Morocco’s Inter-Ministerial Investment Commission Approves 40 investment projects for 2014

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Forty investment projects for 2014 with a total budget of 42 billion dirhams have beenMorocco’s Inter-Ministerial Investment Commission Approves 40 investment projects for 2014 approved by the Inter-ministerial Commission of the Kingdom of Morocco few days before the New Year. Said investment agreements are counting to create more than 2,000 direct jobs and stable and 14,000 indirect jobs.

The energy sector accounts for three quarters to the amount of such investments with 31 billion dirhams, followed Infrastructure, Transport and Logistics (4 billion dirhams), a statement of the Department Head of Government, stating that these sectors will generate 850 direct jobs and stable. Telecoms in third place with 7.3% of total investment, followed by industry (4.8%) and tourism (3.8%), the statement said.

Regarding the geographical distribution of projects examined by the commission, Doukkala-Abda region tops the line with 57% of total investments, followed by Eastern (11%), while 580 jobs will be created in the region of Tangier-Tetouan and 400 of Greater Casablanca.

Moroccan-foreign projects represent 63% of the investments considered by that committee, with a budget of 22.87 billion dirhams, while domestic investments occupy the second position with 32% and a budget of 13 billion dirhams, covering telecom, energy and infrastructure. Third place went to foreign capital with 5% of total investments.

Authorities appeals to expedite the implementation measures relating to the action plan on improving the business climate and to simplify procedures for business creation, and those relating to payment of taxes and foreign trade.

The Head of State urged departments to accelerate the pace of signing agreements approved by the Commission, and within a maximum period of one month.