Morocco boasts one of the most promising and dynamic economies in Africa, Xu Leil, chairman of Chinese textile giant Sunrise Group, said on Thursday in Rabat.
Speaking to the press after the signing ceremony of a MAD 2.3 billion investment agreement between Morocco and Sunrise, chaired by Head of Government Aziz Akhannouch, Leil said the decision to invest in the North African country was driven by its strategic location. "Morocco’s position is crucial for our group as it facilitates access to European and U.S. markets," he said.
He noted that Morocco’s free trade agreements with the European Union and the United States also played a key role in the group's decision to establish operations in the country.
As part of the project, two industrial units will be set up in Skhirat and Fez, contributing to the creation of an integrated textile supply chain. The investment is expected to generate 7,000 direct jobs and over 1,500 indirect jobs, strengthening Morocco’s position in global value chains.
The project will help Moroccan companies source yarn, fabric, and finished textile products locally, reducing lead times and logistical costs. This will enable firms to fulfill international orders without intermediaries, boosting efficiency in the sector and enhancing the competitiveness of Moroccan businesses in global markets.
MAP: 20 March 2025
