AGP Executive Report

Investment Push: Morocco’s 2027 budget draft puts purchasing power and social protection first, while the CGEM has relaunched an industrial project bank to steer private investment toward local production and import substitution. Fertilizer Supply: A 30,000-tonne ammonia cargo has opened a direct China–Morocco shipping route, offering OCP another supply channel as raw-material costs rise. Automotive: OPmobility has opened its fourth Moroccan plant in Kenitra, expanding local production of vehicle body parts. But a proposed EU “Made in Europe” deal would reserve some incentives for vehicles and components made outside Morocco’s current eligible zone, a risk for the Kingdom’s export-heavy sector. Logistics: Hapag-Lloyd will add a China–Tanger Med service in November, strengthening links to Asian suppliers and onward West African markets. Tourism: Morocco plans 60,000 hotel beds ahead of the 2030 World Cup; the sector already generated 7.5% of GDP in 2025. Qatar-backed plans for a $239 million green aviation fuel plant in Nador would add another major industrial investment.

Green Aviation Fuel: Qatari-backed Green Sky Capital plans a $239 million plant at Nador West Med, targeting up to 200,000 tonnes of sustainable aviation fuel a year from waste oils. The EBRD is considering up to $105 million in financing. Automotive Manufacturing: France’s OPmobility opened its fourth Moroccan plant in Kenitra, adding more than 100 jobs and bringing its local workforce above 1,400. Market Oversight: Morocco’s Competition Council reported 190 merger decisions in 2025, up more than 17%, and over MAD 43 million in penalties. Its Glovo settlement requires an end to exclusivity clauses and caps on merchant commissions. Rail Infrastructure: French group NGE won a $44 million contract for civil works on the Kenitra–Marrakech high-speed rail extension. Renewable Energy: Morocco launched a tender for 350 MW of solar projects under the Noor program.

Clean Fuels: Qatar-based Green Sky Capital plans to invest $239 million in a Nador West Med plant producing up to 200,000 tonnes of sustainable aviation fuel a year. Rail & Infrastructure: French contractor NGE won a $44 million deal for civil works on the Kenitra–Marrakech high-speed rail extension, part of Morocco’s push to improve connections ahead of the 2030 World Cup. Economic Agenda: The new government is targeting 5% average annual growth through 2031, with stronger domestic production, more private investment and public debt falling to about 62% of GDP. It also plans tighter controls on procurement and a requirement for contractors to direct 30% of contract value to Moroccan SMEs. Power & Water: Morocco opened a tender for at least 350 MW of solar projects and issued 11 dam tenders worth more than MAD 339 million; talks with Finland also focused on water and waste management. Tourism: The country’s hotel pipeline has reached 75 projects as investment gathers pace ahead of the World Cup. Competition: The Competition Council reported 202 decisions and opinions in 2025, including more than MAD 43 million in fines and action on restrictive food-delivery platform terms.

Renewable Energy: Morocco has opened a tender for four to six solar plants totaling at least 350 MW across five regions, with operations expected by late 2028. Tourism Investment: Pickalbatros secured $250 million from IFC and Attijariwafa Bank to upgrade Casablanca hotels and expand in Morocco ahead of the 2030 World Cup. Trade: Morocco’s trade deficit hit a record MAD 352 billion as imports outpaced exports; 2025 imports reached MAD 822 billion. Aerospace: Safran is expanding its Temara site to meet rising demand, while its Aïn Atiq plant expansion is set to create 400 jobs. Infrastructure: Morocco’s rail development plan targets $13 billion in investment by 2030.

Government & Investment: Aziz Akhannouch has handed power to Fatima Ezzahra El Mansouri, Morocco’s first woman prime minister. The 2027 budget prioritizes purchasing power and allocates MAD 25 billion to regional development. Trade: The merchandise deficit hit a record MAD 352.3 billion in 2025, as imports rose 8% to MAD 822.3 billion, far outpacing export growth. Tourism: Pickalbatros secured $250 million from IFC and Attijariwafa Bank to acquire and upgrade hotels, aiming to reach 7,000 rooms in Morocco by 2030. Industry & Technology: Morocco created a dedicated AI ministry, while drugmaker Sothema won approval for three cannabis-based epilepsy medicines. Safran is also expanding its Aïn Atiq plant, with 400 jobs planned. Energy & Water: Morocco opened prequalification for 350MW of solar projects and launched 11 dam tenders worth more than MAD 339 million.

Trade: Morocco’s merchandise deficit reached a record MAD 352.3 billion in 2025 as imports rose 8% to MAD 822.3 billion, outpacing 3% export growth. Defence Technology: The US Army plans to test up to 15 counter-drone systems in Tan-Tan during 2027, with the goal of getting validated equipment to troops within 180 days. Budget & Development: The 2027 budget plans MAD 25 billion for regional development; the government forecasts 4.7% economic growth in 2026 and a deficit of 3% of GDP. Water Infrastructure: Morocco has tendered 11 dam projects across eight provinces, worth more than MAD 339 million. Pharmaceuticals: Sothema won approval for three cannabis-based epilepsy medicines developed with the Mohammed VI Foundation for Sciences and Health; launch dates and prices have not been disclosed.

2027 Budget: King Mohammed VI approved plans to direct MAD 25 billion to integrated regional development, with priorities including purchasing power, youth employment and strategic sovereignty. The government forecasts 4.7% growth in 2026. Water Infrastructure: Morocco issued 11 dam-construction tenders worth more than MAD 339 million across eight provinces. Digital Transformation: Morocco created its first AI-focused ministerial portfolio, naming Ahmed Rahhou to lead artificial intelligence, digital transformation and administrative reform. Pharmaceuticals: Sothema won approval for three cannabis-based epilepsy medicines developed with a Moroccan health foundation; launch dates have not been announced. Industrial Policy: Spanish MEPs proposed extending planned EU “Made in Europe” benefits to trade partners such as Morocco, potentially supporting Moroccan automotive supply chains. The proposal still needs approval. Trade: Morocco’s 2025 trade deficit widened 15.5% to MAD 352.3 billion as imports reached MAD 822.3 billion, outpacing export growth. Skills: Morocco’s civil aviation academy and UK’s Lincoln College signed a partnership covering aviation training, engineering and applied research.

New Government: Morocco’s new cabinet gives Industry Minister Ryad Mezzour a broader brief covering trade, investment and economic inclusion, while a dedicated AI ministry targets $10 billion in economic gains by 2030. Fouzi Lekjaa takes charge of finance and public-sector performance. Aerospace Jobs: Safran Electrical & Power is expanding its Aïn Atiq plant, with 400 jobs planned as demand for aeronautics grows. Infrastructure and Energy: CMA Terminals has completed an equity investment in Nador port, while Morocco has begun prequalifying bidders for 350MW of solar projects. The government has also set out a $13 billion railway investment plan through 2030. Agricultural Innovation: Researchers in Morocco and the UK report that microwave imaging detected hidden red palm weevil pupae inside a real palm trunk with about 93% localization accuracy in controlled tests, offering a potential tool against a destructive pest.

Government and Industry: Ryad Mezzour keeps the industry portfolio, now expanded to include trade, investment and economic inclusion. Morocco has also created an AI-focused ministry, with a target of $10 billion in added GDP by 2030. Industrial Competitiveness: Dacia Romania’s chief says energy costs at Renault’s Moroccan plants are less than half those in Romania, highlighting a key cost advantage. Aerospace: Safran expanded its Temara site by 5,700 square metres to support aircraft electrical systems production; a separate Ain Atiq expansion is expected to create 400 jobs. Ports and Rail: CMA Terminals completed its equity investment in Nador port, while Morocco plans around $13 billion in railway investment by 2030. Clean Energy and Water: Morocco opened prequalification for 350MW of solar projects, and OCP’s maintenance arm partnered with Greece’s Sychem to service desalination plants. Battery Manufacturing: Gotion is preparing to launch a $1.3 billion battery gigafactory in Kenitra, a major step toward building a local EV supply chain.

Water & Industry: OCP Maintenance Solutions and Greece’s Sychem have launched a 12-month partnership to improve desalination plant upkeep, train Moroccan staff and explore a specialist centre in Morocco. Hospitality: Pickalbatros secured $250 million from IFC and Attijariwafa Bank for hotel acquisitions and upgrades, including properties in Casablanca, Marrakech and Agadir. Manufacturing: FEBO Group opened an engineering-polymers subsidiary in Tangier, targeting automotive, electronics and appliance makers. Gotion plans to launch Morocco’s first battery gigafactory in Kenitra the week of October 20. Aerospace: Safran’s Aïn Atiq plant expansion is set to create 400 jobs; Marrakech Airshow agreements also include new industrial investment and local sourcing initiatives. Infrastructure: Morocco’s rail development plan allocates $13 billion through 2030. Mining & Growth: Aya Gold & Silver reported record third-quarter output at Zgounder, while HCP projects 4.7% economic growth in Q4 2026.

Advanced Materials: Italy’s FEBO Group has opened a Tangier Free Zone subsidiary to supply engineering polymers to Morocco’s automotive, electronics, lighting and appliance sectors. Economic Outlook: Morocco’s growth is forecast to reach 4.7% in the fourth quarter, supported by agriculture, services, domestic demand and infrastructure investment. Aerospace Jobs: Safran is expanding its Aïn Atiq plant, with 400 jobs expected. Transport Investment: Morocco plans to invest $13 billion in rail development by 2030. Phosphate Industry: OCP is moving to take full ownership of EMAPHOS, a producer of purified phosphoric acid used in food, pharmaceutical and battery markets.

Aerospace: Safran has expanded its Aïn Atiq plant by 5,700 square metres, adding capacity for new aircraft programmes and paving the way for 400 jobs. Phosphates: OCP is seeking investors for its Mzinda fertiliser hub as higher sulphur costs slow development, and plans to buy out its European partners in purified phosphoric acid producer EMAPHOS. Energy: A tanker carrying 40,000 tonnes of Russian diesel is heading to Morocco, the first reported shipment under a new export agreement. Infrastructure: Morocco’s railway investment plan targets $13 billion by 2030. Aviation manufacturing: The Marrakech Airshow closed with 26 agreements, including plans for a Safran engine-components facility and a sustainable aviation fuel plant.

Rail Investment: Morocco plans to spend MAD 134 billion ($13.5 billion) by 2030 to extend high-speed rail to Marrakech, connect Nador West Med port and buy 168 trains. Growth Outlook: HCP forecasts 4.7% growth in Q4, led by agriculture and services, with infrastructure investment supporting demand; structural unemployment remains a challenge. Phosphates: OCP plans to take full ownership of EMAPHOS, expanding its specialty phosphates business and production of purified phosphoric acid used in fertilizers, food and pharmaceuticals. Aerospace: Safran has inaugurated an extension to its Moroccan facility, adding to the country’s growing aviation manufacturing base. Electric Vehicles: Gotion is set to launch Morocco’s first battery gigafactory in Kenitra next week, while a separate $117 million Chinese industrial project has shifted from Slovakia to Morocco.

Phosphates: OCP Group plans to buy its partners’ stakes in EMAPHOS, giving it full ownership of the Jorf Lasfar purified phosphoric acid producer and expanding its specialty-products business. Mining: Aya Gold & Silver reported record third-quarter output of 2.03 million silver-equivalent ounces, up 51% year on year, as Zgounder production and processing rates rose. Aerospace: Airbus is planning a new Moroccan manufacturing facility and a helicopter maintenance hub to serve West Africa, building on its existing local operations. Battery Manufacturing: Gotion is due to launch its $1.3 billion Kenitra gigafactory the week of October 20, a major step for Morocco’s battery ambitions. Investment: A Chinese industrial group is transferring a $117 million project from Slovakia to Morocco, while Inkas is in advanced talks to build an armored-vehicle and drone plant. Public Finance: The IMF praised Morocco’s fiscal consolidation, while urging the government to protect vulnerable households as energy costs rise.

Industrial Investment: Canadian defense firm Inkas is in advanced talks to build an armored-vehicle and drone plant in Morocco, likely near Casablanca. The investment could reach 300–400 million dirhams. Manufacturing: China’s Hangyu Technology is moving a $117 million forging project from Slovakia to Tangier Tech City, citing clearer investment procedures in Morocco. Digital Infrastructure: UK-based FiveNines will help develop a 20 MW AI data center near Casablanca, part of a planned sovereign computing platform. Batteries: Gotion plans to launch Morocco’s first battery gigafactory in Kenitra the week of October 20. Aerospace: Airbus is preparing to expand its Moroccan operations, including a new design unit, while Safran plans an aircraft-engine oil-systems plant. Industrial Policy: King Mohammed VI called for stronger investment in industry, energy and food security, with private-sector job creation and wider sharing of growth among the priorities.

Aerospace: Airbus is preparing upgrades at its Moroccan plants, including a design unit, as it expands production in the country. Electric Vehicles: Gotion plans to launch a battery gigafactory in Kenitra the week of Oct. 20, a major step for Morocco’s EV supply chain. Industrial Policy: King Mohammed VI urged businesses to invest, create jobs for young people and help advance industrial, energy, water and food-security strategies. Defense Manufacturing: UAE-based EDGE will supply precision weapons and pursue local production of small arms and aeronautical propulsion systems. Agriculture: Global blueberry output is growing faster than demand, raising the risk of lower prices in 2027 for Moroccan growers; agritech startup YoLa Fresh has also closed after failing to secure further funding.