Morocco Experienced 'Historic Turning Point' in Encouraging Private Investment - BritCham Chairman
Morocco has experienced "a historic turning point" in terms of encouraging and promoting private investment, said Thursday the chairman of the British Chamber of Commerce for Morocco (BritCham) Stephen Orr.
During a webinar organized by BritCham, Orr said that the economic, social, institutional, technological and environmental changes "have made it imperative to reform the state's investment policy."
He added that the new investment charter promulgated in December 2022 and which saw its first decree implemented in January of this year is seen as "the strategic roadmap to give new life to investment in Morocco."
It will thus make Morocco a highly competitive economy, while enhancing the role of private actors and the Moroccan production system, he argued.
He also said that this new charter strengthens the collaborative dynamics between public and private actors and boosts national companies through improvements in taxation and governance.
For his part, the Director of Investment at the Ministry of Investment, Convergence and Evaluation of Public Policies, Hicham Chaoudri, noted that the dynamics of private investment is at the heart of Morocco’s strategy for economic recovery, recalling that the Investment Charter aims, in this sense, to create stable jobs, reduce territorial disparities, enhance the priority sectors and occupations of the future, make the Kingdom a continental and international hub and promote the export and development of Moroccan companies internationally.
He also said that the Charter, which is characterized by transparency, objectivity and readability by investors has given an important place to local integration, sustainable development and facilitation of investing, noting that today nearly 40% of procedures related to investment have been reviewed.
MAP: 30 March 2023