The Moroccan government on Tuesday unveiled plans to invest around $2 billion in its textile and clothing industry as it struggles to cope with falling exports amid fierce competition from rival producers.

Prime Minister Abderrahmane El Youssoufi said the huge investment, which includes tax cuts, lower energy costs and low interest loans, will create up to 100,000 new jobs and boost output significantly.

Morocco’s textile and garment industry currently employs nearly 200,000 people but has suffered in recent years amid soaring energy costs and increased competition from Turkey, Egypt and Tunisia.

Officials said the new investment will also include international ad campaigns in its main export markets such as France and the UK.