The investment is expected to create 11,000 direct jobs across various regions of the country over the next three years.
The announcement was made during a meeting between Lei Xu, chairman of Sunrise Group, and Moroccan Prime Minister Aziz Akhannouch, who was representing King Mohammed VI at the Forum on China-Africa Cooperation (FOCAC) summit in Beijing.
Akhannouch expressed his strong support for the Chinese company’s investment projects, recognizing their potential to revitalize the Moroccan textile sector and contribute to the government’s job creation strategy.
The textile industry plays a crucial role in Morocco’s economy, accounting for a significant portion of national production. The Moroccan government has long prioritized the sector as a key driver of economic growth.
A recent study by Evalliance highlighted Morocco’s competitive advantage in the textile industry, noting that the country has the third-highest minimum wage among EU garment suppliers. This attractive wage rate positions Morocco as a preferred destination for textile manufacturers.
MN/te/lb/abj/APA