Tanger-Tetouan-Al Hoceima Region sees surge in investment and job creation

The Tanger-Tetouan-Al Hoceima region has experienced a significant economic boost, reporting a total investment of 40.8 billion dirhams in the first half of the year. This represents a remarkable 72% increase compared to the previous year, reflecting a surge in investor confidence and economic activity.

The influx of investment has positively impacted the local economy, resulting in the creation of 45,630 jobs across various sectors. This job growth underscores the region’s dynamic economic landscape and its capacity for sustained development.

Investments have been well-distributed across multiple industries, demonstrating balanced economic progress. Industrial developments received 54% of the total investment, showcasing the region’s strong industrial base. The tourism sector, attracting 22% of investments, remains a crucial component of the economy. Investments in mining and energy accounted for 15%, highlighting the potential of the region’s natural resources, while the trade sector received 6% of the investments, underscoring its importance to the local economy.

The majority of the new jobs created are in the industrial sector, which accounts for 83% of the total employment generated. The tourism sector contributes 7% of the jobs, with other sectors collectively accounting for 10%.

The number of approved projects in the region has also increased, indicating growing confidence in its economic potential and investment climate. Of the 433 projects reviewed by the regional investment center CRITTA, 379 received approval, amounting to an approval rate of 87.5%. Additionally, 16 investment agreements totaling 9.54 billion dirhams were approved, leading to the creation of 6,525 direct jobs. This expansion highlights the region’s commitment to fostering a supportive investment environment and its focus on both industrial and tourism development.