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Province of Oujda: HM King Mohammed VI Initiatives will Boost Local Economy
Contact: Drawi, 202-578-2014
OUJDA, Morocco, June 25, 2013 /Standard Newswire/ -- Part of the ongoing Royal initiative to develop the Eastern Provinces, HM King Mohammed VI dedicated this week the first part of the "Oujda Shore" offshoring center. This new project will turn the Oujda metropolitan area into a hub for high tech companies and multinationals.
This latest Royal initiative aims at creating world class infrastructure to attract big name companies and thus stimulating the local economy and creating jobs. The Moroccan Monarch instructions were to encourage youth owned small and medium-sized enterprises to bid for construction contracts. With a budget of 120 million dirhams, the first portion of the "Oujda Shore" project will involve the construction of two edifices dedicated to offshoring activities and information technology companies.
This ambitious project is expected to generate around 1,200 direct jobs and hundreds of indirect employments in several sectors including housing, hospitality and telecommunications among others. As a result of the Royal initiative, communities of the Eastern Provinces will witness an influx of capital, technological knowhow improving the standards of living of the locals and boosting the regional economy.
Oujda-Shore is a component of the much larger Oujda Information technology mega- that also hosts a SME/SMI section, a logistics zone, a training campus and a Retail park. To further support the expansion and growth of the Oujda metro area, HM King Mohammed VI chaired in the same occasion the signing ceremony of a convention related to the 2013-2016 integrated program for the city urban development.
This initiative, budgeted at 826 Million dirhams, will support the economic, urban and demographic expansion of the capital of the east, Oujda.
This program has five major components to include consolidating the road, drinking water and liquid sanitation networks, protecting environment, developing sports facilities and recreational spaces and encouraging local businesses.
These latest two projects will put the City of Oujda and Eastern Morocco on the map of international out-sourcing, off-shoring and information technology. HM King Mohammed VI aims to create the right economic and business environment to attract foreign capital while protecting the national economy.
