Initialled by the Minister of Industry and Trade Ryad Mezzour, the Chairman of CAM’s Management Board Mohammed Fikrat, and the AMICA President Hakim Abdelmoumen, the agreement aims to provide support for companies operating in the automotive sector.
The agreement is in application of the High Guidelines of HM King Mohammed VI in his message of March 29 to participants in the 1st National Industry Day, to strengthen productive investment and support companies in order to accelerate the Kingdom’s foothold in promising sectors, create quality jobs and expand the Moroccan industry’s territorial footprint.
Indeed, the deployment of the Industrial Recovery Plan supported by the Ministry of Industry and Trade has accelerated investment in the sector, both in terms of national automotive manufacturing – 1st in Africa, with prospects of reaching the target of one million installed vehicle production capacity in the short term – and in terms of equipment ecosystems, deep integration, engineering and cutting-edge professions such as electronics. Morocco will also become an international hub for vehicle homologation to international standards.
As a result, the automotive industry has been able to achieve export growth of over 40% to the end of April 2023, with a projected export turnover of over 130 billion dirhams by the end of 2023.
The Industrial Recovery Plan has also enabled the Moroccan automotive sector to take up the major challenges of the moment, such as sustainable mobility, digitalization and Industry 4.0, and decarbonization, which in reality represent opportunities that require greater integration and deeper roots for the subsidiary.
