Aeronautics: Morocco Targets MAD 26 bln of Turnover, 23K New Jobs by 2020
Morocco's aeronautics industry aims to reach 26 billion dirhams of turnover and create 23,000 new jobs by 2020, said minister of Industry, Investment, Trade and Digital Economy, Moulay Hafid Elalamy.
"We are confident that the goals set for the aeronautics sector will be met: to create 23,000 new jobs, reach 26 billion dirhams of turnover and double the local integration rate to 35% by 2020," Elalamy told MAP.
The minister pointed out that manufacturers, encouraged by the momentum in this sector, have even raised the targets and are projecting an annual growth of 20% compared to 18% initially. They also aim to achieve a local integration rate of 42% at the end of the Industrial Acceleration Plan (PAI), he added.
Elalamy underlined that the aeronautics industry grew by more than 18% compared to 2016 mainly because of the global economic situation, which was favourable in 2017 with a reevaluated demand for 40,000 new aircraft by 2030 and the greater reliance of manufacturers on emerging sources, due to the constraint of cost reduction imposed by airlines.
"The results and the achievements confirm our vision," he said, adding that the sector employs today more than 15,000 people.