Casablanca- In a concerted effort to enhance the country’s business environment and spur investment, Morocco is actively implementing a roadmap aimed at stimulating both public and private investment to create job opportunities. This commitment was underscored by Mohcine Jazouli, the Minister Delegate to the Head of Government in charge of Investment, Convergence, and Evaluation of Public Policies.

Jazouli revealed that 70% of the initiatives outlined in the 2023-2026 roadmap for improving the business climate have already been launched since their announcement in March 2023. This roadmap, designed to streamline the investment process and attract investors, includes approximately 46 priority initiatives spanning ten fundamental sectors. Jazouli emphasized the collaborative efforts between the delegated ministry and the National Business Climate Committee to track the progress of these initiatives in coordination with relevant authorities.

The government has demonstrated its commitment to boosting public investments by allocating a substantial budget increase of 335 billion dirhams ( approximately $ 34.53 billion USD) for public investment in 2024, marking an 11% rise compared to 2023. Additionally, the launch of infrastructure projects adhering to international standards aims to improve the business climate both nationally and regionally, aligning with ambitious sector strategies.

In tandem with efforts to bolster public investments, the government is strategically focused on enhancing and attracting foreign investments in the private sector. Jazouli reiterated the government’s dedication to this endeavor, as evidenced by the implementation of the roadmap initiatives aimed at fostering a favorable business climate.

Morocco’s stability and ambitious development vision position it as a prime destination for investments on a continental and global scale. Jazouli highlighted the reforms spearheaded by King Mohammed VI, which have contributed to the Kingdom’s progress in the World Bank Group’s “Doing Business” ranking. The upcoming inclusion of Morocco in the “Business Ready” report in 2024 further underscores its attractiveness to investors.

Moreover, the government is actively working to strengthen regional investment centers to oversee the investment process comprehensively. The implementation of the new investment charter aims to mobilize 550 billion dirhams ( approximately $ 56.7 billion USD)  from private investment and create 500,000 jobs between 2022 and 2026, in line with the goals set by King Mohammed VI.

Furthermore, efforts are underway to support investment projects through territorial grants covering 80% of the Kingdom’s prefectures and regions. The establishment of unified and decentralized governance for investment seeks to streamline processes and promote efficiency.

Against this backdrop, the National Investment Committee recently approved investment projects worth over 100 billion dirhams ( approximately $ 10.3 billion USD)  during its last two meetings. These projects are expected to create approximately 43,000 jobs across nine regions, further underscoring Morocco’s commitment to fostering economic growth and prosperity through strategic investment initiatives.