Mr. Benchaaboun calls for joint efforts to develop partnerships with MRAs under the Mohammed VI Fund : 16/02/2021

Mr. Benchaaboun calls for joint efforts to develop partnerships with MRAs under the Mohammed VI Fund

Mr. Mohamed Benchaaboun, Minister of the Economy, Finance and the Reform of the Administration, launched on Tuesday February 16th 2021 in Casablanca, a call to capitalize on the dynamics that the Kingdom is experiencing today in order to revive its economy, and to combine all efforts to develop partnerships with Moroccans Residing Abroad (MRA) in productive and high added value sectors.

The Minister, who spoke at a virtual meeting, organized by the General Confederation of Enterprises of Morocco, around investment opportunities in Morocco, affirmed that the leverage effect targeted through the establishment of the Mohammed VI Investment Fund is an opportunity to seize to create such partnerships and strengthen entrepreneurial links with MRAs. In its logic of intervention, he said, the Mohammed VI Fund should constitute a permanent tool to encourage and support the entrepreneurial dynamic of the Moroccan diaspora through the multiple funding vehicles that will be put in place.

In this context, Mr. Benchaaboun believes that to increase their contribution to investment projects with high growth potential and job creators, MRAs could find in these tools, funding partners for their development. All the more so since SMEs are priority targets of the said fund.

Considered to be one of the axes of the recovery plan, the Mohammed VI Investment Fund aims to face the challenges induced by the crisis which has deeply affected the Moroccan economy.

In this regard, the Minister explained to the audience that this tool responds to multidimensional problems in relation in particular to the financing of companies' equity, the relief of the pressure exerted on public finances through a more massive use of partnership with the private sector in the field of infrastructure or even improving Morocco's attractiveness to private investors, especially international investors.

He also noted that this instrument will target, via thematic and sectoral funds, areas deemed to be priority areas, in particular industrial restructuring, innovation and activities with high growth potential, the promotion of SMEs, infrastructure, agriculture. and tourism. "The target size of this fund of 45 million dirhams, whose contribution from the state has been set at 15 billion dirhams, or about 4% of national GDP, is both proof of the firm commitment of the "State in favour of revitalizing the wheel of the economy and the establishment of a vehicle endowed with sufficient resources to stimulate a new dynamic of private investment", he concluded.