Latest news with #RyadMezzour
Morocco World
2 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
3 days ago
- Business
- Morocco World
Catalonian Economic Delegation Kicks Off Three-Day Mission to Morocco
Doha – A delegation of Catalonian business leaders and officials begins a three-day economic mission to Morocco today. The visit, running from May 27 to 29, aims to strengthen economic and commercial relations between the northeastern Spanish region and the North African country. The mission is organized by the Catalonian Employers' Confederation, known locally as Foment del Treball (FDT), in partnership with the Morocco-Spain Economic Council (CEMAES). About thirty entrepreneurs representing strategic sectors with high cooperation potential are participating in the delegation. Led by Josep Sánchez Llibre, president of FDT, the delegation will visit Tangier, Rabat, and Casablanca. The group includes businesses specializing in international logistics, customs management, engineering, construction, sustainable chemistry, digital solutions (SaaS), and industrial production of technical materials. During their stay, the Spanish delegation will hold meetings with Moroccan institutions including the Regional Investment Center of Tangier, the Ministry of Investment, Convergence and Evaluation of Public Policies, and Casablanca Finance City. The visit agenda includes tours of strategic industrial sites such as Tangier Automotive City and the Nouaceur Technopole. Networking opportunities are also planned with key officials, including Ryad Mezzour, Morocco's Minister of Industry and Commerce, Omar Moro, president of the Tangier-Tetouan-Al Hoceima region, and Enrique Ojeda Vila, Spain's Ambassador to Morocco. This mission is part of FDT's international projection strategy, which aims to foster sustainable economic partnerships. The initiative seeks to bring Moroccan and Catalonian productive ecosystems closer together while encouraging interregional dialogue between Europe, Africa, and the Middle East. Morocco, Spain's top trading partner in Africa The visit coincides with heightened trade and investment flows across the Strait of Gibraltar—momentum that is set to grow further as both countries, alongside Portugal, prepare to co-host the 2030 World Cup. Spain has been Morocco's top trading partner for over a decade, with bilateral trade reaching a historic record of over €22.5 billion in 2024. Spanish exports to Morocco reached €10.843 billion in 2024, showing a 68% increase. Imports from Morocco were valued at €8.220 billion, growing by 9.1% during the same period. Approximately 61% of Spanish exports to Africa go to Morocco. Morocco ranks as Spain's third-largest trading partner outside the European Union, behind only the United States and the United Kingdom. Since 2014, Spain has been both Morocco's primary customer and supplier, with 18-20% of Morocco's foreign trade conducted with Spain. Spanish investment in Morocco exceeded €250 million in both 2022 and 2023. Spanish companies invest primarily in Morocco's automotive industry, textiles, agribusiness, and tourism sectors, while Moroccan investments in Spain reached nearly €40 million by late September 2024. Read also: Spain Commits €340 Million to Casablanca Desalination Plant
Morocco World
22-05-2025
- Business
- Morocco World
Morocco to Double Power Capacity by 2030 Ahead of World Cup
Doha – Morocco plans to more than double its power generation capacity by 2030 when it co-hosts the FIFA World Cup. Energy Transition Minister Leila Benali announced the ambitious expansion during a chemical industry forum in Rabat on Wednesday. According to Bloomberg, renewable sources will make up 80% of the increase to 27 gigawatts from the current 12 gigawatts. The expansion will cost MAD 120 billion ($13 billion) through public and private investment. The North African country will host football's top tournament alongside Spain and Portugal. However, Morocco's limited fossil fuel reserves, coupled with mounting water challenges driven by climate change and recurring droughts, make early preparation essential. The largest private investment deal in Morocco's history The government signed agreements this week binding the National Office of Electricity and Drinking Water (ONEE) to a consortium of financial titans: the Mohammed VI Investment Fund, TAQA Morocco (the local subsidiary of Abu Dhabi's energy colossus), and Nareva (the energy arm of the royal holding Al Mada). The historic megadeal represents the largest private investment in Morocco's modern history. The partnership includes a 1,400-kilometer high-voltage transmission corridor from Dakhla to Casablanca. Four seawater desalination facilities will be built with a combined annual capacity of 900 million cubic meters. The desalination plants will operate exclusively on renewable energy at a competitive pricing of MAD 4.5 per cubic meter or below. 'For the first time, industry operators have access to unlimited amount of energy at the most competitive prices,' Industry Minister Ryad Mezzour said. The UAE partnership projects will also create over 25,000 jobs, with 10,000 permanent positions after commissioning. The country targets contributing 4% of global green hydrogen production by 2030. Chakib El Alj, head of the main business lobby group CGEM, confirmed this projection. State-controlled OCP SA plans to produce 3 million tons of green ammonia in 2027. This would make it the world's largest producer of carbon-free fertilizer, according to manufacturing executive Ahmed Mahrou. Renewable energy at the forefront More than 2,000 megawatts of renewable energy projects have been authorized under the current government. These projects represent an investment of over MAD 19 billion ($1.9 billion) and have generated over 300 direct jobs plus thousands of indirect positions. The government is accelerating plans to harness the wind and solar energy potential. This includes projects in its southern provinces in the Western Sahara to boost water desalination capacity and attract foreign investment in the green economy. Morocco's energy efficiency approach aims for 20% energy savings by 2030. The strategy considers objectives within the country's sustainable development plan and targets transport, construction, industry, agriculture, and lighting sectors. Additionally, the country aims to generate 52% of its energy from clean renewable sources by 2030. Morocco has launched an initiative rewarding citizens who achieve energy savings, leading to 3% decrease in consumption. The government expects energy efficiency measures to create 100,000 jobs by 2030. Energy savings of 6.58% were recorded in 2020 alone. Morocco will invest MAD 30 billion ($3 billion) in upgrading its national electricity grid by 2030. This investment excludes an important 3-gigawatt power link connecting the southern and central regions. The government is allowing private sector participation in the electricity network when necessary. This marks the first time authorities opened the door to private grid investments. Over 9 gigawatts of renewable energy capacity will be added between 2023 and 2027, with an estimated investment of MAD 90 billion ($9 billion). The government aims to quadruple annual renewable energy investments. Current renewable energy capacity stands at 5.4 gigawatts, supplying nearly 20% of electricity demand. Morocco has invested in renewable energy for fifteen years, which now covers 38% of electricity needs. The Noor Ouarzazate complex produces around 580 megawatts and ranks among the world's largest concentrated solar power plants. These strategic efforts align with King Mohammed VI's directives to accelerate Morocco's energy transition. Read also: Portugal Turns to Morocco Power Link as France Blocks EU Grid Tags: 2030 World Cupleila benalirenewable energy
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
