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Morocco approves 6.7 bln USD investments projects

Xinhua, May 5, 2017 Adjust font size:

Morocco's government has approved 51 investments projects worth 6.7 billion U.S. dollars, the prime minister office said in a statement late on Thursday.

The projects will create 6,477 direct jobs, the statement said following a meeting of the Inter-ministerial Investment Commission under the chairmanship of Moroccan Prime Minister Saadeddine El Othmani.

The breakdown of investments by sector shows a strong predominance of the energy sector with 4.3 billion dollars, representing nearly two thirds of the total investments submitted to the committee, which are expected to create some 4,803 jobs.

Tourism and leisure activities hold the second position with nearly 13 percent of the planned investments, while transport sector ranks third with 8 percent of said investments.

As for financing, 90 percent of the investments projects are funded by Moroccan investors, and the rest is by partnership between local and international partners. Endit