First Independent Mena Newspaper
Thanks to an economic recovery and better tax revenue, the Moroccan government reduced its fiscal deficit to 6% of GDP in 2021 from 7% a year earlier, the finance ministry said. The deficit stood at 70.9 billion dirhams, down from 82.3 billion dirhams in 2020, a year in which Morocco imposed a three-month long lockdown […]
The Rabat-based Bayt Mal Al Quds Acharif Agency on Wednesday approved the first part of social and human development projects in Al Quds Acharif under its 2022 annual plan for a total amount of one million dollars, within the framework of the unwavering solicitude of King Mohammed VI, Chairman of the Al-Quds Committee, towards the […]
The Moroccan mining group, Managem, and the Anglo-Swiss global commodity trading giant, Glencore, have signed a strategic partnership to produce cobalt from recycled battery materials, in Morocco, the two groups announced this Wednesday January 26 in a press release. The partnership provides for the production of recycled cobalt, nickel and lithium at Managem’s CTT Hydrometallurgical […]
The European Bank for Reconstruction and Development (EBRD) announced on Tuesday an additional €3.5 million loan to Land’Or Maroc Industries (LMI), a Moroccan subsidiary of Land’Or, a leading Tunisian producer of processed cheese. The new financing will enable LMI to purchase and install additional equipment and build a storage extension at its new cheese manufacturing […]
Morocco has launched an ambitious plan to cut its trade deficit by $3.7 billion by offering incentives to local investors to produce imported goods locally, Morocco’s trade minister said. So far 731 industrial projects were eligible for state subsidies, of which 90% will be funded by a Moroccan capital, minister Riad Mezzour told MPs. Most […]
Greenland Technologies Holding Corporation, a Chinese group that develops and manufactures 100% electric industrial vehicles has signed a distribution agreement with Morocco, its first platform in Africa. The Chinese technology developer and manufacturer of electric industrial vehicles and drivetrain systems for material handling machineries and vehicles announced over the weekend it has signed a new […]
Ryanair has scheduled Morocco on its 2022 summer schedule with tourist hubs Marrakech and Agadir on top of the list. The news came as a denial of a report by Maghreb Intelligence news outlet saying the company plans a withdrawal from Morocco which has shut its borders to passenger traffic due to the surge in […]
Tunisia has ratified a loan agreement with the European Union for €200 million to be tapped by the country’s Small and Medium Enterprises (SMEs). The deal for the credit line which includes €50 million in form of grant, was signed back in June last year and covers the 2021-2023 period. The financing aims to boost […]
Moroccan Prime Minister Aziz Akhannouch defended the performance of his cabinet after 100 days in office saying that large scale reforms are on track with a particular focus on employment and the relaunch of economic activity. After pointing out to the improvement of domestic demand, Akhannouch said the government plans to create 250,000 temporary jobs […]
The Moroccan industrial sector has demonstrated its ability to meet all the needs of the Kingdom, in spite of COVID-19 pandemic repercussions, said Minister of Industry and Trade, Ryad Mezzour. During the question time at the upper house of the Moroccan parliament on the prospects and challenges of Morocco’s industrial policy, Mezzour stressed that the […]