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Over 360 Spanish companies have relocated production to Morocco to evade costly EU policies, Atalayar reports, citing data from the Spanish Institute of Exports and Investments. EU exporters are set to benefit from the removal of Moroccan customs duties on 70% of agriculture and fishery products, which is expected to save around EUR 100 mn once implemented, a source told the news outlet. Agri-food companies make up some 10% of the firms making the move.
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Three new Japanese factories to kick off operations in SCZone: Japanese hygiene and health food products company Saraya has opened three plants in Egypt’s Sokhna Industrial Zone with plans for exporting production, according to a statement. The new facilities include a plant for producing jojoba oil for export to European and Asian cosmetic companies, a factory for manufacturing natural cosmetics, and a factory for producing zero-calorie natural sweeteners, according to a cabinet statement. The complex will serve as an export base for the company’s products to MEA and other countries.
And there’s more in the pipeline: Another factory that will produce non-sterile nitrile gloves will be opened in the still-to-come second phase of the company’s two part investment plan that will bring the total amount of investments in the project to USD 12 mn.
