The contents of the new development model stipulate encouraging private investment in Morocco to be an engine of employment, to reduce spatial disparities and to advance the national economy.
In this context, Rashid Sari, an economic analyst, confirmed that the development model report spoke of raising the proportion of the private sector to 65 percent, or two thirds, which is in line with what is established in the new investment letter, which was approved by the Council of Ministers on July 13, adding that By 2035, the budget for investments in the private sector must exceed 350 billion dirhams.
The same spokesman explained, in statements to Hespress, that among the bases on which the new development model for economic takeoff is based is that exporting companies reach 12,000 companies, which can only be achieved by lowering a set of measures that relate to infrastructure. , equipment and experience, highlighting Those companies that are going to be in charge of the export issue must have a significant volume of investments.
Sari added that the new development model speaks of the creation of 3,000 start-up companies, stressing that attracting investment requires a set of criteria, the most important of which is the availability of a business climate and infrastructure, in addition to working in tax reform. In this context, he pointed out the need to activate the corresponding laws, and also highlighted the importance of the framework law related to public institutions, adding that the time had come to arm them or to close some of them, so that the investments would not be exposed. to obstacles, in reference to the speech from the throne, which underlined the importance of attracting investment, in the face of a critical global situation, and to combat what would block the entry of investors to Morocco.
Moroccan banks are also responsible for the success of these workshops, which Sari asked them to be more flexible, reduce interest rates and go from being mere financial entities that grant loans to contributing to projects and investments.
On the other hand, the economic analyst called on the Government to activate the investment letter, underlining the need to accelerate its ratification in Parliament, even if an exceptional session is required.
Sari also drew attention to the diversity of investments, and that importance be given to “Made in Morocco” investments, adding that the Kingdom has achieved a level of success in some sectors such as the automotive and aeronautical industries, and seeks to achieve greater progress in the field of renewable energies, as mentioned in the latest report by “Forbes” The American states that Morocco will become a kiss in this field, not only for Africa, but also for Europe and the rest of the world .
For its part, the Ministry of Investment, Convergence and Evaluation of Public Policies revealed that it is working to unload an integrated strategy in order to make investment the center of Morocco’s development strategy.
In this regard, and to download the content of the government program, the ministry confirmed in a response to this, which Hespress reached, that work is being done to make the new investment letter a reality, highlighting that it is in line with the recommendations. of the new development model, since it will contribute to stimulating and incentivizing investment and improving climate business, and through this it will contribute to creating economic and social dynamism that benefits the country.
The ministry explained that the new letter contemplates reversing the current equation, in which public investment exceeds private investment, occupying two thirds, by stimulating the private sector and making it the main actor in the field of investment, reaching an average of two-thirds by 2035 instead of one-third today.
The letter also seeks, according to the same source, that the investment contribute to the creation of added value and employment opportunities. To this end, the charter includes four basic support systems in accordance with the Kingdom’s new requirements, a basic system that includes aid for joint investment referred to in article 12 of this framework law, and aid for investment additional subsidy called “earth grant”, is granted to investment projects completed in the regions and regions referred to in article 13, an additional investment subsidy called “sectoral subsidy” is granted to investment projects completed in the priority sectors of activity referred to in article 14.
The charter also includes special rules for investment projects of a strategic nature, for small, small and medium-sized companies, and to promote the international presence of Moroccan companies.
The ministry considered that these measures will stimulate national private investment and attract foreign investment, in accordance with an approach aimed at generating more opportunities and permanent jobs, and achieving spatial justice in the distribution of investment, in a way that ensures the preservation and development of regional specificities.