Mr. Mohamed BENCHAABOUN takes part in the first edition of the Summer University of the (CGEM) : 29/09/2018

Mr. Mohamed BENCHAABOUN takes part in the first edition of the Summer University of the (CGEM)

Mr. Mohamed BENCHAABOUN, Minister of Economy and Finance, participated, Saturday September 29th 2018 in the 1st edition of the Summer University organized by the Confédération Générale des Entreprises du Maroc (CGEM)-« The General Confederation of Moroccan Companies » under the theme « a strong company, a winning Morocco ».

During his speech, he stressed the increasing need to accelerate the growth rate in Morocco and added that the Government provides for a set of measures, including the support of Small and Medium-Sized Entreprises and Very Small Entreprises to achieve this goal.

M. BENCHAABOUN,took this opportunity to highlight achievements of different economic sectors as well as steps that authorities are about to adopt to encourage the development of businesses and boost economic growth. He stated that the government must remain committed to stimulate growth, through the establishment of new tax policies inter alia, within the framework of the PLF 2019.

In addition, he indicated that a significant effort is being made at the level of garantee Funds, that demonstrates the wish to establish a « small business act », which goal is a better access to garantee Funds of the (CCG) « the Central Guarantee Fund » as well as strengthening equity through subordinated debts.

« We need to accelerate the pace of growth. This is a current priority f», he stated, citing three major levers for action to acheive this objective namely VAT refund, payment terms and access to the funding of Small and Medium-Sized Businesses. «The purpose is to simplify garantee Funds for further transparency and ensure that it is more used by businesses and banks » he claimed.

The first garantee fund shall finance the treasury and the second will be directed towards investment, he explained.

The Minister added « We will also address the whole section of very small entreprises which is now financed neither by banks nor by microcredit association system, and this through a new mechanism that will be established with the (CCG) ». He specified that this action is part of a set of measures of the Finance Bill for the year 2019.

The closing session of this event was characterized by the participation of the Head of the Government, Mr. Saâdeddine El OTMANI. About 90 economic and political leaders and presidents of domestic and foreign federations led the discussions during the fevent by suggesting tools and mechanisms for the Moroccan economy to develop and grow, namely through investments by calling for a new model of development based on a policy combining the development of domestic market and the integration of international markets.