Category: Press Releases

Dallas – The Minister Delegate in charge of Investment, Convergence and Evaluation of Public Policies, Mohcine Jazouli, highlighted, Tuesday in Dallas, the main assets that make Morocco an attractive destination for investments.

‘Bolstered by His Majesty King Mohammed VI’s visionary long-term outlook, Morocco has gained extensive experience and earned robust international credibility on this front’, the Minister Delegate said during a high-level roundtable co-organized by the pan-African infrastructure investment platform ‘Africa50’ as part of the US-Africa Business Summit (May 6-9).

He underlined that Morocco over the past 25 years has made resolute choices in favor of Africa, economic openness and also in favor of investing in infrastructure that is built to the best international standards.

During this meeting held under the theme ‘African Infrastructure Investment: Impacts and Returns’, Jazouli noted that thanks to these initiatives, Morocco today leads Africa in automotive, aerospace, and textile indu
stries, and ranks second in pharmaceuticals and outsourcing.

Moreover, the development of big projects related to renewable energies, coupled with His Majesty the King’s forward-thinking vision, now places Morocco at the forefront of global energy transition, he said, adding that the economic future of the Kingdom is being written in green ink.

The Minister Delegate further pointed out that Morocco is experiencing a significant surge in private investment, particularly in sustainable initiatives such as electric mobility and green hydrogen technology.

‘This influx of private investment has surpassed expectations, leading to new demands for green infrastructure: renewable energy, electrical grid, seawater desalination, airports, ports, and more’, he indicated.

He also affirmed that the flagship events that the Kingdom will host such as the co-organization of the FIFA World Cup in 2030 underscore the need for green infrastructure including schools, universities, hospitals, stadiums, high-speed trains and be
yond.

Referring to the sources to finance these large-scale projects, the Minister Delegate said that Morocco has established an attractive regulatory framework for investors, offering fiscal incentives and guarantees for strategic infrastructure projects. ‘We have forged unprecedented public-private partnerships, leveraging diverse and sophisticated vehicles to mobilize resources and balance risks. This makes possible public-private partnerships that were unimaginable just a few years ago, in unprecedented domains both in Morocco and internationally’, he continued.

Jazouli recalled that the Kingdom has recently initiated the development of a 1500 km electric transportation line connecting Dakhla in the southern region of the country, leveraging the best combination of wind and solar energy worldwide, to the north, where industrial consumption hubs are located.

Additionally, the Mohammed VI Sovereign Investment Fund, with an initial public capitalization of $1.5 billion, aims to raise at least three times
more in private capital, he added, saying that the Fund’s mandate includes stimulating Morocco’s equity market with notable entities like Africa50, yet harboring considerable potential for growth.

During the meeting, the Minister Delegate reaffirmed Morocco’s unwavering commitment to Africa’s infrastructure development, recalling that many Moroccan companies participate in this dynamic across the continent.

He concluded by indicating that Africa must trust Africa as emphasized by His Majesty King Mohammed VI.

Source: Agence Marocaine De Presse

Ramallah – Ma’an – The Ministry of National Economy said that the Ministry’s consumer protection crews seized 17 tons of expired materials that violated mandatory technical instructions, most of them non-national, during the month of April.

The Ministry of Economy explained in a statement today, Wednesday, that its crews violated 62 merchants for trading in expired materials, manipulating prices, and not advertising them on goods, and seized 17 tons of violating materials.

The crews also dealt with 46 complaints that centered around the high prices of some goods and their failure to advertise the products displayed in stores.

The Ministry approved 25 statement cards, which include basic data for packaged and sold products, and food, calling on citizens to report violators via the number 129.

The Ministry stated that 315 inspection tours were carried out, during which more than 2,600 facilities were visited to ensure the authenticity and safety of goods.

Source: Maan News Agency

Bethlehem – Ma’an – Oil prices continued to decline in trading today, Wednesday, and the price of a barrel of Brent crude fell below the level of $82 for the first time since last March 13.

By 11:47 Moscow time, global Brent crude futures contracts fell by 1.4% to $81.97 per barrel, thus recording global crude futures at the lowest level since last March 13.

While US crude contracts fell by 1.5% to $77.19 per barrel, according to trading.

The decline came after data indicated an increase in US crude inventories, and a report by the American Petroleum Institute revealed that crude oil inventories in the United States rose by 509 thousand barrels during the past week.

Source: Maan News Agency

Bethlehem Together – The dollar was trading this morning at 3.7 shekels, a level about 0.5% lower than the level at which the dollar was trading yesterday.

The euro fell by about 0.7% and is trading at 3.98 shekels, and the pound sterling fell by about 1% to 4.625 shekels.

The Hebrew websites reported, ‘The restraint shown by the Israeli army at the entrance to Rafah, as well as the exit of the Israeli delegation to the negotiations in Cairo with the blessing of Benny Gantz on the way to reaching an agreement, spread optimism in the foreign exchange market – and from here we see the dollar weakening for the second day in a row.’

Source: Maan News Agency