The Kingdom of Morocco established a free export zone in the “Souss-Massa” region with an area of about 305 hectares. The first part will be established by 50 hectares.
According to observers, Morocco envisages targeting the sectors of the food industry, chemical and semi-chemical industries, the automotive industry, the aircraft equipment industry, the manufacture of renewable energy equipment, and the textile industry.
The government seeks through its new free export zone to attract leather, building materials, mining, mechanical, electrical, electronic and shipbuilding and plastics industries, which will provide some 24 000 new jobs.
The export free zone was established after signing a memorandum of understanding in front of King Mohammed VI at the end of last January, between the state and the council of “Souss-Massa” and “Souss-Massa” provinces on the one hand and MEDZ company of the Deposit and Management Fund (CDG) on the other hand.
This project is also part of the implementation of the industrial acceleration scheme 2014-2020, which aims to create half a million job opportunities, half of which are from foreign direct investment and the other half from the renewal of the national industrial fabric, in addition to raising the share of industry in the gross domestic product by nine points from 14% to 23%.
The export free zones in Morocco are governed by Law 94-19, and are considered as specific areas of customs territory where all export activities of a commercial or industrial nature, as well as, other activities are allowed, with exemptions from customs regulations and control of foreign trade.
#Morocco #free_export_zone #Souss-Massa
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