Morocco on Track to Meet Goal of Creating 500K Industry Jobs by 2020- Official
Morocco is steadily forging ahead with the goal of creating 500,000 jobs in the industrial sector by 2020 as part of the Industrial acceleration plan, said Industry minister Moulay Hafid El Alamy noting that 280,000 jobs have already been created between 2014 and 2017.
He said at a press conference that the current pace would enable Morocco’s industrial sector to exceed the set employment goals to 557,778 jobs by 2020.
The industrial acceleration plan was introduced in 2014 with the aim to bring the sector’s contribution to GDP from 14% in 2014 to 23% by 2020. It is based on the development of “ecosystems”, or productive industrial clusters, aimed at stimulating growth and enhancing competition of the sector’s various components.
This approach is meant to facilitate technology transfers as well as further business integration to improve quality and productivity.
Thanks to this plan, Morocco created clusters in the car industry and aeronautics, attracting investments by car giants such as Renault and Peugeot along with leading car-part suppliers. The same can be said about aeronautics with investments from Bombardier, Latisma, Alcoa and Stelia.