Industry takes lion’s share in Morocco’s government investment plan for 2023

The Moroccan government has approved 76.7 billion dirhams, or 7.67 billion dollars in investment projects, of which the industrial sector took the largest chunk.

The government geared 53.6 billion dirhams to industry, that is 70% of the total investments planned this year, followed by desalination with 14% and renewable energies with 4%.

In total 21 projects have been approved by the government’s investment commission, chaired by PM Aziz Akhannouch, with the aim of creating 5728 jobs directly and 14707 indirectly.

Phosphates and fertilizers producer OCP and its projects took 64.8 billion dirhams as it plans to implement a green transition plan by 2027 worth in total 130 billion dirhams.

Under the approved projects, OCP plans to build a desalination plant with a capacity of 250 cubic meters in Safi by 2027.

The projects were the first to be approved under a new investment charter that grants subsidies to investors in strategic or job-creating sectors or in remote areas.