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Morocco to Spend $580 Mln to Attract More Tourists

People walk past a solar tree that generates energy using panels, in front of the landmark Kotoubia mosque in Marrakech, Morocco, Nov. 12, 2022. (AP)
People walk past a solar tree that generates energy using panels, in front of the landmark Kotoubia mosque in Marrakech, Morocco, Nov. 12, 2022. (AP)
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Morocco to Spend $580 Mln to Attract More Tourists

People walk past a solar tree that generates energy using panels, in front of the landmark Kotoubia mosque in Marrakech, Morocco, Nov. 12, 2022. (AP)
People walk past a solar tree that generates energy using panels, in front of the landmark Kotoubia mosque in Marrakech, Morocco, Nov. 12, 2022. (AP)

Morocco plans to spend 6.1 billion dirhams ($580 mln) up to 2026 to develop its tourism sector in order to attract more visitors and bring in hard currency, the government said on Friday.

The government plans to spend more money on marketing, develop more types of attractions for tourists, upgrade hotels and build new ones, and train more people to work in the sector, the prime minister's office said.

It aims to attract 17.5 million tourists by 2026, up from 11 million last year. In 2019 Morocco had 13 million visitors.

The plan would help create 200,000 new jobs in the sector over the next four years, the government said.

Last year, the sector's revenue more than doubled compared to 2021 to 91 billion dirhams, exceeding 2019 levels.

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Egyptian Firms Sign Final Contracts with Chinese Consortium to Build Chemical Plant

A general view of the Nile River from the Egyptian capital, Cairo (Reuters).
A general view of the Nile River from the Egyptian capital, Cairo (Reuters).
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Egyptian Firms Sign Final Contracts with Chinese Consortium to Build Chemical Plant

A general view of the Nile River from the Egyptian capital, Cairo (Reuters).
A general view of the Nile River from the Egyptian capital, Cairo (Reuters).

Several Egyptian companies signed on Sunday final contracts with a Chinese consortium comprising China State Engineering Corp and East China Engineering Science and Technology Company to build a phosphoric acid plant in Egypt's New Valley area, Reuters reported.

The plant, which has an investment value of $658 million, will have the capacity to produce 250,000 tons of concentrated phosphoric acid in the first phase of the project, Egypt's petroleum ministry said in a statement.

Egyptian participants in the project include leading fertilizer producer, Abu Qir Fertilizers, state-owned Misr Phosphate and others.