The year 2022 will have been loaded with news. Admittedly, battered by the repercussions of Covid, inflation, and the conflict in Ukraine, it was however distinguished by the unforgettable prowess of the Atlas Lions at the World Cup in Qatar. This year was also marked by an unprecedented boost in construction sites, for all sectors combined, and, more recently, by the signing of a framework agreement with the Sumitomo group and an investment agreement with its subsidiary SEBN.
The automotive industry sector has gone green. Morocco is lucky to see its projects flourish, activity is boosted by the signing of a framework agreement with the Japanese giant Sumitomo and an investment agreement with its subsidiary SEBN. A framework agreement relating to the development of industrial projects in wiring and component manufacturing activities was signed in Rabat, by the State and the Sumitomo group, during a ceremony chaired by Ryad Mezzour, Minister of Industry and Trade.
16,000 new direct jobs by 2028
Thus, the State has set itself the task of energizing the Moroccan automotive ecosystem. In concrete terms, 9 new projects will be implemented in different regions of Morocco, including Rabat-Salé-Kénitra, Tanger-Tétouan-Al Hoceima, and Casablanca-Settat, for a total investment amount of 1.965 billion dirhams. . This will enable the creation of 16,000 new direct jobs by 2028. The first investment project of this framework agreement will be deployed by the group’s SEBN subsidiary in Bouknadel with the establishment of a new industrial unit dedicated to the manufacturing of electrical harnesses. This investment agreement, amounting to 320 MDH, will allow the creation of 4,500 jobs.
For Ryad Mezzour, the Moroccan automotive sector and its strategic position in the national economy are very important in terms of job creation and export. He believes that “with this new investment from the Sumitomo group, the Moroccan automotive platform confirms its attractiveness to global rand suppliers, thus allowing us to continue to generate employment for our young Moroccans”. And to add: “This demonstrates once again the great confidence placed by investors in our ecosystem since they do not hesitate to invest and reinvest”. the Same story for Adil Search, CEO of Sumitomo-SEBN Morocco, who declared: “The Sumitomo group is delighted today to sign this framework agreement which will allow us to expand and diversify our activity in several regions of Morocco.
Sumitomo Electric Industries
Japanese giant Sumitomo Electric Industries is a Tier 1 automotive supplier specializing in the production of wiring harnesses, electronic components, and communication systems. The group employs more than 272,000 people across 400 production plants spread over 5 continents. Sumitomo has been present in Morocco since 2001 through 4 subsidiaries, Sews MFZ, Sews Maroc, SEBN, and Sews Cabind, and employs nearly 30,000 people.
