Casablanca– In a recent announcement, Nizar Baraka, the Moroccan Minister of Equipment and Water, revealed that public investment in the construction and public works sector has surged by 56% for the year 2024 compared to 2023, reaching a total of 64 billion Dirhams, equivalent to approximately $6.60 billion USD. The revelation came during an informational day focused on the forecasted program for construction and public works contracts in 2024, attended by key government officials and industry stakeholders.

Baraka highlighted the significant accomplishments of 2023 and outlined the anticipated prospects for the ongoing year, emphasizing the government’s commitment to transparency in the sector. He underscored the importance of the day’s discussions in providing a comprehensive economic vision for the construction and public works sector.

The surge in public investment comes amidst a notable resurgence in the sector, attributed to increased public spending and the implementation of structured programs. One such program is the reconstruction and rehabilitation initiative for areas affected by the Al Hawz earthquake, which will receive substantial support over the next five years, with investments totaling 120 billion Dirhams (approximately $12.37 billion USD).

Moreover, Morocco is gearing up to host major sporting events, including the Africa Cup of Nations in 2025 and the FIFA World Cup in 2030. These events present not only opportunities for infrastructure development but also significant contributions to the country’s overall growth and development.

A pivotal factor in driving investment in the construction and public works sector is the partnership agreement between Morocco and the United Arab Emirates, spanning from 2024 to 2029. This agreement has generated considerable interest in investment opportunities within the sector.

Reflecting on the achievements of the previous year, Minister Baraka noted that substantial investments were made in infrastructure, water, and transportation, comprising 91% of the forecasted program for 2023. The forecasted program for 2024 indicates a continued focus on public investments to drive growth and development.

Accompanying measures aimed at restructuring the sector include the classification and qualification of construction companies to ensure project quality and the full transition to electronic procedures by the end of 2024.

Overall, the construction and public works sector play a crucial role in Morocco’s socio-economic landscape, contributing over 6% to the GDP and employing one million citizens. Increased public investment is expected to further enhance economic conditions and create additional job opportunities across the country.