Riad Mazour, Minister of Business and Commerce, confirmed that Morocco intends to double its automotive exports over the following 4 years.

And the Minister of Business and Commerce stated on Tuesday throughout a gathering of the Council of Advisors that “Morocco goals to carry the worth of the exports of the automotive business over the following 4 years to 200 billion dirhams; On the identical time, it’s anticipated that the worth of exports of the automotive business on the finish of this 12 months will attain 100 billion dirhams.

Mazwar famous that the aim of doubling auto business exports may very well be achieved, particularly since auto business exports grew by 35.5 p.c within the first 9 months.

He added: “15 years in the past we didn’t export something and our revenue was zero dirhams. Immediately, because of the imaginative and prescient of His Majesty the King and the precise intervention of His Majesty, his help and the help of this sector, we’ll break the automotive export file this 12 months as we attain 100 billion dirhams.

In the identical context, Riad Mazur confirmed that Morocco is working to extend its automotive manufacturing to 1 million automobiles, noting that right this moment we’ve got a manufacturing capability of 700,000 automobiles. Manufacturing is predicted to rise to 970,000 autos in 2025.

The Minister of Business and Commerce stated that 64 p.c of auto components are made in Morocco and that proportion is predicted to rise to 69 p.c by the top of this 12 months, stressing that the federal government goals to succeed in an integration stage of 80 p.c.

The federal government official famous that the federal government goals to succeed in an integration stage of 80 p.c to make Morocco the platform for the world’s best automotive business, including that “this can be a aim and that is an aspiration and we’re transferring in the direction of this aim rapidly.”

In keeping with Riad Mazur, the federal government can be working to make sure that producers in Morocco obtain inexperienced electrical energy at a decrease price.

And he continued: “Immediately the entire world has doubled or tripled the worth of electrical energy; However the Moroccan authorities stored the identical value for households and producers,” noting that the federal government’s aim is for producers to supply clear power at a value 30 p.c under present price.

Alternatively, Riad Mazour pressured that “Morocco is working to develop the electrical automobile business, including that our nation has a manufacturing capability of 40,000 electrical autos and we’re working to extend it to 100,000.”

As a way to preserve these features and proceed to be among the many best nations within the automotive business, Riad Mazur emphasised the significance of investing in automotive batteries, noting that “there are very constructive indicators for the federal government to speculate on this space. , and that we are going to be on time in 2024 and 2025.” With a Moroccan product that provides these batteries.”

As well as, the Minister of Business and Commerce said that “the sector employs 220,000 Moroccan skills and our aim is to create between 80,000 and 120 further jobs; That is throughout the authorities’s dedication to create 400 web jobs within the industrial sector.

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