The Kingdom of Morocco says it plans to increase revenues generated by its aviation sector to US$3 billion by the end of 2020.
The country’s Minister of Industry, Trade and Digital Economy, Moulay Hafid Elalamy, explained that aside the US$3 revenue, the industry is also expected to create more than 23,000 jobs over the period.
As part of the plan, the North African country intends to double local content rate (the level of contribution of local actors in the production chain) to 35%, in 2020.
“We are very confident regarding the achievement of goals set for the aviation sector, notably to create 23,000 new jobs, generate 26 billion dirhams of revenues and double the local content rate, bringing it to 35% in 2020,” said Mr. Hafid Elalamy.
This goal aligns perfectly with the 2014-2020 industrial acceleration plan (PAI) launched in April 2014, and in the framework of which many agreements with major firms operating in the sector have been signed.
Already part of the most dynamic sectors of the Moroccan economy in 2017, the aviation sector grew by more than 18% that year as compared to 2016.
The presence of several actors, especially global giants like Bombardier, EADS, Boeing and Safran, strategically positions the country to meet its demand which is ever increasing.
For instance, Safran is expected to produce more than 40,000 aircrafts by 2030, driven by the government’s efforts to accelerate the industrialization of the country to play a critical role in the aerospace industry on the African continent and beyond.
This post first appeared HERE