Mr. Mohammed BOUSSAID, Minister of Economy and Finance and Mr. Moulay Hafid ELALAMY, Minister of Industry, Trade, Investment and the Digital Economy, signed Monday, May 2nd, 2016 in Rabat, with Mr. Abdelhamid SOUIRI, President of the Federation of metallurgical, mechanical & Electromechanical industries, performance agreements relating to the ecosystems of the mechanical and metallurgical industries sector (IMM). These ecosystems involve the upgrading of the units of copper and aluminum metals, new jobs "agricultural machines and bicycles" and metal processing.
The press statement issued on this occasion stated that the launched ecosystems have to meet the challenges for the sector including the strong competition that businesses face because of the global over-capacity of steel production; the downstream development of industries; improving innovation and export; and a chronic deficit at the level of trade, of around 30%.
Thus, according to the Ministry of Industry, Trade, Investment and the Digital Economy, the implementation of the launched ecosystems will help create:
13 340 jobs;
1.7 billion dirhams of additional value added;
11 billion dirhams of additional revenue;
2 billion dirhams of investment;
2.3 billion dirhams gain in terms of trade balance.
The same source also points out that supporting the development of the (IMM) sector will include support tailored to the businesses in supporting investment through the Industrial and Investment Development Fund (FDII), easier access to land with 57 hectares for the sector, and the establishment of a training program covering all the ecosystems requirements.
The support will also include the setting up of regulations to trace the origin of the product and the transactions of ferrous scrap, regulating exports of ferrous scrap and the implementation of measures to promote local integration in major public projects.