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Morocco targets top 50 global economies by 2021

The government is intensifying efforts to integrate the top 50 best economies in the world in terms of the quality of the business climate by 2021, by engaging in structural reforms in favor of Moroccan business, said the head of government Sâad Eddine El Othmani.

In response to a question on “Business Climate Reforms” at the monthly General Policy Room in the House of Representatives, he pointed out that the executive has set itself the ambitious goal of being part of Top 50 global economies in terms of quality of business climate.

In this regard, he explained that the emphasis is on promoting international best practices in the business world, such as the simplification and digitization of administrative procedures, the modernization of the legal and legislative frameworks of the enterprise, the universalization of the single window as well as the improvement of benefits in their favor.

To achieve this strategic objective and maintain the upward trend and the privileged position of Morocco in improving the business climate, he affirmed that the National Committee for the Business Environment will proceed with the implementation of the programmed reforms, part two of the multi-year action plan 2018-2021. This committee will monitor the implementation of the reform of the Commercial Code relating to the recovery of firms in difficulty through the adoption of implementing texts relating to trustees and the digitization of administrative procedures.

It is also a question of generalizing the dematerialization of the services related to the transfer of the property, as well as documents and procedures in the field of foreign trade, in addition to the adoption and the implementation of the project of creation of the companies by electronic way.

In addition, El Othmani affirmed that an action plan to prepare detailed technical reports on all the indicators included in the Doing Business report, to establish governance mechanisms for monitoring reforms and projects carried out, complete the proposed reforms and projects, and assess their impact on improving the indicators in this report.

At the same time, he reviewed some important steps such as reducing the cost of setting up a business through the exemption of registration fees, the facilitation of the transfer of ownership, the strengthening of transparency land register and cadastre, simplification of export and import operations and improvement of the infrastructure of Tangier-Med port.

All these achievements have allowed Morocco to occupy very advanced positions on a global scale concerning indicators as diverse as those related to the granting of building permits (18th in the world), to the payment of taxes (25th), to the creation of companies (34th), the connection to the electricity network (59th), foreign trade (62nd), investor protection (64th) and the transfer of ownership (68th), he said.

In this context he highlighted a series of reforms and indicators that have gained recognition from international institutions, recalling that Casablanca Finance City is now positioned in the 28th place in the world over 100 financial centers, as first center on the African scale, gaining seven places compared to last year.

On investment support measures and improving the business climate, El Othmani underlined that the executive is working to pursue the various structural reforms aimed at promoting the business and investment environment and supporting small and medium-sized enterprises and companies to help them develop and implement investment projects in a secure and incentivising environment.

In the same vein, the Head of Government pointed out that the reform of the Regional Investment Centers (RICs) is being activated, citing in this respect the law on the reform of these Centers and the creation of the commissions. Investment Funds, currently under consideration in the House of Representatives. He also referred to the adoption of the Charter of Administrative Deconcentration, which accompanies the work of advanced regionalization and promotes the convergence and harmony of public policies.

In this regard, he underscored the Government’s determination to develop the draft new Investment Charter as an incentive-based legal framework for investment through simplified measures to improve the business environment, strengthen attractiveness and competitiveness of the Kingdom and to support sectoral strategies.

The effort to improve the business climate is based on a comprehensive approach with a view to achieving positive results that can attract the productive investment creating wealth, improving the living conditions of citizens, combating against poverty and the reduction of social disparities, he said.

Given the place and missions of the National Business Environment Committee, created in 2010, to support reform governance, El Othmani concluded, the executive continues to promote its role as space for consultation and joint action between the public-private sectors to stimulate business development in Morocco.

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