It is in a global economic context that has been greatly shaken by the current Covid-19 epidemic that the business intelligence firm Oxford Business Group (OBG) is launching its new report on the Moroccan economy The Report: Morocco 2020.
This edition, which marks the 15th anniversary of OBG in Morocco, was produced in partnership with AMDIE, EY, Dentons Sayarh & Menjra and CFG Bank.
Morocco, which recorded growth estimated at 2.7% in 2019, has made considerable progress in many areas.
Major infrastructure projects completed or underway, particularly in the renewable energy sector with the Noor solar power plant, or even transport with the commissioning of the Tanger Med II port extension, which makes the Moroccan port the first In particular, there are measures to improve the business environment for foreign investors through a new investment charter or long-awaited tax reforms. These efforts have borne fruit, raising Morocco to 53rd place in the Doing Business ranking of the World Bank.
The Report: Morocco 2020 looks back at the various strategies implemented by the Moroccan government to diversify the economy and ensure the economic attractiveness of the different regions of the kingdom and thus reduce inequalities.
The advanced regionalization project is described in the chapter dedicated to the economy, as well as the measures taken to improve access to credit and support SMEs, identified as the engine of the Moroccan economy and whose development has been elevated to the rank priority by King Mohammed VI. The reform of the tax system, the major project of 2019 in Morocco, also occupies a prominent place in the new edition of the OBG report.
These changes mean opportunities for investors in many sectors, such as industry, agriculture, aquaculture, tourism and even ICT.
The Report: Morocco 2020 thus offers in its chapter dedicated to the industry a detailed analysis of the automotive segment, the kingdom having indeed succeeded in establishing itself in a few years as a destination of choice for international automobile manufacturers. Two interviews are to be found in the new edition of the report on this subject, with UNIDO Director General Li Yong as well as with the former President of AMICA, Mohammed Amal Guedira.
Many other major economic and political actors have been interviewed by OBG for the drafting of this new report in order to offer its readers a complete overview of the Moroccan economy and short and medium term prospects. Kamal Mokdad, Managing Director of the Banque Centrale Populaire, shares for example his analysis of the development of Moroccan banks in Africa in the Banking chapter and Gerd Müller, German Federal Minister for Economic Cooperation and Development talks about the bilateral relations between the two countries and the resulting opportunities.
Although there are great uncertainties as to the repercussions of the Covid-19 pandemic on the world economy, it is nevertheless to be hoped that the strategies put in place by Morocco and the progress made will allow the country to cope as best as possible.