First Independent Mena Newspaper
Morocco has entered the global electric vehicle supply chain with COBCO’s inauguration of a 20-billion-dirham factory at Jorf Lasfar on June 25, marking the kingdom’s strategic leap into green technology manufacturing. The facility, spanning 238 hectares, represents a joint venture between Moroccan Africa-oriented investment fund Al Mada and Chinese giant CNGR Advanced Materials. As the […]
Morocco’s 2023 budget execution delivered positive results despite complex international and domestic challenges, Budget Minister Fouzi Lekjaa told Parliament’s Public Finance Control Committee Tuesday while presenting settlement law project 07.25. The global economy showed resilience with inflation declining to 6.6% from 8.6% in 2022, though growth slowed to 3.3% due to persistent crises and escalating […]
In recent years, Morocco has been investing in upgrading its airpower capabilities amid rising threats in an unstable wider region. The country has emerged as a regional deterrent power and an exporter of stability as it reshapes its military doctrine around advanced aerial capabilities. This transformation is driven by strategic necessity and a clear ambition: […]
Tesla’s Africa expansion through its new Morocco office opens doorways for its vehicles to sell in more than 50 countries that the North African country has free-trade agreements with, said the “China Global South” news outlet. The U.S. EV giant’s Africa expansion intensifies a battle for dominance in Africa’s emerging electric vehicle market, where Chinese […]
Secretary General of the Association of Southeast Asian Nations (ASEAN), Kao Kim Hourn, has expressed steadfast support for Morocco’s territorial integrity and hailed the royal initiatives launched for Africa’s development and prosperity. The supportive stands come in a joint statement released Tuesday in Rabat following Kao’s meeting with Moroccan Foreign Minister Nasser Bourita. The two […]
Morocco’s Central Bank has decided to maintain the key interest rate unchanged at 2.25 percent due to deceleration in food prices and a slowdown of inflation from 2 % on average in the first quarter of this year to 0.7 % in April and 0.4 % in May. The decision was made by the Bank’s […]
Morocco and Turkey have reaffirmed their commitment to strengthening economic ties by addressing long-standing concerns over trade imbalances. During the sixth session of the Joint Commission on the Free Trade Agreement (FTA), held in Ankara, both nations agreed to recalibrate their commercial relationship to ensure greater equity and mutual benefit, the two parties said in […]
The Moroccan handicraft sector, long rooted in tradition and cultural heritage, is undergoing a significant transformation as it asserts itself as a vital pillar of the national economy, representing 7% of GDP, Lahcen Saadi, Secretary of State in charge of Handicrafts and the Social and Solidarity Economy said. The sector now employs over 2.7 million […]
Morocco’s Transport Ministry has unveiled comprehensive measures to accommodate 7.5 million passengers and 2 million vehicles during the annual “Marhaba” operation, deploying 29 vessels across 13 maritime routes in coordination with multiple stakeholders. Transport Minister Abdessamad Kayouh, addressing Parliament on Monday, detailed the extensive mobilization including ships with weekly capacity for 500,000 passengers and 130,000 […]
Morocco’s economic diplomacy scored a significant victory as Hamza Benabdellah, President of the Fez-Meknes Chamber of Commerce, Industry and Services, was elected Vice-President of the Permanent Conference of African and Francophone Consular Chambers (CPCCAF) during the organization’s 49th General Assembly in Fez. The statutory meeting, coinciding with the 5th Fez-Meknes Economic Forum, also saw Youssouf […]