Kenitra Hosts Largest German-Supported Industrial Incubator Project… A New Start to Attract Investment and Create 1,200 Jobs
In a new step to bolster the national industrial infrastructure, Morocco signed a financing agreement on Wednesday with the Investment for Employment mechanism of the German KfW Group, amounting to €2.31 million, aimed at supporting the “incubator workshops” project within the Atlantic Free Zone in Kenitra.
The agreement was signed between Ingrid Gehrke, the General Director of the German mechanism, and Marwan Abdel Aati, the CEO of AFZI, at a ceremony attended by representatives from the Ministry of Industry and Trade, the German Embassy, the German Development Bank, and officials from MEDZ.
The project aims to construct ten standard industrial workshops spanning approximately 9,700 square meters, designated for small and medium industrial enterprises, enabling them to commence production without delay. These workshops will offer ready and flexible spaces at competitive rental rates, in an attempt to reduce startup costs for businesses and support their capacity to expand.
Additionally, the project allocates spaces for startups for a limited duration, providing them with the opportunity to test their equipment and attract specialized human resources before transitioning to their permanent units. This strengthens their stability and enhances their presence in the local industrial fabric.
This project represents the fifth intervention by the Investment for Employment mechanism in Morocco, in partnership with Atlantic Free Zone Investment, affiliated with the MEDZ Group. The total investment envelop amounts to €3.84 million, with expectations of generating around 1,200 new job positions within the industrial zone.
This initiative comes as part of the kingdom’s efforts to implement the industrial acceleration plan and the national investment strategy, which aims to mobilize 550 billion dirhams in private investments and create 500,000 job opportunities by 2026, while Morocco continues to solidify its position as an attractive industrial destination, benefiting from the dynamics of restructuring global value chains.
The Investment for Employment mechanism is one of the initiatives launched by the German KfW Group under the “Decent Work for a Just Transition” program, aimed at supporting job creation and improving the investment climate in eight partner countries, including Morocco. Meanwhile, the MEDZ Group is one of the key players in developing industrial and service zones in the kingdom, as part of the investment dynamics of the Deposit and Management Fund.
