Japanese Auto Parts Giant Sumitomo to Invest $195 Million, Create 16,000 Jobs in Morocco

In this regard, a protocol of agreement was signed, on Wednesday, between the management and the State, represented by the Minister of Industry and Trade, Ryad Mezzour. With an investment of 1 billion 965 million dirhams, the new entities will be erected in the regions of Rabat-Salé-Kénitra, Tanger-Tétouan-Al Hoceïma and Casablanca-Settat and will allow the creation of 16,000 new direct jobs by 2028.

Speaking on the occasion, Ryad Mezzour indicated that "with this new investment by the Sumitomo group, the Moroccan automotive platform confirms its attractiveness to global tier-one suppliers, thus allowing us to continue to generate employment for our young Moroccans [...]. This once again demonstrates the great confidence placed by investors in our ecosystem as they do not hesitate to invest and reinvest."

"We are confident in the ability of Moroccan skills to deploy this project and others in the years to come, always with a view to strengthening our competitiveness," said Adil Semrich, CEO of Sumitomo-SEBN Maroc, for his part.