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Morocco vows sharp enhancement of jobs and GDP by 2020

Xinhua, July 5, 2016 Adjust font size:

Morocco aims to create 500,000 new jobs and substantially increase share of industry in GDP by 9 points to reach 23 percent by 2020, minister announced on Tuesday.

Moulay Hafid Elalamy, Minister of Industry, Trade, Investment and Digital Economy, made the announcement during the launching ceremony of a new investment reform plan and the signing of agreements for the creation of some 30 new factories.

The new factories will create 39,000 jobs with a total investment of 750 million U.S. dollars, he said.

He noted that these deals are part of the 2014-2020 Accelerated Industrial Plan which has already created 160,000 jobs over the last 2 years.

The new investment reform plan, the minister revealed, would revolve around six main areas providing support and incentives to investment in the country as well as promoting reform of industry and commerce. Endit