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Ministerial commission approves $ 215 million-worth investment projects
Morocco, Economics, 11/2/1999
The inter-ministerial investments commission, chaired by prime minister Abderrahmane Youssoufi, approved last week $ 215 million-worth investment projects expected to generate around 2,400 permanent jobs.
Two projects, involving a $ 105 million investment will be carried out in tourism (1,800 new jobs). Two other convention projects on a $ 110 million investment in metallurgy, supposed to create 600 jobs were approved under the reservation of amendments.
The commission looked into a draft decree on criteria and conditions of partial tax exemption on some expenses for important investment projects. The text means to ensure the tax exemption objectivity and mechanisms to encourage investments.
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