(MENAFN- Morocco World News) Rabat – During the meeting of the with head of the government Saad Eddine El Othmani, 48 projects were approved for a budget of MAD 32 billion for 2018. Over half of these investments were allocated to the Laayoune Sakia El Hamra region, with a rate of 53 percent.
Morocco gives a special interest to its Sahara. During the first meeting of the Investments Commission held Monday, MAD 17.18 billion were allocated to finance multiple projects in Morocco's southern regions, taking the lion's share in the investments budget issued by the Executive.
In comparison, the Rabat-Sale region was only allocated an investments envelope of MAD 4.96 billion, while the Casablanca-Settat region received MAD 5.14 billion, marking a rate of 15 and 16 percent respectively.
The region will also have the biggest number of job creation, with 2,815 new positions. Casablanca-Settat comes second with 1,822 new jobs, followed by Rabat-Sale with 591 positions.
Overall, the 48 approved projects will generate 6,190 direct jobs and 13,952 indirect jobs, explained Minister of Industry and Investment Moulay Hafid Elalamy during the meeting.
The industry sector wins over half of these approved investments at 59 percent, with a budget of MAD 18.97 billion, followed by seawater desalination units in second position with a budget of MAD 3.46 billion.
Transport and infrastructure projects, the sector with the largest job creation potential at 42.81 percent, was allocated 10 percent of the total budget.
Over 85 percent of the global investments are of Moroccan origin, compared to 12 percent resulting from joint ventures. The largest partnership in this area, linking Morocco and Spain, covers 11 percent of total investment. The remaining 3 percent is shared between Emirati and Saudi investments, with 2 and 1 percent respectively.
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