News"This Is America & the World" shines its spotlight...

“This Is America & the World” shines its spotlight on the Morocco factory

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This Is America & the World, a famous American program broadcast on general-interest American public service television channels, devoted an unprecedented episode to the Moroccan economy, involving Mr. Ryad Mezzour, Minister of Industry and Trade.

The famous program This Is America & the World dedicated an episode to the economy and trade of Morocco. It airs on US Public Television and the Public Broadcasting Service (PBS), a not-for-profit public television network with more than 350 member television stations in the United States.

Speaking during the program, Mr. Ryad Mezzour stressed that the Moroccan economy is based on investment and consumption, recalling that “household consumption represents 60% of GDP, while investment represents 30% of GDP. %, and that’s one of the highest numbers in the world ”.

Regarding the industry, the minister indicated that it is based primarily on global manufacturing and outsourcing, which refers to the transfer of functions from a foreign organization to Morocco. Moreover, this sector is the sixth largest provider of foreign currency before the Covid-19 pandemic. And even seems to have resisted the health crisis.

“Manufacturing is now the number one exporter in Morocco and the automobile sector is the number one export sector in our country. We have a platform which builds 700,000 cars per year, ”the Minister welcomed, stressing that the supervisory authority plans to increase very quickly to one million cars per year, and to locally manufacture 60. % of automotive spare parts.

For his part, Rachid Houari, director of Tanger Med Port & Logistics, highlighted the place of this logistics zone in exports, as a global hub and leading port in the Mediterranean and Africa.

Regarding the launch of the Kingdom’s new investment brand, “Morocco Now”, the brand’s program highlighted Morocco’s competitive industry, offering low labor costs and low costs. highly competitive containers for export, noting the opportunity offered by the country’s free trade agreements, which make it a gateway to be part of Africa’s rapid growth potential.

The Moroccan Blog
The Moroccan Blog
The Moroccan Blog is an English based newsblog dedicated to Morocco. You can find here all news from Morocco across a variety of topics: Arts & Culture, Economy & Business, Lifestyle, Moroccan Sahara, MRE, Society, Tourism & Travel and more.

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