Casablanca-Settat Receive MAD 3.5 Billion Investment

In an effort to promote investment and create jobs, the Regional Investment Commission of the Casabalanca Settat region has held three important meetings between December 9, 2016-January 6, 2017.

Under the chairmanship of Khalid Safir, Wali of the Region, the Commission believes that investing in industrial, tourist, logistical and service projects will provide a tremendous boost to the region’s economy.

The MAD 3.5 billion worth of projects approved by the Commission will take place in Berrechid, Mohammedia, Nouaceur, Settat and Sidi Bennour. Other projects will be completed in Casablanca Anfa, Ain Chock, Ben Msik, Hay Hassani and Sidi Bernoussi.

Industry accounts for more than 26% of these investments, for a total of MAD 900 million, and an estimated 16,150 jobs being generated.

These business zone projects follow the region’s vision to boost its economic attractiveness and to offer investors reception venues in line with global standards. The agribusiness industry will be equipped with another state-of-the-art structure, confirming Morocco’s national leadership in this sector.

The installation of an industrial unit in the steel industry in the Province of Berrechid has also been approved by the Commission.

Sustainable development will be represented with the completion of a green paper manufacturing unit in Settat, for an investment of MAD 329 million and the  promise of 350 jobs.

This project is the first of its kind for the Region, demonstrating the enthusiasm of investors for projects respecting Morocco’s environmental protection policies.  It is also an important indicator that industry has the support of regional public authorities for the success of ecological projects.

Tourism, which is a priority sector in the Region’s economic development strategy, accounts for 14.4% of the approved investments. As many as 400 jobs have been created thanks to the construction of a new hotel in Ain Choq with a tertiary and residential component.

Source :Morocco World News