First Independent Mena Newspaper
South Korean wheel manufacturer, Hands Corporation, will soon operate a factory worth 4.33 billion dirhams ($472 million) in Tangier. A ceremony marking the launch of construction works of the new plant was attended by Morocco’s Industry and Investment Minister Moulay Hafid Elalamy who said that the 23 hectare-factory will create 1300 direct jobs and will […]
The informal sector makes up 20% of Morocco’s GDP said a study conducted by the association of Morocco’s employers (CGEM). The study shows that the textile sector remains the most affected with the informal economy rising up to 54% followed by road transport 32%, construction 31% and agri-food industry 26%. The informal sector employs 2.4 […]
Morocco’s Economy and Finance Minister Mohamed Boussaid was selected Chairman of the Board of Governors of the Jeddah-based Islamic Development Bank Group (IDB) for a year. The tenure will end at the end of the 44th Council meeting, scheduled to take place in Marrakech in April 2019, said a statement from the Finance Ministry. Boussaid […]
Morocco’s economic growth and the foreign direct investments it attracts are luring international insurance companies such as Lloyds, which has recently inaugurated a branch in Casablanca. Lloyds, which has acquired the status of the Casablanca Finance City (CFC), sees in Morocco enormous growth potential, Inga Bealesa, President of the British insurance giant, told local paper […]
PSA Group’s factory announced that its plan is going according to schedule with first car to be released in April 2019. In 2017, the French car manufacturer launched construction works of its plant at the free zone of Kenitra, located at some 40 km to the north of Rabat, with the aim of reaching an […]
Morocco ranks as the sixth largest recipient of the Islamic Development Bank funding with total loans amounting to $6.8 billion said Economic and Finance Minister Mohamed Boussaid. Speaking at the opening of the 43rd annual meeting of the group, Boussaid said the bank offered $2.9 billion to fund development projects in areas covering energy, transport, […]
Argentina is interested in signing a free trade agreement with Morocco in order to foster bilateral trade, said Argentinian Foreign Minister Jorge Faurie who is on a visit to Rabat. Speaking to the press following a meeting with Secretary of State for Fisheries, Mbarka Bouaida, the Argentinian official underscored that the FTA will help the […]
The Hilton Hotels & Resorts Group, which is expanding and enhancing its presence in Morocco, will build a new hotel in Rabat, capital of the North African Kingdom. The 150-room Hilton Rabat, to open in 2022, will be part of the city’s Wessal Bouregreg project. The Wessal Bouregreg master development has a range of residential, […]
The UK announced the allocation of £3 billion to companies willing to export to Morocco or operate in the North African country whose business climate, geographic location and qualified labor is luring companies targeting the African market. This announcement was made Tuesday in London by representative of the UK Department for International Trade in Morocco, […]
SNI, the largest stakeholder in the Moroccan economy, announced that it has changed its name into Al Mada in tandem with gearing its activity towards becoming a pan-African investment fund. This change was approved at a meeting of SNI’s board of directors on March 28 in Casablanca, said the company in a statement noting that […]