The Tangier Tetouan Al Hoceima Regional Regional Investment Center (CRITTA) announced 433 projects and final opinions to promote investment in the region. 379 of these projects were approved, for an approval rate of 87.5%.
This figure is a significant increase compared to the previous year and demonstrates CRITTA’s confidence in the region’s economic growth potential. Total investment in the first half of this year reached 40.8 billion dirhams ($4.085 billion), an increase of 72% year-on-year.
These developments will lead to an additional 45,630 jobs, a figure that could have a significant impact on the local economy.
Looking at the distribution of investment amounts by sector, industrial projects are increasing, accounting for more than half (54%) of the total. The tourism sector ranks second with 22%, followed by energy and mining with 15% and trade with 6%. In terms of expected employment, the industrial sector is the main provider of employment, accounting for 83%.
In comparison, the tourism sector contributes only 7% of employment, and all other sectors contribute 10%. Additionally, in the first half of this year, CRI also approved 16 investment treaty projects, with a total investment of AED 9.54 billion. These projects will lead to the creation of 6,525 direct jobs, a significant increase compared to the previous year.
