His Majesty, King Mohammed VI has chaired the launch ceremony for 26 industrial investment projects for the automobile sector with total investment of 13.78 billion dirhams (MMDH).
These investment projects demonstrate the established position of Morocco in industrial sectors with high added value as well as the confidence of well-known industrial operators in the national industrial development plan. They also bear witness to the industrial transformation under way in the country, which is moving steadily towards a solid economic model, further strengthening its march towards the group of emerging nations.
The Minister for Industry, Investment, Trade and the Digital Economy, Moulay Hafid Elalamy, gave a speech in front of His Majesty the King in which he emphasised that “the success achieved in the industrial sector, in general, and in that of the automobile industry more specifically, are thanks to the Vision and the leadership of His Majesty the King.
The Industrial Acceleration Plan and the ecosystems process are genuine levers for industrial acceleration that are already under way,” the Minister added, explaining that the 26 investment projects launched for the automobile industry would introduce new specialisations to Morocco, and strengthen local integration. This will further enrich the manufacturing fabric of the nation, and help meet a need that was previously filled through imports all while creating 11,568 direct jobs.
Mr Elalamy explained that the launch of these investment projects would lead to the production of aluminium wheel rims, dashboards, bumpers, seats and even electromechanical gearboxes.
Out of the 26 investment projects signed, 6 fall within the implementation process for the Renault Ecosystem, which is developing a global supply platform for the company based in Morocco. Thanks to the creation of this large-scale industrial ecosystem, the manufacturer can now be supplied with parts manufactured in Morocco worth a total of one billion euros per year, reaching a local rate of integration of 55%.
13 investment projects will be implemented as part of the PSA Ecosystem, which will encourage development across the entire subsidiary and boost the emergence of a high quality industrial centre in Kenitra. Five other investment projects fall within the “Cabling and connector” Ecosystem, and finally two projects are part of the Valeo Ecosystem.
Source : MCINET