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Morocco: The World Bank giving a financial grant to improve the “business climate”

The Moroccan government has signed a memorandum of understanding (MoU) to support and improve the business climate between Morocco and the International Finance Corporation (IFC), under which Morocco will receive a grant from the World Bank’s financial institution to improve the business climate and attract more foreign investment. A national survey was also launched to assess obstacles to business development in Morocco.

“Morocco is economically open and is looking to attract more foreign investment,” said Daoudi, minister in charge of public affairs and governance, in a speech on the occasion. “This gift from the World Bank’s international company aims to boost Moroccan competitiveness and facilitate employment opportunities”, he said.

“Morocco has many qualifications and its openness abroad makes it an economic kiss to many countries,” he added. “The government has a strong will to move forward in improving the business climate and attracting more investments in Foreign affairs “.

Referring to Morocco’s recent achievements and being able to occupy the 60th position in the International Business Climate Index, Daoudi said, “Morocco has taken great strides to compete in new fields such as high technology, automotive and aircraft, Tourism and others, “pointing out that” Morocco is a pioneer in the field of competitiveness and is ranked 60 and aspire to reach the 50th place before 2021.”

The Minister of Public Affairs and Governance referred to the role played by the International Finance Corporation of the World Bank. He said that the agreement signed with them “will allow Morocco to deal with it.” There will be a study of the Moroccan business environment and it will have all the potential for success.

The Minister also commended the members of the National Committee for Business Climate for the great work they have done to achieve a leap in the classification of Morocco in the business index and called on them to exert efforts to achieve the goal of reaching Morocco to the 50 most attractive countries to invest in Horizon 2021.

“We are ready to work with Morocco to improve the business climate by implementing reforms that will have a positive impact in the short term,” said Makhlouf, regional director of the International Finance Company in the Middle East and North Africa.

The Regional Director of the company described Morocco’s achievement in the Global Business Climate Index as “a great achievement, both at the Arab and global level, because the Kingdom has been able to achieve a quantum leap and progress in the business climate, so we have decided to sign with it the agreement to achieve the goal of the 50th level Within 2021”.

“The agreement is a mechanism to improve business management and business opportunity,” Makhlouf said. “Morocco is open and looks forward to attracting more foreign investment.”

“The business climate in Morocco is important and attractive and allows for positive results,” said Adrian Knaki, chairman of the Swiss-Moroccan Economic Cooperation Committee. He praised the economic cooperation between Geneva and Rabat.

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