Morocco Set to become Regional Leader in Auto Industry

Morocco’s automotive industry is expanding and moving to the top gear as the country has just signed five deals with leading manufacturers to help boost the industry, create jobs and contribute to the socioeconomique development of the North African country.

automotive-tanger1These deals were sealed during the 4th « Automotive Meeting Tanger Med », held in Tangiers (Northern Morocco) from 29th to 30th of October.

They concern four ecosystems of the automotive supply chain: wires & cables for vehicles, cars interior & seats, metal stampings and batteries

The deployment of these key ecosystems by the year 2020 will help create 56 500 jobs, increase auto exportation by 2.5 pc and improve the local industrial integration rate by 21 points.

Moroccan minister of Industry, Commerce, Investment and Ditigal economy, Moulay Hafid Elalamy, said the automotive ecosystems is innovative approach introduced by the “Industrial Acceleration Plan” (IAP) to reduce the industry fragmentation and encourage integrated development of industrial clusters.

“The aim is to integrate local industrial fabric around leading companies that develop mutually beneficial partnerships with SMEs which play the role of locomotive and give perspective and visibility to the big companies that spur creativity, innovation and dynamism”, added the minister.

For the automotive sector, the concept of these ecosystems comes as the industry has reached a stage of development that requires greater and enhanced integration to be able to face tough competition while ensuring high quality of the manufactured products.

The Ministry of Industry, Commerce, Investment and the Digital Economy has worked with local Moroccan professionals and particularly with the association of car industry (AMICA) to identify the sectors which need to be incorporated in the ecosystems before proceeding to their restructuring.

These ecosystems consist of two major industry players: suppliers and automakers.

The 4 identified priority ecosystems of the supply chain are: automotive wiring, vehicles interior & seats, metal stamping and batteries while the automakers ecosystems will bring together enterprises operating nearby industry leaders who will act as driving force and help attract more investments.

To reach these goals set out by the priority automotive ecosystems of the supply chain, five contracts were signed spelling out the commitments of both the Moroccan government and operators.

The Moroccan government pledged to contribute up to 30% in the investment of business pioneers, to give a bonus for local industrial integration, to set up a centre of studies, trials & development and to train 90,000 persons to the specific needs of the sector.

In return, the investors pledge to work and endeavour to meet the goals set by the IPA for the automotive plan, notably in terms of job creation, added value and export capabilities.

Moroccan minister of Industry, Commerce, Investment and Ditigal economy has signed Memorandum of Understandings with ACOME and ALFAGOMMA companies.

ACOME plans to build a factory for automotive wires & cables with an investment of 141.8 million dirhams. ALFAGOMMA intends to build a plant for the manufacturing of automotive hydraulic hoses for an investment of 260.5 Mdhs.

Posted by on November 5, 2014. Filed under Business. You can follow any responses to this entry through the RSS 2.0. You can skip to the end and leave a response. Pinging is currently not allowed.

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