French Group to Invest USD 380 million in Morocco

The French "Accor" group said it plans to invest a total of 3.5 billion dh (around usd 380 million) in various tourism and leisure projects in Morocco.

The co-chairman of the group who held a meeting recently with Moroccan interior minister, Driss Basri, said the projects will be carried out in various Moroccan regions in partnership with Moroccan local authorities, administrations and private businessmen.

The minister assured the French group that Morocco, which is enforcing a policy to attract investments, will extend the group all the needed support to carry out its program.

In Essaouira (southwestern Morocco), the group launched construction works for a 120-room tourism compound estimated to cost 90 million dh (around usd 9.7 million).