Thirteen Investment Agreements in Sectors of Food, Pharmaceutical Industries Signed for Over MAD 1.7Bln

09 March 2022 Printable Version

Rabat - Thirteen investment agreements in the sectors of food and pharmaceutical industries were signed, Wednesday in Rabat, totaling an amount of over 1.73 billion dirhams (MAD) and generating more than 1,780 direct and 2,700 indirect jobs.

Initialed by the Minister of Industry and Trade, Ryad Mezzour, and industrial operators in the food and pharmaceutical sectors, these agreements, which are part of strengthening Morocco's food and health sovereignty, will generate an additional turnover of over 2.9 billion MAD.

Regarding the food industry, these agreements concern the implementation of 10 projects of more than 1.2 billion MAD, with more than 1,500 direct jobs and 2,400 indirect jobs expected.

As for the pharmaceutical sector, these agreements relate to 3 projects of 531.4 million MAD worth, which will create 280 direct and 300 indirect jobs.

Speaking on this occasion, Mezzour said that thanks to HM King Mohammed VI's leadership, Morocco is on track to win its bet of industrial recovery. "The sustained pace of investment generating wealth and jobs, carried, mostly by Moroccan capital, reflects the great momentum that our industries," he pointed out.

These new investments, supported and accompanied by the ministry, reflect the importance of the role played by local manufacturing as a vector of regional development, sustainable value chains and export, through diversified product lines and high added value, he argued, noting, in this regard, that "the Made-in-Morocco label is making a certain path to success."

Spread over five regions of the Kingdom, Casablanca-Settat, Rabat-Salé-Kénitra, the Oriental, Fez-Meknes and Tangier-Tetouan-El Hoceima, the 10 investment projects of the food industry, supported under the contract program for the development of food industries, fall within the industry of citrus crushing and juice production; the cookie, chocolate and confectionery; pasta and couscous; processing of fruits and vegetables and the dairy industry.

In addition to the development and industrial processing of regional and national agricultural production in citrus, milk and fruit and vegetables, these investments in the food industry are part of the strategic priorities of import substitution by local products to meet the needs of the national market in food products, especially processed cheese, concentrate and citrus juice, tomato concentrate and products of the cookie and chocolate.