For the development of the aquaculture sector, the government is investing substantial amounts to realize a total of 441 projects, already launched or in progress, with an estimated investment volume of approximately 4.5 billion dirhams. This was reported by L’Économiste.
Speaking before the advisors of the second Chamber of Parliament, Mohamed Sadiki, Minister of Agriculture and Fisheries, stated on Tuesday, April 16, 2024, that his department is currently « supporting 441 investment projects, with an estimated investment volume of around 4.5 billion dirhams. »
The minister specified, as reported by L’Économiste on Thursday, April 18, that 311 projects are authorized, with 143 in the process of financial structuring and 66 currently being implemented.
Mohamed Sadiki also noted that out of the 441 projects, 123 have a « social character » benefiting young entrepreneurs, including 10 cooperatives engaged in traditional fishing activities, underscoring the significance of this sector.
In total, 311 projects are currently authorized, with 143 under financial structuring and 66 in progress.
According to the minister, it is imperative to enhance the competitiveness of the activity by extending fiscal measures and incentive taxes, represented by reducing customs duties to 2.5% and exempting value-added tax on certain imported products, such as feed inputs, fish larvae, and young shellfish.
The Ministry of Agriculture and Fisheries is currently working with all its partners to create a conducive environment for the development, consolidation, and sustainability of this sector.
To achieve this, a comprehensive vision is being implemented, manifested by modernizing legal frameworks related to marine aquaculture and establishing a National Aquaculture Development Agency.
This vision also includes the development of maritime and continental domains to accommodate aquaculture activities.
As a result, the eight marine aquaculture development plans cover 65% of the national coastline. Another mission undertaken by this department is to continue implementing developments in other areas.
« In addition, support and guidance are provided to attract investments in this sector by assisting projects that match territorial potential. Similarly, efforts are made to provide professional skills through training programs, internships, and knowledge transfer. The same applies to the implementation of investment encouragement incentives, » according to L’Économiste.
