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Morocco assigns priority to improve business environment and promote investment : 05/02/2015

Morocco assigns priority to improve business environment and promote investment

Morocco made the improvement of the environment of the business and the promotion of investment national priorities, affirmed, Thursday, February 5th , 2015 in Paris, the Minister delegate in charge of the budget, Mr. Driss El Azami El Idrissi, stressing that the various reforms initiated by the Kingdom had a noticeable impact on its attractiveness and competitiveness.

In a speech at the opening of the Steering Committee meeting of the OECD-MENA for governance and investment in support of development, the Minister stated that the Government is working in partnership with the private sector, as part of a regular and sustained dialogue, both to identify the measures and reforms necessary to promote productive investment and entrepreneurship as well as to implement them, adding that several significant indicators confirm the Kingdom’s performance as regards investment.

He, in this respect, quoted that Morocco gained 26 places between 2012 and 2014 at the level of the index of the climate of the business and 5 places at the level of the index of world competitiveness, in addition to 14 places in the index relating to economic freedom.

The Minister also recalled the other projects initiated in the Kingdom of which profound and courageous political reforms initiated by His Majesty King Mohammed VI and crowned by the new Constitution, noting that Morocco is determined today to carry out other necessary structural reforms such as justice, grants, pensions and public finances.

Likewise, Morocco launched a new industrial acceleration strategy with the objective of increasing the share of industry in GDP and strengthen the job content of growth, continued Mr. El Azami El Idrissi, noting that the Kingdom has also started the social project to target the disadvantaged populations, just as it launched a major program for the implementation of advanced regionalization.

These reforms allowed Morocco to attenuate the impact of global and regional crises on its economic environment and continued the implementation of a sustained economic growth which should be settled between 4 and 5% in 2015 and 2016 after an average of 4.8% over the period 2009-2014, affirmed the Minister, noting that despite these advances, the Kingdom remains committed to consolidate its achievements and sustain its performance, giving a special attention to the promotion of investment, the development of entrepreneurship and support to SME.

Source: MAP​