Latest news with #Mezzour
Morocco World
a day ago
- Business
- Morocco World
Textile: Valerius Morocco's New $10.27 Million Plant to Create 1,640 Jobs
Doha – Valerius Morocco inaugurated its new clothing manufacturing facility in Salé on Thursday. The ceremony took place in the presence of Morocco's Minister of Industry and Commerce, Ryad Mezzour. The project represents a total investment of MAD 102.72 million ($10.27 million). It will generate 1,640 new direct and indirect jobs in the region. The establishment of this manufacturing unit stems from an investment agreement signed between Valerius Morocco and the Moroccan government on July 27, 2021. This agreement was formalized under the Industrial Development and Investment Fund (FDII). In Lisbon in 2023, Morocco and the Portuguese textile group Valerius Texteis signed a MAD 1 billion ($100 million) agreement for a textile recycling project expected to create 1,500 jobs. Speaking at the inauguration, Minister Mezzour talked about the strategic importance of the textile sector to the national economy. 'With 227,460 jobs and MAD 45.9 billion ($4.59 billion) in export turnover, the textile sector occupies a strategic place in the national economy,' he stated. The minister noted growing interest from foreign investors, particularly Portuguese companies looking toward Morocco. 'Our country represents a strategic choice for Portuguese textile manufacturers seeking co-production opportunities to strengthen their proximity supply chains,' Mezzour added. Hammani Amahzoune, General Manager of Valerius Morocco, emphasized the benefits of the partnership. 'This partnership allows us today to produce for major brands and companies, whether based in the United States or Europe,' he said. Integrating design and creativity to boost Moroccan textile's global standing According to Amahzoune, quality is a major asset for the company. He revealed that Valerius Morocco has invested in equipment of European and American origin to excel in quality and attract more orders. He also stressed the importance of continuous training of human resources, which has generated interest from major international textile brands. Valerius Morocco is a joint venture between Moroccan company SG3H and the Portuguese international industrial group Valerius Group. The partnership combines expertise in industrial manufacturing, design, creativity, R&D, and marketing within the textile sector. The project falls within the Fast-Fashion ecosystem. Through this initiative, Valerius Morocco aims to strengthen its position as a manufacturer of women's and children's clothing, focusing on finished products that integrate design and creativity. Minister Mezzour expressed hope that this collaboration signals a fruitful partnership between Moroccan and Portuguese textile industries. He anticipates that the relationship will extend to other initiatives, such as the use of recycled fibers and ecological dyeing processes to reduce carbon footprint. Read also: Galician Textile Industry Turns to Morocco Amid Portuguese Industry's Crisis Tags: textile in Moroccotextile industry
Morocco World
4 days ago
- Business
- Morocco World
Morocco Signs Deals for Eight New Sustainable Industrial Projects
Rabat – Several partnership agreements were signed Tuesday in Rabat for eight projects selected under the second edition of the Sustainable Industrial Zones Fund (FONZID II). The projects were chosen through a national call for proposals and represent a total investment of nearly MAD 989 million, including MAD 138 million in funding from the FONZID II. The goal is to increase the supply of high-quality industrial land by creating, expanding, and upgrading industrial zones that meet sustainable, inclusive, and competitive standards. The selected projects include the creation of a new industrial zone in Oued Zem, the creation of an economic activity zone in Ameur, the development of a sustainable industrial park in Taroudant, and upgrading the industrial zone of Ait Melloul. It also includes renovating the Ain Chkef multi-service industrial zone, developing an industrial park in Mohammedia, turning an industrial zone in the Tangier-Tetouan-Al Hoceima region into a green zone, and creating a 'Fertiparc' industrial area in Khouribga. Ryad Mezzour, Minister of Industry and Trade, attended the signing ceremony. The signed agreements support the government's goal of building a new model for sustainable industrial zones, he said, adding that the initiative will boost investment and help improve the economic, social, and environmental performance of businesses in Morocco. 'These projects are important examples of success,' Mezzour added. 'They are part of our efforts to make Morocco a regional leader in sustainable industry.' Akram Allaoui, Director of Industrial Zones at the Ministry, noted that the new agreements aim to achieve three main goals, including modernizing existing industrial zones, developing new ones, and creating zones dedicated to trade. FONZID II provides funding that can cover up to 50% of the total cost, with a maximum of MAD 30 million for new or expanded zones, and up to MAD 20 million for renovation projects. Tags: industrysustainable industry
Morocco World
12-05-2025
- Business
- Morocco World
Morocco Makes Progress in Integrating Street Vendors into Formal Economy
Rabat — Morocco's Minister of Industry and Commerce Ryad Mezzour recently said that over 86,000 street vendors have joined the country's formal economy, a significant progress in the implementation of the national program aimed at regulating informal commerce. Speaking at the House of Representatives, Mezzour revealed that these vendors make up approximately 70% of the 124,000 identified nationwide. The commerce sector ranks as Morocco's second-largest employer, engaging 1.6 million people — 15.6% of the active population — and generating MAD 151 billion ($15 billion) in annual value. While operating outside formal channels, street vending plays a vital role in Moroccan society. This sector meets local needs and provides livelihoods, especially in working-class neighborhoods. Despite its economic importance, economists assert that the growth of informal commerce continues to hamper both structured businesses and consumer service quality. The government plan operates under Morocco's National Human Development Initiative (INDH) with local authority oversight. The government's focus in this sector is on regulation, rather than eliminating this important and longstanding commercial practice. Read also: Minister: With 1 Million Workers, Industrial Sector is Essential to Morocco However, assessments by the Ministry of Interior and the Economic, Social and Environmental Council (CESE) have identified several obstacles to fully, successfully implement the program. Part of the government's plan is to move these vendors into more formal commercial centers, but they face a lack of places to relocate them. Additionally, not all vendors are willing and open to make this change, and in terms of formal bookkeeping, there are significant discrepancies between initial vendor counts and those working in specific areas. In response to this situation, Mezzour has urged municipalities and authorities to develop more nuanced approaches to organizing street commerce, including conducting detailed analyses of supply chains, points of conflict, and local characteristics to create more effective and sustainable solutions. The government is simultaneously promoting vendors to take on the self-employment (auto-entrepreneur) status to encourage informal workers to join the structured economy. This status offers simplified tax advantages and access to social protection, marking important progress in coverage and recognition for small-scale entrepreneurs. While the gradual integration of street vendors into the formal sector shows progress, it also reveals the limitations of centralized approaches to diverse local realities. The key now lies in coordination between local authorities, the state, and economic stakeholders to develop flexible, fair, and sustainable regulation that addresses both social and economic challenges in neighborhood commerce.
Morocco World
10-05-2025
- Business
- Morocco World
Morocco Strengthens Role as Africa Gateway in New Chinese Investment Push
Rabat – Moroccan and Chinese companies signed two significant partnership agreements on Friday in Rabat during a meeting between Morocco's Minister of Industry and Trade, Ryad Mezzour, and a Chinese delegation led by Ye Jianchun, Governor of Jiangxi Province. The first agreement, signed by Morocco's Cooper Pharma and China's Jemincare Pharmaceutical Group, aims to develop innovative therapeutic solutions, enhance industrial capabilities, and promote technology exchange. The initiative supports Morocco's strategy to boost local pharmaceutical production and strengthen national health sovereignty. The second partnership involves Bank of Africa and Jiangxi Geo-engineering Investment Group. The agreement reflects China's growing interest in the Moroccan market and highlights a shared ambition to position the kingdom as a strategic gateway for investment across Africa. Speaking to the press, Mezzour underlined the rapid progress in Moroccan-Chinese economic relations, emphasizing that these partnerships align with Morocco's broader vision to attract Chinese investments and promote sustainable development across Africa. He also stressed that the deals are consistent with King Mohammed VI's directives, particularly those encouraging African solidarity and national health security through local manufacturing of medicines and active pharmaceutical ingredients. Both Mezzour and Jianchun praised the robust momentum of the Morocco-China economic partnership, citing its expanding scope, the launch of multi-sectoral projects, and the increasing presence of Chinese industrial groups in Morocco, especially in sectors like manufacturing and infrastructure. The visiting Chinese delegation, which includes government officials and industrial leaders, is in Morocco to explore opportunities for deeper collaboration, focusing on joint projects, investment promotion, and knowledge sharing in the industrial sector. Morocco and China are expanding their cooperation across various sectors, including tourism, as part of efforts to strengthen bilateral ties. In a significant step, the Moroccan National Tourist Office (ONMT) has begun the process to obtain the prestigious 'China Ready' certification, positioning Morocco to become the first destination in North Africa to receive this label. The initiative is part of Morocco's broader strategy to tap into high-potential tourism markets and attract more Chinese travelers by adapting services and experiences to their expectations. Tags: Morocco Chinamorocco china cooperationMorocco economy
Maroc
28-04-2025
- Business
- Maroc
Industry Minister Reiterates Morocco's Commitment to Bolstering Economic Ties with China
Monday 28 April 2025 Morocco's Minister of Industry and Trade, Ryad Mezzour, reiterated on Monday Morocco's commitment to bolstering its economic ties with China as part of the China–Arab States Cooperation Forum. In a video address during the opening ceremony of the 11th Entrepreneurs Conference of the China-Arab States Cooperation Forum and the 9th Investment Seminar, held in Haikou, capital of China's Hainan province, Mezzour welcomed Morocco's designation as guest of honor for this edition, considering it a reflection of the Kingdom's position as a strategic partner of China. He recalled the historic visit of His Majesty King Mohammed VI to Beijing in 2016, which injected new momentum into bilateral relations, culminating in the signing of a Strategic Partnership Declaration between the two countries. Mezzour noted that Morocco was among the first Arab nations to join the Belt and Road Initiative, emphasizing that Sino-Moroccan cooperation is now visibly embodied in the industrial, energy, and logistics sectors. He highlighted the significant progress achieved by Morocco over the past twenty-five years under the reign of HM King Mohammed VI, citing the development of world-class infrastructure such as the high-speed rail line connecting Casablanca and Tangier, as well as the Tanger Med port complex. The minister also underlined Morocco's advantageous geostrategic position at the crossroads of Africa, Europe, and the Middle East, granting access to a market of 2.4 billion consumers. Morocco is witnessing growing inflows of international investors, he said, attributing this to its policy of economic openness, reforms in the legal and financial sectors, the establishment of special economic zones such as Casablanca Finance City, and state support for projects promising for the national economy. This openness, he added, is further strengthened by regional integration policies and solid partnerships, particularly within the framework of cooperation with Arab brother countries, which remains a strategic priority for the Kingdom. Mezzour proposed, in this context, the development of a Sino-Arab digital platform aimed at facilitating interactions between entrepreneurs from both sides and establishing connections between investors and project developers. He also advocated for the implementation of training programs focused on artificial intelligence and the green economy to equip young talents with the skills required to meet the demands of the global market. He called for the creation of support mechanisms for small and medium-sized enterprises (SMEs), describing them as the "backbone of Arab economies," including dedicated investment funds and technical support to facilitate their international expansion. Mezzour further stressed the importance of strengthening partnerships between the public and private sectors to foster the exchange of expertise and benefit from China's experience in industrial development. MAP: 28 avril 2025 Share
