Moroccan public officials and companies spearheading projects, primarily in the pharmaceutical and automotive industries, signed six memoranda of understanding on Tuesday allocating 1.135 billion MAD to boost local development in the coastal city of Essaouira.
At the “Essaouira Investor Day” signing ceremony, André Azoulay, Royal Advisor and President of the Foundation for Research, Development, and Innovation in Science and Engineering (FRDISI); Morocco’s Minister of Health and Social Protection, Khalid Ait Taleb; Minister Delegate in charge of Investment, Convergence, and Evaluation of Public Policies, Mohcine Jazouli; Secretary General of the Ministry of Industry and Trade, Taoufik Moucharaf; and various company representatives signed the agreements which will create new jobs opportunities and enhance the province’s attractiveness as a strategic investment destination.
The first agreement involves CONMEDIC Group establishing a medical equipment and device manufacturing unit with an investment of 314 million MAD. The company plans to create 224 jobs.
The second partnership is with Mogador Pharma, which will invest 300 million MAD to build a facility for pharmaceuticals, medical devices, and dietary supplements. It is expected to generate 200 jobs.
The third agreement with GIGALAB involves a 120 million MAD investment to establish a laboratory equipment testing and assembly plant. The project is expected to create 185 jobs.
The fourth memorandum with GOLD COSMETIC SARL will invest 51 million MAD to establish a plant for processing aromatic and medicinal plants for cosmetic, health, and pharmaceutical use, creating 70 jobs.
The fifth partnership with LC2A involves an integrated project to build specialized medical biology analysis laboratories, with an investment of 300 million MAD expected to create approximately 140 jobs.
The sixth MoU with eMove Vehicules Company will invest 50 million MAD in a new industrial unit for manufacturing electric vehicles. The project is expected to create about 69 jobs.
“Essaouira Investor Day” serves as a dynamic and interactive platform fostering new investment opportunities and contributing to the economic growth of the Marrakech-Safi region.