In a significant boost to its textile industry, Morocco has signed an investment agreement with China’s Sunrise Group, a global leader in textile manufacturing. The agreement, signed in Rabat, underscores Morocco’s commitment to strengthening its industrial base and enhancing its competitiveness on the global stage, in line with the vision of King Mohammed VI.
The MAD 2.3 billion (approx. USD 230 million) deal will establish two industrial units in Skhirat and Fez, creating 7,000 direct jobs and over 1,500 indirect jobs. The project aims to build an integrated supply chain within Morocco, allowing local companies to produce fabrics and garments domestically, reducing logistics costs and improving efficiency.
According to a government statement, this investment will reinforce Morocco’s role in global textile supply chains by eliminating the need for intermediaries and improving the capacity of Moroccan businesses to meet international orders efficiently.
The move is part of Morocco’s broader strategy to revitalize its industrial sector and position itself as a regional leader in textile production. The deal is also seen as a testament to the strong economic and diplomatic ties between Morocco and China, fostered under the leadership of King Mohammed VI and President Xi Jinping.
At the signing ceremony, Head of Government Aziz Akhannouch emphasized that the agreement demonstrates international investors’ confidence in Morocco’s economy. He added that the creation of over 8,500 jobs aligns with the government’s priority to stimulate employment and industrial growth.
The agreement follows extensive discussions between the Moroccan government and Sunrise Group, including a pivotal meeting in Shanghai in September 2024 between Akhannouch and Sunrise Group Chairman Li Xu. The Chinese company, already active across several Asian markets, views Morocco as a strategic hub for its global expansion.
The ceremony was attended by several senior Moroccan officials, including Minister of Interior Abdelouafi Laftit, Minister of Economy and Finance Nadia Fettah, Minister of Equipment and Water Nizar Baraka, and Minister of Trade and Industry Ryad Mezzour, highlighting the project’s national importance.
With this investment, Morocco is poised to accelerate industrial transformation, foster sustainable economic development, and reinforce its position as a key player in the global textile industry.
