Morocco Archives - Page 2 of 4

SOUTH KOREA FIRM OPEN NEW INDUSTRIAL PLANT IN MOROCCO

Posted on May 5, 2023 by Gambeta News

Morocco continues to attract international actors in the automotive industry, with South Korean manufacturer SJM Flex opening a new industrial plant in Tanger Automotive City on Thursday. Officials from SJM and the Tanger Med Group attended the inauguration of the plant, which covers an area of 4,800 square meters. The plant is set to hire 250 people and increase the rate of local integration. SJM Flex has invested MAD 90 million ($9 million) in the…

MOROCCO TO EXPORT WATER DEMANDING CROPS DESPITE WORST DROUGHT

Posted on April 24, 2023 by Gambeta News

Morocco has been facing its worst drought in over three decades, but still, the country continues to overproduce and export water-demanding crops. Ahead of the summer months, when even less rainfall is expected, the coming dry season may lead to an increase in water stress in the country. And, Morocco is not alone. Across the Maghreb region, there have already been reports of severely dry conditions in early 2023. The increase in frequency and intensity of…

SPAIN AND MOROCCO AGREED TO RELAUNCH TUNNEL PROJECT LINKING BOTH NATIONS

Posted on April 12, 2023 by Gambeta News

Spain and Morocco have committed to stepping up efforts to relaunch the tunnel that seeks to link the two countries under the Strait of Gibraltar. “After fourteen years, from Tangier in October 2009, we are going to give impetus to the studies of a project of maximum geostrategic importance for our countries and foliations between Europe and Africa,” said Raquel Sanchez, Spain’s Minister of Transport, Mobility, and Urban Agenda. The minister made her remarks alongside…

HOW MOROCCO REAL ESTATE MARKET IS SLOWING DOWN DUE TO LACK OF DEMAND

Posted on February 27, 2023 by Gambeta News

Morocco’s real estate market is slowing down amid the ongoing financial shocks and plummeting demand. At the end of the fourth quarter of 2022, Morocco’s real estate index dropped by 0.7% compared to the previous quarter, according to a new report from Morocco’s central bank, Bank Al-Maghrib (BAM). The country’s real estate market has been taking a downward trajectory since 2017. The drop in the real estate index is primarily the cause of a 1.3% price decrease…

MOROCCO DAMS REACHED 97.3M CUBIC DUE TO LAST YEAR WATER DROUGHT

Posted on February 21, 2023 by Gambeta News

In the Marrakech-Safi region, water reserves reached 97.3 million cubic meters, with a filling rate of nearly 49%, up from 36% a year earlier. After last year’s severe drought, the dams’ filling rate in Morocco reached nearly 33%, equivalent to 5.2 billion cubic meters as of February 20. The filling rate remains largely stable compared to the same period last year, according to a statement from the Directorate General of Hydraulics quoted in converging media…

AFDB ANNOUNCED APPROVAL TO STRENGTHEN MOROCCO WATER RESOURCES

Posted on February 14, 2023 by Gambeta News

The African Development Bank (AfDB) announced the approval of a €201,000 grant to help and support technical assistance for the design of dams, river development as well as inter-basin interconnection studies in Morocco. The grant from the bank’s Technical Assistance Fund for Middle-Income Countries was approved in December 2022, the bank said in a statement. The project seeks to benefit the “entire Moroccan population, ” the bank said, stressing that the first component covers the provision…

TANZANIA AND MOROCCO SIGN DEAL TO BUILD FERTILIZER FACTORY

Posted on February 8, 2023February 9, 2023 by Gambeta News

Tanzania and Morocco have reportedly made significant progress in deepening their ties and are set to finalize the process of obtaining a “title deed” for the establishment of a fertilizer factory in the municipality of Kisarawe. Reporting on February 7, Tanzanian news outlet the Citizen quoted Tanzania Fertilizer Company (TFC) general manager, Samuel Mshote, as saying: “As soon as we get the title deed, construction will start immediately. The construction of a facility on the 15-hectare land…

HOW MOROCCO’s GREEN ENERGY PRODUCTION CAN DECARBONIZE EUROPEAN ECONOMY

Posted on January 24, 2023 by Gambeta News

Morocco has the potential to decarbonize the European economy, Morocco’s Delegate-Minister of Investment, Convergence and the Evaluation of Public Policies Mohcine Jazouli said. Speaking on the sidelines of Davos 2023 in Switzerland, Jazouli told Euronews that Morocco’s capacity to produce renewable solar and wind power, “will allow us to decarbonize the European economy.” The minister was attending as part of the Moroccan delegation at the event that took place between January 16 and 20. Jazouli is not…

MOROCCO AND SPAIN AGREE TO DEVELOP PORT OF HUELVA TO BOOST TRADE

Posted on January 13, 2023 by Gambeta News

The port of Huelva, one of the most important in Spain, and the National Single Window of Foreign Trade Procedures of Morocco (PORTNET) signed, Wednesday, a protocol of action for the study and potential development of the processes of digitization of maritime port chains. The objective of the protocol, signed by president of the Port Authority of Huelva, Pilar Miranda, and Director General of PORTNET, Youssef Ahouzi, is to facilitate the study and potential development…

MOROCCO TO INVEST €50M TO ESTABLISH PLANT TO PRODUCE LOCAL CARS

Posted on December 29, 2022 by Gambeta News

Morocco is set to invest €50 million to establish a plant to produce local car brands. The factory will be made with a 100% Moroccan investment, Morocco’s Minister of Trade and Industry Ryad Mezzour said in a recent interview. Through the plant, Morocco is set to produce approximately 3,000 cars per year. The number is set to reach 20,000 units within four years. The project is part of Morocco’s approach to boosting the automotive sector….

EUROPEAN UNION TO SIGN MoU WITH MOROCCO TO ACCELERATE ENERGY TRANSITION

Posted on November 30, 2022 by Gambeta News

The European Union has reported plans to sign a memorandum of understanding (MoU) with Morocco on the supply of critical raw materials to accelerate the energy transition. A recent report on the Africa-EU Green Energy Initiative that is part of the Global Gateway Investment Package noted that the union has signed an MoU on critical raw materials with Namibia on the sidelines of COP 27 in Egypt. Other signings with Morocco, Uganda, South Africa, Rwanda, Senegal, Zambia,…

MOROCCO TOURISM INDUSTRY SURPASSED GLOBAL LEVEL

Posted on November 16, 2022 by Gambeta News

In the post-Covid-19 era, governments worldwide are working to revitalize the tourism industry. Morocco’s tourism, a critical sector of the country’s socio-economic development, is now bouncing back, with a recovery rate of nearly 80%. Answering questions at the House of Councillors, Morocco’s Minister of Tourism, Handicrafts, and Social Economy Fatima Zahra Ammor highlighted that Morocco’s tourism recovery rate reached 80% at the end of October 2022 exceeding the global level, which stands at 70%. Ammor also noted…

MOROCCO AUTOMATIVE EXPORT INCREASED BY 34.9%

Posted on November 3, 2022 by Gambeta News

The volume of Morocco’s automotive exports reached MAD 77.7 billion ($7.11 billion) during the first nine months of 2022. The number represents an increase of 34.9% compared to the same period in September 2021, according to new statistics from Morocco’s exchange office. The increases concern the sale of car parts, and cables (56.2 % and 20.8%, respectively). The data shows that exports of automotive interior parts and seats remained “almost stable.” The automotive sector is one of…

NIGERIA-MOROCCO GAS PIPELINE TO BOOST NORTH WEST AFRICAN ZONE

Posted on September 3, 2022 by Gambeta News

Amina Benkhadra, general director of the National Hydrocarbons and Mines Office (ONHYM), outlined the importance of the Nigeria-Morocco gas pipeline and its potential contribution to the emergence of an integrated North West African zone. Speaking during a panel as part of the second conference of member countries of the sedimentary Basin, dubbed the “MSGBC Oil, Gas & Power” conference on Thursday in Dakar, Benkhadra emphasized that the Morocco-Nigeria gas pipeline is a “structuring project with…

WORLD BANKS LIST MOROCCO AS HIGH LEVEL OF EXPOSURE TO CLIMATE DISASTER

Posted on August 17, 2022August 17, 2022 by Gambeta News

World Bank (WB) says that Morocco is among countries with a high level of exposure to climate disasters. The statement was made during the recent climate resilience program. According to reports from the World Bank, climate-induced disasters including floods, earthquakes, and drought currently cost Morocco more than half a billion every year. As the world descends into the fallout of climate change, Morocco is set to experience more severe adverse weather events at a higher frequency,…

CONSTRUCTION OF MOHAMMED V1 TANGIER TECH CITY PROJECT ON TRACK IN MOROCCO

Posted on July 27, 2022 by Gambeta News

Chinese companies and representatives from Morocco’s public and private sectors signed in Rabat an agreement to launch the construction of the Mohammed VI Tangier Tech City project, a smart city ambitious project that King Mohammed VI launched in 2017. The smart city, which is expected to be completed by 2027, will host nearly 200 Chinese companies, to create a “sustainable, integrated, and intelligent industrial city,” Morocco’s Ministry of Industry and Trade said in a statement. Other Chinese…

USTDA GRANTS TO TRANSFORM MORORCCO POWER DISTRIBUTION

Posted on July 22, 2022 by Gambeta News

The U.S. Trade and Development Agency (USTDA) awarded today a grant to Marrakech’s electricity and water distributor (RADEEMA) for a feasibility study that aims to transform the power distribution facility into a smart grid. Africa Climate Solutions, a Washington-based sustainable development firm, is set to conduct the study for Morocco’s unprecedented project, which will serve as a model for other Moroccan cities, USTDA said in a press release. The project seeks to reduce RADEEMA’s technical and non-technical…

UNIDO AND OCP TO PARTNER FOR GREEN HYDROGEN BUILDING CAPACITY IN MOROCCO

Posted on June 1, 2022 by Gambeta News

UNIDO and OCP Group, a global leader in phosphate-related industries, have reiterated interest in strengthening and expanding cooperation to produce green hydrogen and ammonia while focusing on capacity-building in Morocco and other African countries. The Director-General of the United Nations Industrial Development Organizations (UNIDO) Gerd Muller and CEO of OCP Group Mostafa Terrab discussed today OCP Group’s sustainable industrial development approach. They called for expanding partnerships in the fields of sustainable agriculture, agribusiness, training, research, and development…

TWO MAJOR PROJECTS WILL BECOME LARGEST GAS DEVELOPMENT UNDERTAKEN IN MOROCCO

Posted on March 22, 2021 by Gambeta News

Rabat – Morocco’s latest gas projects move the country “closer to unlocking [its] domestic gas riches,” according to Global Data, an international data analytics and consulting company. GlobalData’s latest report, “Morocco Exploration & Production,” reveals that Morocco has almost 700 billion cubic feet of gas reserves sitting in developments. Two recent projects, Tendrara, and Anchois, could help the country achieve gas extraction at 70 million cubic feet per day (MMCFD) within the next five years. While Tendrara can…

MOROCCO AND DR CONGO SIGN AGREEMENT FOR COOPERATION IN ELECTRICITY REGULATION

Posted on January 25, 2021 by Gambeta News

The National Electricity Regulatory Authority of Morocco (ANRE) and the Electricity Regulatory Authority (ARE) of the Democratic Republic of Congo (DRC) signed Friday in Rabat a cooperation agreement to promote the exchange and transfer of experience in electricity regulation. Initialed by AER president, Abdellatif Bardach, and his DRC counterpart, Louis Kahindo Boya-Bozene, the agreement focuses mainly on establishing the basis for cooperation between the two parties in the framework of their missions of regulation of…

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