Morocco is taking part in the fifth edition of the International Aerospace Week of Montreal as guest of honor of this world-class event, which opened Tuesday with the participation of all major aerospace industry leaders and manufacturers.
Moroccan Minister of Industry, Investment, Trade, and Digital Economy, Moulay Hafid Elalamy is attending this four-day exhibition, an opportunity to showcase the huge business opportunities offered by the North African Kingdom in this sector which is booming and aims to generate a turnover of $2.8 billion and create 23,000 jobs by 2020.
Moroccan aerospace industry is growing rapidly thanks to incentives granted to investors, proximity to Europe, stability and political will to make this sector a driving force of economic growth and development.
It has attracted some big aeronautics investors in recent years, including Bombardier, Eaton Corp, Boeing…
The aeronautic industry in Morocco, which employs over 15,500 people, is growing at 15 per cent a year. Its aim is to push up exports to $1.6 billion per year and increase the percentage of locally-produced or assembled components.
About 130 international companies are already operating in Morocco which ranks 15th worldwide in terms of attracting aviation industry investments.