First Independent Mena Newspaper
King Mohammed VI who is following up with keen interest the evolution of the booming automotive industry in Morocco was briefed Thursday on the extension project of the Moroccan Society of Automotive Construction (SOMACA), which is planning to double its production capacity by 2022. The plan was unveiled by Minister of Industry, Investment, Trade and […]
Japanese automotive supplier JTEKT has launched the construction works of a plant to produce electric power steering systems. The plant, the Japanese group’s first in the MENA region, is located in Tangier. With an initial investment of $22 million, the factory aims to reach an initial production capacity of 300,000 units a year when it […]
Morocco’s aeronautic sector continues to attract more investors and major manufacturers thanks to the country’s political stability, low-cost labor, tax incentives and geostrategic position. The burgeoning sector expanded with the opening in Casablanca suburbs of two new plants by STTS, a subsidy of French industrial group SATYS specialist in aircraft painting, and the Société franco-marocaine […]
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 Souss-Massa region, which attracted more than 18 billion dirham-investments in 2017, is poised to become a platform of exports towards Africa. This new vocation of the region was stressed at a ceremony held Sunday in Agadir under the chairmanship of King Mohammed VI and during which the Souss-Massa Regional 2014-2020 Industrial Acceleration Plan was […]
Morocco chose a successful businessman and current industry minister to lead its charm offensive to host the 2026 World Soccer Cup, in a fifth attempt by the kingdom to organize the global sports event. Moulay Hafid Elalamy will act as the governmental interlocutor for FIFA and will be tasked with coordinating the campaign to host […]
Japanese companies operating in Morocco have quadrupled in recent years in light of the investments opportunities offered by Morocco, notably in the sectors of car making and electronics, said Japan’s Parliamentary Vice-Minister for Foreign Affairs Shunsuke TAKEI, who is leading a Japanese business delegation on a visit to Morocco. “Japanese enterprises can contribute to the […]
Hungarian Foreign Minister Peter Szijjarto said after talks with Moroccan government members in Rabat that his country can serve as a logistics hub for Morocco’s exports to Russia and Balkan countries. “Hungary can serve as a logistics hub for Morocco’s exports towards Europe, Russia and Balkan countries,” Szijjarto was quoted as saying in a statement […]
Moroccan aeronautic industry is growing rapidly thanks to incentives granted to investors, proximity to Europe, low labor costs, stability and political will to make this sector a driving force of economic growth and development. This highly Moroccan competitive sector continues to attract foreign investment and gain trust of giant manufacturers such as American Boeing which […]
Morocco announced on Monday an ambitious investment reform plan including multiple incentives, in a bid to capitalize on its business climate and political stability to attract more industrial investments. The incentives were revealed during a ceremony in Rabat chaired by King Mohammed VI. They include tax exemption benefiting industrial companies for up to five years, […]