The Minister of Economy and Finance at “Bawabate al-Khaleej” Seminar : 08/05/2018

The Minister of Economy and Finance at “Bawabate al-Khaleej” Seminar

Mr. Mohamed BOUSSAID, Minister of Economy and Finance, took part in the "Bawabate al-Khaleej" Seminar, which opened on Tuesday 8th May 2018 in Manama.

During this meeting, Mr. BOUSSAID asserted that the economic diversification policy that Morocco has adopted for years enabled the country to protect its economy and withstand external shocks. Thanks to this diversification, based on several strategic sectors and which focuses on strengthening the economic partnership with the Gulf countries, India, China and Russia, Morocco successfully managed the 2008 global economic crisis as well as its negative impacts.

Mr. BOUSSAID added that the economic diversification and the signing of new partnerships provide the basis for a strong, resilient national economy capable of absorbing economic shocks.

According to the Minister, Morocco constantly aspires to forge new partnerships and attract investment towards vital strategic sectors, including renewable energy, industry, transport and agriculture where the Kingdom has made "a significant progress and important achievements" through the efforts made by the Government under the enlightened leadership of His Majesty King Mohammed VI.

On another note, Mr. BOUSSAID noted that among the important issues of concern to several countries was the ability of the general budget to successfully stimulate growth, create jobs and channel private investments, particularly in the light of geostrategic conflicts in the world and fluctuations in commodity prices.

Mr. BOUSSAID also stated that these countries must diversify their respective economies, adopt a new fiscal policy and rationalize their public spending in order to have the necessary financial means to pursue development processes.

The «Bawabate al-Khaleej» Seminar, which will run until Thursday, is attended by nearly 500 international investors and officials who will discuss investment opportunities in the Gulf region. The plenary sessions of this event will examine the opportunities and challenges seen in the context of economic change in the Gulf, the development of human capital, the effects of new technologies in addition to opportunities arising from cooperation between Gulf countries and international partners such as the United States of America, Europe and China.