examined with a growth of 131% compared to 2021.
In terms of the instruction period, the Regional Investment Centre managed to reduce it to the maximum by 10.4 days in 2021, 8.8 days in 2022 to reach 4.9 days as the optimal duration of treatment of the Unified Regional Investment Commission, which held more than 230 meetings during the year. Thanks to its intervention as mediator, the Investment Centre successfully resolved 148 conciliation cases.
Job-creating investments
The evolution of the investment amounts approved in the last three years shows a significant growth; so that CRITTA recorded in 2021 about 3.6 billion euros rising to 5.2 billion euros in 2022 to reach 7.34 billion euros in 2023, a record figure in the history of investments in the region.
As far as jobs are concerned, the number of jobs expected to be created by the approved investment projects has been increasing since 2021, when 37,500 jobs were created. With a growth rate of 20.6%, the number of jobs increased from 58,000 to 70,000 projected stable jobs.
Sector highlights and funding
According to statistics from the Regional Investment Centre, Tangiers-Tetouan-Al Hoceima is the second region in terms of company creation, representing 14.7% of the national total. There are 12,715 new companies created in 2023, of which 44% work in the trade sector, 17.3% in various services, 12% in construction and real estate activities, 9% in transport, 8.3% in industry, 4.8% in hotels and restaurants and 3.8% in other activities.
In the framework of the Integrated Business Support and Financing Programme (PIAFE), from its launch until 30 November 2023, a total of 4,351 files were financed for an amount of 96.5 billion euros, according to Tamwilcom.
Approved projects and support
In 2023, the Tangier CRI accompanied 4,370 companies and project holders, and organised more than 106 training sessions for more than 2,312 beneficiaries.
In parallel, the Investment Centre approved 44 investment agreement projects during the previous year, with an investment amount of 1.8 billion euros spread across different sectors such as tourism (54.8%), industry (37.7%), agri-food (3.3%), various sectors (4.2%).
These 44 projects focus on vital sectors for the region with 56% focused on the industrial sector, 20.5% on tourism, 13.75% on the agri-food sector and the remaining 9% divided between various sectors.
Among the major achievements of the region for 2023, the commissioning of the first private solar park on a national scale with an area of 70 hectares and an installed capacity of 30 MW (in the first tranche) stands out.
Territory Development Challenge 2023
After a successful first edition, the Regional Investment Centre launched the second edition of the Territory Development Challenge 2023. A call addressed to all entrepreneurs in the world who want to invest in the region of Tangier-Tetouan-Al Hoceima. The deadline for submitting project ideas is 29 February 2024.
There are six challenges in this competition, namely: the blue economy, the green economy, industry and logistics, support for territorial animation and public spaces, the sports industry and ecotourism.
The winners of the competition will receive three major prizes (the first of 15,000 euros, the second of 10,000 euros and the third of 7,000 euros), in addition to tailor-made support adapted to the needs of each project in the sector concerned.
Doing Business at the service of the region
The business meetings organised by the centre in 2023 were attended by 400 participants and shed light on more than 90 new investment opportunities encountered. The Investment Centre also published 6 brochures and guides for global investors available in four languages.
In its mission to foster creative project ideas and to lead the region to new horizons and global markets, the Regional Investment Centre is the one-stop shop for all investors, always ready to offer them personalised and optimised routes and to accompany them to success.
