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Marrakech-Safi Regional Investment Center reveals that over 500 projects were approved in 2023 by the Regional Unified Investment Commission (CRUI).
Marrakech-Safi Regional Investment Center reveals that over 500 projects were approved in 2023 by the Regional Unified Investment Commission (CRUI). Not only did the region weathered the unprecedented storm of the devastating earthquake, but it also witnessed an unprecedented surge in investments in recent weeks, reaching a staggering record of over USD 12.1 billion in 2023, marking a remarkable 110% growth in project numbers compared to the previous year.
These projects translate to an investment amount exceeding USD 12.1 billion, reflecting a staggering 570% increase from the previous year, accompanied by a noteworthy 40% rise in job creation, accounting for over 24,000 new employment opportunities. Mohamed Amine Sabibi, the Acting General Director of CRI MS, highlighted the energy and mining sector as the standout performer in 2023. Sabibi underscored not only the sector’s prowess in extraction but also its commitment to the sustainable utilization of natural resources.
He emphasized the ambitious development program of the OCP Group, encompassing not only an increase in production capacity but also initiatives for sustainability. This includes the establishment of desalination plants and renewable energy production stations through a dedicated subsidiary focused on green activities.
In addition, Sabibi detailed upcoming wind projects, such as the Maâchate wind farm in Safi, positioned to bolster renewable energy production, enhance the region’s competitiveness, and entice more industrial investments to Marrakech-Safi. Highlighting the region’s attractiveness, Sabibi cited the announcement of the NEXANS Group’s industrial unit in Safi, with an investment exceeding 100 million dollars aimed at cable production for export..
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Looking ahead to 2024, the region is experiencing remarkable investment activities. Notable projects include the construction of solar plants in Benguérir, a comprehensive seawater desalination program, wastewater treatment initiatives in Safi and Essaouira, and the much-anticipated commencement of the construction of the Marrakech-Agadir railway line.
