More than us $740 mln of investments in Morocco in first quarter of 2003

The volume of investments in Morocco in the first quarter of 2003 reached nearly US $740 million, 7.4 billion dirhams, that is the triple of the amount registered last year.

The figure was disclosed by delegate minister in charge of economic and general affairs and economy upgrading, Abderazzak El Mossadeq, in an interview in Moroccan TV channel TVM.

These investments will generate 9,000 jobs, he said, adding US $552.000-worth projects were approved by the governmental investment commission which will create about 5,500 jobs.

The amount includes 20 small and medium projects, half of which will be partly funded by Hassan II fund for economic and social development, he said, adding that there are other important projects in industry, electronics and scientific research.

He noted that a large project will be implemented and will employ 500 engineers which is an "irrefutable proof that foreign engineers trust Morocco's cadres, particularly in scientific research."