Project Bank, Source of Opportunities for Moroccan Expatriates (Official)

The industrial project bank constitutes a source of opportunities that Moroccan expatriates are invited to seize to contribute to the economic recovery of their country, minister of Industry, Trade and Green and Digital Economy Moulay Hafid Elalamy said, on Tuesday in Casablanca.

“We have the potential to manufacture in Morocco what we import by up to 34 billion dirhams, according to our studies and our detailed analysis of 16 industrial sectors and 41 product segments, underlined Elalamy during a working session organized by the Moroccan Employers’ Association (CGEM) on investment opportunities in Morocco.

A total of 200 projects are made available to project holders, he recalled, stressing that the ministry and its partners are mobilized, through a dedicated unit, to ensure the monitoring of projects and support those with ideas.

“In February 2021, 338 projects totaling a national turnover of 20.6 billion dirhams and 14 billion dirhams for export were selected for support,” said the minister, adding that other programs are also put at the disposal of project holders to develop the “Made in Morocco”.

The unit dedicated to the project bank provides the diaspora with a contact to respond to the requests by the project holder and put him in touch with the various partner organizations, he said.

In addition, Elalamy highlighted the exemplary mobilization shown by Moroccan manufacturers and competences during the lockdown, lauding their responsiveness, agility and innovation through the manufacture of masks, respirators, an intensive care bed and other 100% Moroccan products that are both competitive, adapted to both local demand and export markets, and meeting international standards.

The industrial recovery plan focuses on strengthening industrial ecosystems through local integration and the development of competitiveness and export through decarbonation, he noted.