RABAT, Mar. 21 (AGCNewsNet) - Chinese textile company Sunrise Group will invest 2.3 billion dirhams ($240 million) to build two textile plants in Morocco, the Moroccan government announced on Thursday after signing the agreement.

The facilities, to be located in Fez and Skhirate near Rabat, will be Sunrise's inaugural manufacturing sites in Morocco. They are set to produce yarn, fabrics, and clothing products, aiming to help Moroccan manufacturers reduce delays and logistical costs, thereby fulfilling international orders without intermediaries, according to a statement from the prime minister's office.

The government highlighted that this investment would "enhance Morocco's textile industry competitiveness" and is expected to create employment for 7,000 people. However, no specific timeline for the commencement of operations was provided.

Morocco exports the majority of its textile products to Europe. Official data indicated that last year, Morocco's exports of ready-to-wear and leather products decreased by 0.5% to $4.5 billion.

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