Investments Increased the Tangier-Tetouan-Al Hoceima Region

The year 2022 has seen a spectacular increase in terms of investments in the Tangier-Tetouan-Al Hoceima region. According to figures released by local authorities, the Unified Regional Investment Commission (CRUI) approved 508 projects last year, a considerable increase of 65% compared to 2021. This is an impressive leap forward that demonstrates, once again, the attractiveness of this region, which is establishing itself day by day as the future leading industrial hub of Morocco.

The 508 projects authorized total a volume of investment of $5.2 million (53 MMDH), said the Regional Investment Center (CRI). According to the same source, these projects should generate more than 90,000 new stable jobs eventually. Moreover, what confirms the rise of this region is that the local CRI has accompanied the filing of 1,100 investment files in 2022, or about 15% of the files filed at the national level. The 508 projects approved, representing 63% of projects reviewed, place the region above the national average.

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Tangier-Tetouan-Al Hoceima Region becomes the second industrial pole of Morocco

By sector, it is obviously the industrial projects that come out on top, with 43% of approved projects. Thus strengthening the region as the second industrial pole of the Kingdom. The service sector is in second place and recorded a considerable rise, with a share of 19% of approved projects.

This positive growth is explained by the emergence of services related to industry and logistics that continue to develop to accompany the dynamics and economic growth of the region. In third place, the tourism sector continues to attract the interest of Moroccan and foreign investors and brands, with 14% of approved projects, for an investment amount of $383 million (3.9 billion dirhams) and about 2,600 jobs.

In addition, the trade sector (11% of approved projects) is increasingly taking its rightful place as a historic sector of the region. “And this, given the logistics infrastructure and geostrategic position, which the region enjoys, and which position it as a platform for world-world trade, including through the operation of the new area of economic activities to trade Fnideq, “says the CRI Tangier-Tetouan-Al Hoceima.

20 investment agreements in Tangier-Tetouan-Al Hoceima Region

The figures published by the IRC were discussed at the meeting of its Board of Directors, held on March 31. Chaired by the wali of the region, Mohamed Mhidia, this meeting was an opportunity to review the activity of the IRC. A balance sheet that highlights the enthusiasm of SMEs-SMIs for which the CRUI has examined favorably during this year, 20 investment agreements totaling more than $717,000 (7.3 million dirhams) and about 3,000 jobs eventually.

This dynamic was also recorded at the level of business creation, for which the region occupies the 2nd position at the national level, with 13,519 new businesses created by the end of 2022, or about 16% of creations recorded at the national level.

In addition, the teams of CRI-TTA have accompanied more than 4,100 project holders and SMEs / VSEs, through several innovative and convergent programs, thematic training sessions, as well as in the context of technical assistance in the completion of certain administrative procedures necessary for the exercise of their activities.

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(Featured image by stevepb via Pixabay)

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First published in LES ECO.ma, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.

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