Essaouira Unveils MAD 1.1 Billion to Promote Investment

A series of investment projects, estimated to be worth MAD 1.135 billion, were launched Tuesday in Essaouira on the occasion of Investor Day.

The MoUs relating to these projects were signed by the HM the King’s Advisor and Chairman of the Foundation for Research, Development and Innovation in Science and Engineering (FRSDISI) André Azoulay, Minister of Health and Social Protection Khalid Ait Taleb, Minister Delegate to the Head of Government in charge of Investment, Convergence and Evaluation of public policies Mohcine Jazouli, Secretary-General of the Ministry of Industry and Commerce Taoufik Moucharaf, and representatives of the companies involved.

These projects, which cover several sectors, aim to boost the province’s economic development, create new job opportunities and enhance Essaouira’s attractiveness as a strategic investment destination.

The first MoU provides for creating a medical equipment unit by CONMEDIC Group, with an investment of MAD 314 million and expects to create 224 jobs, while the second document covers Mogador Pharma’s MAD 300 million investment in a production plan of pharmaceutical products.

In the third MoU, GIGALAB will invest MAD 120 million to build a production plant of tests and assembly of laboratory equipment. For its part, GOLD COSMETIC will invest MAD 51 million in a plant to process aromatic and medicinal plants for cosmetic, health and pharmaceutical use, as part of the fourth MoU.

Concerning the fifth MoU, LC2A will develop an integrated project involving specialized medical biology and anti-doping laboratories, with an investment of MAD 300 million, while the sixth MoU provides for a MAD 50 million investment by EMOVE VEHICLES COMPANY (eMVC) to set up an industrial unit to manufacture electric vehicles.

Essaouira Investor Day aims to be a dynamic and interactive platform, encouraging the emergence of new investment opportunities and contributing to the economic reach of the Marrakech-Safi region.