Mr. Mohammed BOUSSAID, Minister of Economy and Finance, Mr. Moulay Hafid Elalamy, Minister of Industry, Trade, Investment and the Digital Economy and Mr. Hakim Abdelmoumen, President of the Moroccan Association for the industry and Commerce Automobile (AMICA), signed Tuesday, February 23rd , 2016 in Rabat, a performance contract to support the deployment of powertrain.
On this occasion, Mr. BOUSSAID stated that this industry will allow Morocco increase the level of integration of the automotive sector, which is making a decisive step forward.
In that regard, the Minister of Economy and Finance held that when the integration rate increases, the value added produced in Morocco is positively impacted, which promotes growth and employment. Mr. BOUSSAID has, thus, called for improving research and innovation. According to the press release of the Ministry of Industry, Trade, Investment and the Digital Economy, Powertrain was launched in the automotive sector, with the aim of contributing, eventually to the creation of 10,000 new direct manufacturing jobs with high added value, the generation of additional revenue of over 6.5 billion dirhams (MMDH) and a total investment of nearly 6.5 billion dirhams (MMDH).
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This source specifies that powertrain, which aims to increase the level of integration of the “Powertrain Automotive " sector by 25 points through the development of local sourcing, includes fields of iron foundry, aluminum foundry, injection moulding of aluminium parts, aluminum refining and engine machining. It should also be emphasized that its implementation will promote a more rapid development of the sector, through the emergence of pioneer crafts, the integration of the industry and the attraction of new investments.
The statement also reported that to boost the development of this sector, the necessary assistance will be provided for businesses, by supporting investment through the Industrial and Investment Development Fund (FDII), that may reach up to 30 % of the overall investment amount, enabling an easy access to land (15 ha of rental land for the industry) and supporting the competitiveness of micro-businesses and self-employed entrepreneurs.
The support will also include the establishment of an integrated training plan that meets the challenges of this industry, financial support for engine laboratories and support to the deployment of self-employed entrepreneurs’ status in the scrap metal collection.