Latest news with #ChakibAlj
Ya Biladi
04-07-2025
- Business
- Ya Biladi
Saudi Arabia and Morocco explore joint investment fund
Businesses from Saudi Arabia and Morocco are considering establishing a joint investment fund to finance projects in both countries, following discussions between delegations in Rabat this week. A 30-member Saudi business delegation met with Moroccan counterparts to discuss the proposal, arriving as Morocco prepares for massive infrastructure development ahead of co-hosting the 2030 FIFA World Cup. «The discussions with the Saudi delegation focused on a proposal to set up a joint investment fund. Further talks are planned to ensure this proposal comes to fruition», said Chakib Alj, president of the General Confederation of Moroccan Enterprises. Saudi investors expressed interest in the food industries, chemicals, mining, energy, renewable energy, and technology sectors. Hassan bin Mujeeb, Chairman of the Council of Saudi Chambers, confirmed Saudi Arabia's investment intentions in Morocco. Two-way trade between the countries reached $2.9 billion in 2024, with Saudi exports to Morocco totaling $2.7 billion. However, officials noted that trade relations remain below potential due to customs obstacles and logistical difficulties.
Ya Biladi
22-06-2025
- Business
- Ya Biladi
Morocco and CEMAC sign cooperation pact to boost economic ties and regional integration
A cooperation agreement was signed on Friday in Laayoune between the General Confederation of Moroccan Enterprises (CGEM) and the business associations of the Central African Economic and Monetary Community (CEMAC) countries. This took place on the sidelines of the Parliamentary Forum on economic cooperation between Morocco and the regional bloc's Parliament. Signed by CGEM President Chakib Alj and representatives of the CEMAC business associations, the agreement establishes a Morocco-CEMAC Task Force as a joint platform for dialogue, coordination, and economic cooperation. Its mission is to structure collaboration, encourage information exchange, share best practices and business opportunities, support joint projects between companies from both regions, and serve as a proactive interface between Moroccan and CEMAC business communities. The agreement also creates a Steering Committee, co-chaired by a CGEM representative and one from each CEMAC business association. This committee will set up sectoral working groups, bringing together business leaders, experts, and institutional partners around priority themes. The parties commit to cooperating on identifying high-potential sectors of complementarity such as agro-industry, infrastructure, renewable energy, manufacturing industries, and digital services. They also pledged to facilitate business partnerships through matchmaking programs and B2B meetings, organize regular economic forums, and promote cross-investment, regional integration, and support for technology and skills transfer via training, expertise exchange, and industrial co-development projects. In a statement to MAP during the ceremony, Chakib Alj highlighted the complementarities between Morocco's and CEMAC economies, emphasizing the agreement to identify practical actions to boost economic ties. «Our goal is to create momentum between Moroccan companies and their CEMAC counterparts, fostering synergy and knowledge exchange», said the CGEM president. Similarly, Jean Daniel Ovaga, Chairman of the Congolese National Union of Economic Operators (UNOC), stressed that the agreement enables the private sector—a key driver of economic growth and value creation—to fully contribute to identifying priority cooperation sectors benefiting Morocco and CEMAC populations. «This is a strong commitment to move forward together, rebuild Africa, and bring growth and expertise to local communities», he stated. The Parliamentary Forum on economic cooperation between Morocco and the CEMAC Parliament aims to promote joint development projects and contribute to Africa's economic integration under the African Continental Free Trade Area (AfCFTA) agreement.
Morocco World
10-06-2025
- Business
- Morocco World
CGEM Delegation Begins Mission in Korea to Boost Economic Cooperation
Rabat – A delegation from the General Confederation of Moroccan Enterprises (CGEM) started a mission in Seoul, Korea, on Monday. The goal is to strengthen economic ties and explore new opportunities for cooperation and investment between Moroccan and Korean companies. Led by CGEM President Chakib Alj, the group includes businesses from various sectors such as automotive, plastics, chemical and para-chemical industries, food processing, heavy industry, pharmaceuticals, mining, renewable energy, and new technologies. The first stop for the delegation was the Incheon Free Economic Zone (IFEZ). Chafik Rachadi, Morocco's ambassador to Korea, joined the visit. Wonsok Yun, commissioner of IFEZ, introduced the delegation to the dynamic business environment of the zone, which hosts over 300 foreign companies involved in manufacturing and research and development. A highlight of the visit was the Smart City Integrated Operation Center (SCIOC). Operating since 2012, this center manages important city services in real time, such as traffic control, emergency response, environmental monitoring, and infrastructure maintenance. The delegation also visited the Samsung Innovation Museum (SIM) in Suwon, near Seoul. This museum showcases the history of Samsung's key innovations, from early electrical devices to the latest technological solutions. The mission will continue until June 13. It includes meetings with leading Korean companies, professional organizations like the Korea International Trade Association (KITA) and the Korea Chamber of Commerce and Industry (KCCI), as well as business-to-business meetings and sector-specific sessions. The trip is expected to pave the way for stronger economic partnerships between Morocco and Korea. By engaging directly with key Korean companies and institutions, the delegation aims to attract investment, foster joint ventures, and open new export markets for Moroccan products. The meetings and sector-specific sessions also aim to lead to technology transfers, enhanced industrial cooperation, and the development of strategic sectors in line with Morocco's national priorities. Tags: CGEMeconomyMorocco and Korea
Morocco World
04-06-2025
- General
- Morocco World
Eid al Adha: Morocco Announces Recommendations for Safe Road Travel
Rabat – The Moroccan National Motorway Company (ADM) has warned that the motorway network will experience a significant increase in traffic during the Eid al Adha holiday. The highway authority said it offers a series of recommendations to ensure travelers' safety, noting that heavy traffic could be expected on Thursday and Friday between 3 p.m. and 10 p.m. Traffic could also be high on Monday, June 9, from 4 p.m. to 10 p.m., said the same source. The statement urged travelers to plan their trips in advance, check real-time traffic conditions by downloading the ADM Traffic app. In addition, the Moroccan authority called on citizens to verify and recharge their Jawaz Pass balance before using the motorway. Jawaz is a plan dedicated to facilitating highway stop payments. The highway authority further called on citizens to stay informed about weather alerts, take breaks every two hours, and check the mechanical condition of their vehicles, including tire condition. The statement reassured citizens that it will operate in high alert mode, reinforcing traffic management and roadside assistance teams as well as strengthening communication with users. Morocco will celebrate Eid Al Adha on Saturday, and the government has exceptionally announced Monday, June 9, as a day off for the public sector. Chakib Alj, the President of the General Confederation of Moroccan Enterprises (CGEM), urged private sector companies to grant employees a day off on Monday, June 9, aligning with the public sector , in celebration of Eid Al-Adha. In response, several private companies have also granted their employees Monday as a day off. In the same spirit, the Moroccan Professional Banking Group (GPBM) has announced that June 9 will be a holiday for banks. 'Each bank is responsible for informing its employees and clients of this decision,' the group said on Monday, noting that banking institutions will also take the necessary measures to ensure an adequate supply of banknotes and the continuous and smooth operation of ATMs. Eid Al Adha commemorates Prophet Ibrahim's willingness to sacrifice his son in obedience to God. The feast falls on the tenth day of Dhu Al Hijjah — the twelfth and the last month in the Islamic calendar. Eid Al Adha will have a different feel to it this year, with Morocco having canceled the sacrifice ritual. King Mohammed VI announced the cancellation of the sacrifice ritual in February, citing challenges like drought.
Morocco World
03-06-2025
- Business
- Morocco World
Morocco's Banks To Enjoy Special Eid Al Adha Holiday on June 9
Rabat – The Moroccan Professional Banking Group (GPBM) has announced Monday, June 9, as an exceptional holiday for banks. The decision followed CGEM's appeal calling on the private sector to grant employees a day off on Monday in celebration of Eid Al Adha, which will fall on June 7 in Morocco. 'Each bank is responsible for informing its employees and clients of this decision,' the group said, noting that banking institutions will also take the necessary measures to ensure an adequate supply of banknotes and the continuous and smooth operation of ATMs. The bank's statement comes just a day after the General Confederation of Moroccan Enterprises (CGEM) urged the private sector companies to grant employees a day off on June 9. CGEM said the decision aligns with the public sector, after the government announced a special holiday on Monday for employees. 'We invite, as far as possible, private sector companies to also grant Monday, June 9, as a day off to their employees,' CGEM President Chakib Alj said. Last month, the Ministry of Islamic Affairs confirmed that Eid Al Adha will be on June 7 this year. The celebration, which commemorates Prophet Ibrahim's willingness to sacrifice his son in obedience to God, falls on the tenth day of Dhu Al Hijjah- the twelfth and the last month in the Islamic calendar. Eid Al Adha will look different in the North African country this year, as Moroccans will not perform the ritual sacrifice. In February, King Mohammed VI announced the cancellation of the sacrifice ritual, citing challenges like drought. The monarch said the concern takes into account the economic and climate challenges Morocco is facing, which has led to a remarkable decline in livestock population. 'We invite you to celebrate Eid al Adha, God willing, in its usual spiritual form by attending the Eid prayer in misallas and mosques, giving alms, gathering with loved ones, and performing acts of devotion and piety – thanking God for his immense generosity and seeking reward and divine recompense,' the monarch said. Tags: Eid Al Adhaeid al adha cancelled
