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Economy


Tétouan's Coelma District Sparks Economic Growth with Industrial Zone Tender Launch

In a strategic move to bolster economic infrastructure and foster investment in the northern region, the Agency for the Promotion and Development of the North (APDN) has launched a call for tenders for the construction of an economic and artisanal activity zone (ZAE) in the Coelma district of Tétouan.......

Morocco's Female Workforce Faces Unprecedented Challenges: IMF Report

The International Monetary Fund (IMF) has issued a concerning report highlighting the surge in female unemployment rates across Morocco, signaling the disproportionate impact of economic hardships on women in the nation's workforce. According to the report, female unemployment in Morocco reached......

British Firm Chariot Commences Drilling at Moroccan Onshore License

British energy company Chariot has commenced drilling operations at the Loukos Onshore license in Morocco, marking a significant milestone in its exploration efforts. Chariot, based in London, holds a 75% stake in the license, with the national hydrocarbons agency ONHYM owning the remaining 25%. Chariot......

Morocco's Trade Deficit Narrows as Import Costs Drop

Morocco's persistent trade deficit is showing signs of improvement as the cost of imports declines while exports continue to rise. According to the latest figures from the Office d'Exchange (OE), the trade imbalance contracted by 14% in March 2024, with import costs falling by 4% year-over-year......

OLA Energy Morocco Expands Agreement with ExxonMobil Petroleum & Chemical BV

OLA Energy Morocco, a leading energy company in Morocco and a significant player in Africa's energy sector, announced on Monday an expanded agreement with ExxonMobil Petroleum & Chemical BV to blend Mobil-branded lubricants in Morocco. Building on their existing partnership, this initiative......

Tarfaya Port Witnesses 51% Surge in Fishing Landings

In a remarkable display of the region's thriving fishing industry, the port of Tarfaya has witnessed a staggering 51% increase in coastal and artisanal fishing landings during the first three months of the current year. According to the National Fisheries Office (ONP)'s latest report on coastal......

Collaborative Efforts to Address Mediterranean Region's Challenges

In a groundbreaking initiative, the Directors General of the Caisse des Dépôts institutions from Morocco, France, Italy, and Tunisia came together on May 2nd at the Cassa Depositi e Prestiti headquarters in Rome. Khalid Safir, Eric Lombard, Dario Scannapieco, and Nejia Gharbi convened to......

French Tax Authorities Tighten Scrutiny on Crypto Investments

The world of cryptocurrencies is about to undergo a significant shift as the French government prepares to introduce a new anti-fraud law aimed at undeclared crypto investments. This legislative move comes as authorities seek to address a growing concern: a considerable number of French crypto holders......

Advancing Development in Tinghir and Ouarzazate: Three Key Agreements

In a momentous stride towards catalyzing regional development, the Minister of Agriculture, Maritime Fisheries, Rural Development, Water, and Forests, Mohamed Sadiki, presided over the signing of three pivotal agreements between the National Agency for the Development of Oasis Zones and Argan Trees (ANDZOA)......

Mechanization and Digitalization: A Dynamic Duo for Industrial Competitiveness

In a conference organized by the National School of Public Administration (ENSA), the Minister of Industry and Trade, Ryad Mezzour, underscored the paramount importance of harmonizing mechanization and digitalization as catalysts for enhancing the competitiveness of industrial enterprises. This strategic......

Morocco's Manufacturing Renaissance Propels Export Surge

Morocco's export sector is undergoing a renaissance, driven by growth in key industries like automotive, aerospace, and electronics. This upward trajectory, along with declining imports, has narrowed the country's trade deficit, providing a significant boost to its economy. Data from the Moroccan......

Morocco's Jobless Crisis Deepens as Drought Ravages Agriculture

Morocco's unemployment rate has surged to 13.7% in the first quarter of 2024, the highest level on record. This alarming increase is due in large part to a six-year drought that has severely damaged the nation's agricultural sector. Data from the High Commission of Planning reveals a labor market......

Automotive Sales: 48,948 Units Sold by End of April 2024

New car sales in Morocco reached 48,948 units during the first four months of 2024, representing a slight decline of 0.71% compared to the same period in 2023, according to the Moroccan Association of Automotive Importers (AIVAM). In terms of segments, new registrations for passenger vehicles (PV) decreased......