News Agencies Feed :

    Car Industry: Morocco Seeks to Take Advantage of Opportunities Offered by the Crisis (Minister)

    06 Sep 2020

    Casablanca - Morocco seeks to take advantage of all the opportunities offered by the crisis to become the most competitive automotive hub in the world, said Minister of Industry, Trade, the green and digital economy, Moulay Hafid Elalamy.

    Stressing the need to take advantage of the global crisis, the minister said in an interview published Friday by 'Finances News Hebdo', that Morocco can become the most competitive automotive hub in the world.

    The need to rely more on oneself is also a lesson from this crisis, he said, adding that 'by trusting our forces, our country was able to increase in competence, in production and in agility in record time, despite health constraints'.

    'If we produce respirators, resuscitation beds and diagnostic kits in a few weeks, imagine what we could do over time', the minister noted, adding that Moroccan capital must take advantage of this confidence regained and invest more in the car industry.

    The minister said, in this regard, that the international context offers real opportunities for the sector.

    He also stressed that two actions are prioritized for the car industry, 'namely improving competitiveness through deep local integration, and decarbonizing the ecosystem so that it becomes efficient on the energy side and manages to maintain our export market shares.'

    'With this objective, we will continue to improve the deep integration of our ecosystems and to continue the development of Rank 1 and 2 activities', he said, noting that this deep integration will lead to more added value and a denser, and therefore more competitive, production chain.

    As for decarbonization, he noted, it represents a lever for competitiveness. 'It is inevitable if we want to maintain our market share. Otherwise, carbon taxes at the borders may neutralize our exports to Europe,' the minister added.

    Elalamy underlined the importance of investing in renewable energies. 'By directing them towards industry, we can integrate more energy-intensive jobs and reduce the energy bill of operators already installed,' said the minister.

    mapnews

    Stock Market

    Index

    Value

    Change

    Open

    MADEX

    9 209,87

    0,82 %

    9 135,23

    MASI

    11 329,76

    0,81 %

    11 238,86

    FTSE CSE

    10 269,41

    0,50 %

    10 218,62

    Contact US | © 2020 All Rights Reserved