First Independent Mena Newspaper
The African Development Bank, AfDB, agreed Monday to allocate to Tunisia a credit line worth 103.95 million euros earmarked for the second phase of a road infrastructure project (PMIR-II) in the North African country. The credit will be used to rehabilitate 230.6 km of road in five governorates according to Minister of Equipment and Housing […]
The surge of commodities prices and its impact on subsidized products augurs ill for the Moroccan economy which has to prepare for a deepening budget and trade deficits. The price of oil has increased from an average of $70 per barrel to $120 while wheat prices tripled, smashing a record high of $375/t as the […]
Morocco is currently searching for cobalt, a key commodity for rechargeable batteries and renewable energy transition, in tandem with an increasing demand on the metal, a Moroccan official told Reuters. Secretary General of Morocco’s hydrocarbons and Mines office, Abdellah Mouttaqui said that the office and Moroccan mining company are prospecting for cobalt in the area […]
Morocco topped North African countries in the Economic Freedom Index which covers 12 freedoms – from property rights to financial freedom – in 184 countries. Globally, Morocco was ranked the 97th freest in the 2022 Index. But its overall score was above the regional average. Algeria continued to lag behind ranking the 167th globally and […]
The city of Dakhla will host, this March 8 and 9, the Morocco-United States Investment Forum, meant to strengthen bilateral economic ties, highlight the investment assets in the Moroccan southern provinces and promote the region through the presentation of its potential and investment opportunities to American investors and operators. Initiated by the Council of the […]
A new step forward in the legalization of cannabis cultivation in Morocco was made Thursday as the government adopted at its weekly meeting a decree regulating the activities related to the culture of the plant and selected three provinces, namely Al Hoceima, Chefchaouen and Taounate that will grow cannabis legally. This decree, drafted by the […]
In 2021, $120 million private investments were injected in 28 new projects in all Tanger Med’s activity zones, says the port’s management in its latest newsletter. The new projects created 4397 additional jobs. They were made by private entities and corporations from UK, USA, France, Italy, Ireland, China, Portugal, Japan, Germany, Belgium, Spain… The list […]
The Russian invasion of Ukraine has disrupted commodities market sending prices skyrocketing at a context the world is struggling to recover from the repercussions of the Covid-19 pandemic. Morocco’s sovereign Mohammed VI had- prior to the outbreak of this war- urged the government to take concrete measures to foster Morocco’s self-sufficiency on the strategic areas […]
Morocco exported 851 Ghw of electricity in 2021, worth 565 million dirhams ($60 million), as it continues to diversify its energy mix away from fossil fuels, the treasury said. Electricity exports were up 700% compared to a year earlier while imports grew only 20% to 688 Gwh, the treasury said in a recent report. The […]
Turkish automotive supplier Martur Fompak International inaugurated an industrial plant on Tuesday, March 1 in Tangier Automotive City. Built over 38,487 m², the plant required an investment of more than $35.6 million (340 million dirhams) and will allow the creation of 1,150 jobs. Located in one of Morocco’s biggest industrial zones, the factory […]