[News] King Mohammed VI: Morocco Became a Key Industrial Hub in the Global Market

[Revo]

 

 

Rabat - King Mohammed VI has said that Morocco is now a key destination in the global market for several cutting-edge industries, including aviation and the automotive sector.

The monarch made the remarks in a message addressed to participants of the first edition of the “National Industry Day,” which kicked off on Wednesday in Casablanca.

The King attributed the country’s “significant progress” in the industrial sector to Morocco’s “political and macro-economic stability, industrial expertise, and geographical proximity to promising markets.”

Morocco’s industrial sector has managed to “carve out a place for itself in highly technical professions and specializations, thus becoming an engine for growth, production, and export,” he added.

Over the past 20 years, the North African country has opened up to the global economy and adopted “clear, ambitious strategies based on a comprehensive, sectoral vision” to boost the industrial sector, the King noted.

These strategies have proven to be fruitful as Morocco today provides an “attractive platform for the production of the equipment, components, and spare parts needed by these industries [aviation and automotive sector],” King Mohammed VI stressed.

At the same time, Morocco has strengthened its position as a “key player” in food security, notably in Africa, thanks to the country’s strong fertilizer industry, the King said.

The country has launched several initiatives to address the food security challenges facing the African continent, as well as support African farmers. State-owned OCP Group, through its subsidiary OCP Africa, has been offering farmers across Africa thousands of tonnes of phosphate-based fertilizer either for free or at a largely reduced cost.

Other industries that have witnessed considerable progress and contributed to the national economy include the fish and agriculture sector, as well as the textile and leather industry.

“These sectors not only made it possible to mitigate the impact of the COVID-19 crisis, but they also played a crucial role in strengthening our country’s industrial, health, and food sovereignty,” the King stressed.

The King’s message also addressed the current global economic crisis, which had a negative impact on Morocco and led to a surge in commodity prices. In this respect, he highlighted the pressing need for the country to achieve sovereignty and not be fully dependent on imports.

“Our industry is called upon today, more than ever, to promote local production in a competitive manner in order to reduce this dependence, enhance our resilience, increase our competitiveness, and consolidate Morocco's position in promising sectors,” the King said.
 

https://www.moroccoworldnews.com/2023/03/354744/king-mohammed-vi-morocco-became-a-key-industrial-hub-in-the-global-market