Portuguese Valérius Têxteis signed a memorandum of understanding with Morocco for an amount of one billion dirhams on Friday in Lisbon.
The Minister Delegate for Investment, Convergence, and the Evaluation of Public Policies, Mohcine Jazouli, the President of the Valérius Group, José Manuel Ferreira, the Managing Director of Moroccan Investment and Export Development Agency (AMDIE), Ali Seddiki, and Hammani Amahzoune of SG3H, a Moroccan partner in the textile sector, initialed an agreement on the sidelines of the Portugal-Morocco Economic Forum to strengthen and sustainably develop the Moroccan textile sector.
Already present in Morocco, Valérius Tēxteis is launching a new textile recycling project for this purpose, allowing the creation of 1,500 direct jobs.
The 14th Morocco-Portugal High-Level Meeting initiated the Portugal-Morocco Economic Forum, which was organized by the General Confederation of Moroccan Enterprises (CGEM), the Confederação Empresarial de Portugal (CIP), the Agência para o Investimento e Comércio Externo de Portugal (AICEP), and the Agency Association for the Development of Investments and Exports (AMDIE). This forum serves as a foundation to further advance business and investment opportunities in multiple fields and solidify the partnership between the businessmen of the two countries.
This Economic Forum aims to activate levers to further strengthen economic and commercial cooperation between the two countries, identify new cooperation opportunities, and build innovative and sustainable partnerships between Moroccan and Portuguese companies in key sectors such as industry, renewable energies, and digital.