Casablanca– Morocco’s economic strategy is undergoing a significant transformation, with the government focusing on industrial growth, import substitution, and sustainable development. A key initiative in this transformation is the Project Bank, launched by the Ministry of Industry and Trade. This program is already making significant strides, positioning itself as a pivotal element in boosting the country’s industrial sector and achieving greater economic independence.

A promising start: 1,900 active projects

As of 2025, the Project Bank has successfully generated 1,900 projects, which are either operational or still under development. These projects, which span multiple industrial sectors, are expected to significantly contribute to reducing Morocco’s dependence on imports. The Ministry of Industry and Trade, led by Minister Ryad Mezzour, has emphasized that these projects are collectively targeting $10.1 billion in import coverage once fully matured in the next 2 to 5 years. The goal is to reduce the nation’s trade deficit and enhance local manufacturing capabilities.

Mezzour highlighted that the Project Bank has already attracted an investment of $10.3 billion, and once these projects come to fruition, they will generate an additional $3.1 billion in net value, following the deduction of production costs. The economic impact is expected to extend beyond local production, as these projects are also expected to raise export values by approximately $10.3 billion.

Diversified industrial representation

The success of the Project Bank reflects Morocco’s broader ambition to strengthen its industrial base. Over 13,000 companies currently operate within the Moroccan industrial sector, employing around 1.1 million people. The sector includes diverse industries such as automotive, textiles, food processing, pharmaceuticals, and construction materials. Notably, the automotive industry alone employs 250,000 people, while textiles account for 230,000 workers.

The Project Bank aims to further develop these industries and stimulate additional job creation, ultimately promoting local economic integration. The plan also focuses on enhancing the competitiveness of Moroccan products in the global market, ensuring that local industries can effectively challenge imports by offering high-quality goods at competitive prices.

Import substitution and decarbonization goals

One of the core objectives of the Project Bank is to substitute imports with locally produced goods. Minister Mezzour explained that some products, although essential, are often more costly to produce domestically than to import. However, the government’s long-term strategy includes not only enhancing local production capabilities but also focusing on sustainable practices, such as decarbonization efforts in industrial production, which will help preserve the environment and reduce carbon emissions.

These sustainability efforts align with Morocco’s broader energy strategy, which seeks to achieve a 30-40% integration of renewable energy and green hydrogen into industrial processes. This shift will enable Moroccan industries to compete on a global scale, particularly in heavy industries, and boost the nation’s self-sufficiency while reducing dependency on external energy sources.

Looking forward: Economic integration and global competitiveness

The vision for Morocco’s industrial sector, backed by the Project Bank, is one of economic integration and sustainability. As the projects under the bank mature, they are expected to generate $10.1 billion in imports coverage and significantly contribute to export growth, enhancing Morocco’s presence in international markets. By fostering a competitive, sustainable, and resilient industrial sector, Morocco is positioning itself as a growing economic powerhouse in North Africa.

With its focus on import substitution, local production, job creation, and sustainability, the Project Bank has already proven to be a cornerstone of Morocco’s industrial strategy. As the country continues to implement its economic reforms and boost its industrial base, the Project Bank will play a crucial role in shaping Morocco’s future prosperity and ensuring its economic self-sufficiency.