In a move to boost Morocco’s economic growth and employment, the Moroccan National Investment Commission has approved 20 new projects, which are expected to create approximately 27,000 jobs.
These projects, with a total investment value of 17.3 billion dirhams (about €1.66 billion), span key sectors such as tourism, renewable energy, automotive, packaging, textiles, metallurgy, and telecommunications.
The investment commission’s approval includes both basic and strategic support projects. The basic support system alone accounts for 4.3 billion dirhams, providing around 5,500 jobs, while the strategic support system, worth up to 13 billion dirhams, will create the remaining 21,500 jobs.
The projects will be distributed across 14 provinces in seven regions, with a significant focus on sectors like tourism, which will generate the largest share of new jobs, and the automotive industry, which will follow closely behind.
- Advertisement -
Tourism plays a critical role in Morocco’s economy, contributing 7% to the country’s GDP and employing around 15% of the workforce. As of late 2024, Morocco surpassed Egypt as North Africa’s leading tourist destination, welcoming nearly 16 million tourists. The sector’s success can be attributed to favorable weather, a diverse range of tourist activities, and government efforts to enhance tourism quality, sustainability, and regional growth.
The automotive sector, another key driver of the country’s economy, also stands to benefit from the new investment. Furthermore, Morocco’s growing aerospace industry has set a new export record, highlighting the increasing global interest in the country’s industrial and manufacturing sectors.
Despite the positive developments, unemployment remains a challenge, particularly among young people aged 15 to 24, who face an unemployment rate of 39.5%. In response, the Moroccan government is prioritizing initiatives to support small and medium-sized enterprises (SMEs), especially in rural areas, through increased investment in vocational training and skill development programs.
