Morocco Launches Free Economic Zone in Fnideq to Boost Trade, Curb Smuggling
Things are taking shape for the reconversion of the smugglers of Bab Sebta. The decree authorizing the Tanger Med Special Agency to create a subsidiary dedicated to the future new Economic Activity Zone of Fnideq has been published in the official bulletin.
The new company called "Economic Activity Zone of Fnideq" will be dedicated to the development of commercial activity zones, free zones, in addition to the development, marketing and management of spaces within these zones. Not to mention the development and marketing of real estate projects. It will be endowed with a capital of 1 million dirhams.
The studies and implementation work for this project will cost 200 million dirhams. This fund will be mobilized over three years (2020-2022). The Ministry of the Interior, the Ministry of Industry and Trade, the Tanger-Tétouan-Al Hoceima Regional Council and the Northern Development Agency will contribute 70 million dirhams, 40 million dirhams, 80 million dirhams and 10 million dirhams respectively.
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