lace- Morocco is accelerating to activate the pillars of the new development model as the authorities strive to direct their compass to the private sector to steer the locomotive of commercial and investment activities, thus helping to give growth an additional impetus as they problem of unemployment. .
The government seeks to increase the share of private investment to 350 billion dirhams ($ 33 billion) over the next thirteen years, through the draft of the new investment charter introduced by Moroccan King Mohammed VI last February.
Rabat wants the capital of private companies to make up two-thirds of the total investment volume in the country by 2035, while enabling it to give a strong impetus to the economy, given its innovative stimulus content aimed at to strengthen the business sector.
According to official estimates, the public sector is currently responsible for two thirds of investments, and therefore a revolution in the method of partnerships with the private sector will be Morocco’s key to the success of its promising development plans.
Tayeb Ais: It is important to develop the investment structure to make it more competitive
Prime Minister Aziz Akhannouch emphasized during the monthly session related to the government’s general policy in the House of Representatives last week that work is underway to prepare the investment charter according to a participatory approach with the various stakeholders. “The charter will change the current trend,” he said.
Akhannouch explained that in order to avoid the constraints that have plagued previous attempts to formulate it, the government is currently preparing it so that it responds to the various requirements that guarantee the success of the economic reform program.
The new charter project is based on an important support system, which will be an incentive to increase the rate of investment and its contribution to wealth creation and its equitable distribution.
In a previous cabinet, King Mohammed VI emphasized the leading role that the private sector should play in development.
He called on the government to effectively involve role players in the private sector, including the General Confederation of Moroccan Enterprises, the largest group of companies in the country, and the professional group of Moroccan banks, to make the investment charter a success.
The business community in the federation believes that the implementation of the new investment charter is crucial, especially as it aims to develop domestic and foreign investment in Morocco.
She pointed out that the charter would develop its predecessor, which was issued about a quarter of a century ago, to create an environment conducive to business, encouraging and attractive to investment.
Economist Al-Tayeb Ais stressed the importance of developing the structure of the investment sector and providing a pioneering and ready environment in the face of intense competition between the countries of the world, especially the Middle East, which is important attracts investment thanks to the progress it has seen and the opportunities it offers to those who want to invest.
The main objectives identified in the new investment treaty are to support the labor market, promote equitable development for all regions of the country, and identify promising priority sectors for the Moroccan economy.
The concept of the new charter includes major support measures, consisting of compensation to support investments represented to encourage investment in the most fragile regions, and additional sectoral compensation that provides incentives with the aim of reviving promising sectors.
Younes Skouri: We will develop labor market policies and anticipate the needs of sectors
Analysts stress the importance of the involvement of money owners and businessmen in the new charter, because two thirds of Moroccan companies are public, and the goal today is for private sector companies to represent the majority, and this will come gradually, first by 50 percent before you work to achieve the specified goal.
Akhannouch believes the charter will encourage promising investment in the economy in the future, in addition to the adoption of a new support system that improves investment incentives, while expanding the base of beneficiaries of the new investor support plan to include small, medium and very small businesses . .
He believes that this goal, which will not come without the launch of an integrated set of new generation projects and reforms, comes to the forefront of public investment management, supporting and motivating private sector companies, and strengthening it all with an investment. stimulating charter.
Morocco strives to build its new development model, which under its strategic axes has enabled the development and diversification of the economy and the increase of its competitiveness, to create added value and more quality jobs. This should be done through special support measures aimed at small and medium-sized companies, as well as other measures to promote Moroccan investments abroad.
Minister of Economic Integration Younes Al-Skouri confirms that the government is working hard to establish strong policies for the labor market and anticipate the needs of sectors and investments in terms of resources and competencies, and to prepare them to keep up with others transformations in the production system.
The competent government departments are working to issue a decree to reduce the value of investment programs that require state support from $ 9.5 million to $ 4.7 million, in order to open up prospects for a larger number of medium and small companies to launch investment projects.
Experts believe that the new charter will open other doors, such as the reform of the regulatory framework for the real estate sector, the modernization of industrial zones in all regions and the simplification of reconstruction procedures by including the economic dimension.
It will also provide a basis for the revision and reform of various legal texts aimed at simplifying and stimulating investment in Morocco.
33 The amount of investment that the government is targeting by the private sector by 2035. billion dollars
Earlier this year, the Governor of the Central Bank, Abdullatif Al-Jawahiri, linked efforts to achieve higher economic growth rates to a key issue related to accelerating the pace of investment development and further stimulating business.
Speaking at a hearing before Parliament’s Committee on Finance and Economic Development last February, he said “keeping up with the national productive structure is one of the bank’s priorities to support investment as it is an important component of the economy. . “
Central Bank data show that during the two decades before the outbreak of the pandemic, Morocco made efforts to boost investment, as its value amounted to 32.3 percent of GDP, compared to 25.6 percent as a world average .