First Independent Mena Newspaper
Morocco and the China Association for Industrial Cooperation (CAIC) have agreed to set up an economic zone in Fez offering a platform for various industries. The deal is reflective of China’s increasing interest in Morocco notably after the Kingdom signed with China’s Haite Group an agreement to set up a $10 billion industry and technology […]
IMF Managing Director, Christine Lagarde, commended Morocco for the “genuine” budgetary and sectoral reforms it has undertaken to balance its finances. The IMF head told the press on the sidelines of the annual meetings of the IMF and the World Bank that Morocco has used its credit line to carry out fiscal and structural reforms. […]
Maroc Telecom, Morocco’s largest telecom operator, said that it invested €6 billion over the last decade in modernizing telecommunication infrastructure in the African continent. Speaking to the press following talks with Côte d’Ivoire’s president in Abidjan earlier this week, head of Maroc Telecom management board, Abdesslam Ahizoune, said that the company is planning to expand […]
Siemens has inaugurated the first Turbine Blade Factory in the northern Moroccan city of Tangier that was completed for a total cost of $118 million. Built over a surface area of 37,500 square meters, the new factory is the first of its kind in North Africa and the Middle East and will offer 600 jobs […]
Following its material successes in the Tendrara project in eastern Morocco, Sound Energy, the European and African focused upstream gas company, announced plans to shift its focus entirely on accelerating exploration drillings in Morocco. Sound Energy’s increasing focus on Morocco comes after the company’s disappointing activities in Italy where it stripped out its assets. In […]
Tourism contribution to Morocco’s GDP stood at 7% with a turnover of 115 billion dirhams in 2016, tourism and air traffic minister Mohamed Sajid said. Speaking at the weekly government meeting, the Minister said that the tourism sector is among the key drivers of employment in Morocco offering 2.5 million direct and indirect jobs. In […]
The European Bank for Reconstruction & Development has enhanced its presence in Morocco with the opening of a second office in the North African Kingdom. The Bank’s first office is based in Casablanca, Morocco’s economic capital, while its 2nd office was opened Wednesday in the Northern city of Tangier. It primary goal is to support […]
Morocco’s Central Bank, Bank Al-Maghrib, decided Tuesday to maintain its key interest rate unchanged at 2.25 % during the third quarterly meeting of its Board of Directors which expects a 4.3% growth in 2017. After analyzing recent economic developments and reviewing the macroeconomic forecasts, the Board deemed as “appropriate” the decision to uphold the key […]
Moroccan rail industry operators (GIFER), in partnership with the Industry Ministry, are mulling a program to turn the rail industry sector to a driver of growth following the example of the car industry. The aim is to promote innovation and research that will eventually lead to promoting trains made in Morocco, La Vie Eco, daily […]
Russia’s Energy Minister Alexander Novak said Russian companies are interested in Morocco’s gas projects, notably the liquefied gas terminal in Jorf Lasfar and the Moroccan-Nigerian gas pipeline. “Our companies are interested in participating in those projects. We are ready to supply LNG, construct gas pipeline and terminal,” said the Minister in an interview with Russian […]