First Independent Mena Newspaper
Morocco strives to improve its competitiveness in order to outperform India and China as the most attractive hub for automotive investments, Industry Minister Moulay Hafid El Alamy said. Morocco has offered propitious conditions for car manufacturers and part suppliers in key industrial clusters in Tangier, Casablanca and Kenitra. Building on its investments in low-carbon economy […]
Algeria’s oil and gas revenues will be reduced by $10 bln to $23 billion as the country struggles with a surge in spending in a heavily subsidized economy. Algerian officials rang the alarm bell as to the deteriorating financial indicators as a result of dwindling energy revenues which represent more than 90% of exports. To […]
Maroc Telecom Group has said that its customers continue to grow (up 9.1 pc year-on-year), reaching 68.4 million during the first half of 2020. This increase is due partly to the consolidation of Tigo Chad into the Group’s since July 1, 2019. As of June 30, 2020, its mobile customers reached 19.6 million, up slightly […]
French carmaker PSA plans to speed up production at its Kenitra plant to hit the annual target of 200,000 vehicles by next September. PSA has withstood the coronavirus crisis posting sales higher than last year and taking up 46% market share in the region. Sales improved in key markets such as Turkey by 5.4%; 3.9% […]
Morocco has further loosened the restrictive measures to contain the coronavirus but calls on citizens to maintain vigilance. From this Monday, hotels are able to operate at full capacity while inter-city transport companies are allowed to fill in 75% of their capacity. Shared facilities such as restaurants and sports clubs will operate at half capacity, […]
The advent of the coronavirus pandemic has exposed European manufacturers to the risk of over-reliance on China’s supply where many firms were tempted by low production costs and skills. Morocco Stands to benefit from this restructuring, building on its competitive assets, infrastructure, competitive wages and skilled workforce, the Oxford Business Group and a DW report […]
A new high-tech textile industrial unit in Casablanca will start operations shortly, under an agreement signed this week by Minister of Industry and Trade, Moulay Hafid Elalamy, and the managing director of Omega Textile Maroc, Song Linghui. The unit, requiring an investment of 80 million dirhams, will manufacture hosiery, socks and lingerie by using new […]
The coronavirus outbreak has caused a surge in spending and a drop in revenues for state coffers pushing the government to review the targets and spending schemes under the 2020 budget while maintaining priority for social spending. The administration has adopted austerity measures to reduce unnecessary spending saving some $200 million that was scheduled for […]
The Moroccan government’s response to the coronavirus outbreak was “swift and decisive,” the World Bank said in its Economic Monitor report for July 2020. “The government’s proactive response enabled the country to avoid a massive outbreak, thus saving lives,” said the Washington-based institution, noting that continued good policy measures are “critical” both to shorten and […]
Tunisia has been chosen to host the 8th Tokyo International Conference on African Development, TICAD, scheduled for 2022, Japan’s embassy to Tunisia announced on Thursday. “Initiated by Japan’s government since 1993, this international conference aims to speed up political dialogues between African leaders and development partners on challenges facing the Continent. It is a multi-lateral […]