Tessera is now working to create a new company in Morocco, Nemotek Technology, which will be able to produce 100 million mobile phone cameras, which is 10 percent of the world's demand, local MAP news agency quoted the company's CEO Bruce McWilliams as saying.

McWilliams appreciated Morocco's strategic location between Europe and North Africa, adding that the kingdom's important asset is its competitive cost of living, compared with other emerging economies.

McWilliams, who was speaking at the commencement of the English- language Al Akhawayn University in central Morocco city of Ifrane, stressed the importance of training in boosting economy.

He cited the examples of Japan, South Korea and Singapore which have built up their economies by launching job-creating projects.