Industrial Acceleration Plan: 16 new industrial investment projects with a total budget of 1.4 billion dirhams and creating 4100 jobs

49% of jobs involved in the auto industry taking shape Mr. Moulay Hafid Elalamy, Minister of Industry, Trade, Investment and the Digital Economy, and Mr. Abdelouahed KABBAJ, President of the Hassan II Fund for Economic and Social Development proceeded on Tuesday 2 February 2016 to sign 16 investment contracts with industrial companies for the realisation of their projects with the support of the Hassan II fund. The total volume of the investment, amounting to more than 1.4 billion dirhams, will, by 2020, lead to the creation of 4,100 new jobs and generate an export turnover of 2.8 billion dirhams. Of the 16 projects supported by the program, 11 are in the auto sector, 4 in aeronautical and 1 in electronics. The creation or expansion investments cover various parts of the auto and aeronautical value chain (production of windscreens, manufacture of covers, automotive and aeronautical wiring, composite materials …) and reinforce the ecosystems that are deployed in these areas. Mr. Elalamy stressed on this occasion that “these new projects reflect the vitality of efficient industrial sectors currently offering real opportunities for operators, thanks to the dynamics of the Industrial of Acceleration Plan (IAP) and the deployment of ecosystems in particular, which now meet the conditions for competitiveness and performance”. Since the launch of the IAP, in April 2014, 52 investment contracts in the automotive, aerospace and electronics sectors, totalling 4.4 billion dirhams were signed with the support of the Hassan II Fund for Economic and Social Development. They will eventually create 14,110 jobs and generate a turnover of 9.84 billions dirhams. In the automotive sector, 49% of jobs involved in the first 4 ecosystems launched in October 2014, are being brought to fruition. The cooperation of the Hassan II Fund in supporting these new investment projects is very important. The leverage exercised by the Fund amounts to around 8.22 million dirhams, that is to say that 1 million dirhams contributed by the Hassan II Fund generates an investment of 8.22 million dirhams and leads to the creation of 24 permanent jobs.