As regards the business environment, the structural reforms we have introduced have made it possible to improve Morocco's image and standing in this respect.
Despite the results achieved, however, further efforts are still needed to unlock the nation’s full potential, encourage private initiative, and attract greater foreign investment.
Excerpt from the Speech of His Majesty the King, may God Assist Him, at the Parliament on the occasion of the opening of the 1st session of the 2nd legislative year of the 11th legislature, on October 14, 2022.
Business climate is an essential lever to sustainably boost private investment in Morocco. Thanks to structural reforms undertaken under the enlightened leadership of His Majesty the King, may God assist Him, Morocco has made significant progress in improving the business climate over the past 15 years. These advancements have enhanced its attractiveness and positioning as a preferred destination for investments.
To strengthen investor confidence, improving the business climate constitutes the second pillar of the new investment charter.
A significant and continuous improvement in the business climate and the facilitation of investment will be key assets offered by the Kingdom of Morocco to achieve the strategic objectives of mobilizing 550 billion dirhams of private investment and creating 500,000 jobs during the period 2022-2026.
Roadmap for Improving the Business Environment 2023-2026
The Government, in consultation with private and public partners, has established a new strategic roadmap for the year 2026 that addresses the Kingdom's priorities in improving the business climate.
Officially launched on March 15, 2023, this roadmap aligns with the Royal High Directives aimed at unleashing energies, maximizing national potential, promoting private initiative, and attracting more foreign investments.
Thus, the roadmap addresses priority areas to stimulate investment and foster the emergence of a new generation of investors and entrepreneurs, taking into account:
- Recommendations from the New Development Model
- The government program
- The framework law forming the Investment Charter
- Proposals from the CGEM's white paper and those of other private and institutional actors
- Improvement measures submitted by public and private stakeholders at the territorial level.
Roadmap Pillars
This new roadmap is structured around three main pillars and a transversal pillar, encompassing 10 priority initiatives.
- Enhancing the business legal framework (including: payment deadlines, access to public markets, alternative dispute resolution methods, electronic business registration);
- Optimizing, digitizing, and decentralizing administrative procedures;
- Strengthening coordination and monitoring in business environment matters.
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Mobilization of funding for a more effective economic recovery;
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Improvement of access to renewable energies and industrial decarbonization;
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Enhancement of visibility and access to land;
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Reinforcement of logistical competitiveness.
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Development of support mechanisms for Small and Medium-sized Enterprises (TPME) and startups;
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Promotion of innovation, research and development activities, and entrepreneurial culture;
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Reinforcement of training offerings and the performance of human capital.
The transversal pillar aims to strengthen ethics, integrity, and prevent corruption.
Key figures
Roadmap for Improving the Business Environment 2023-2026
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Priority Initiatives
0%
of the initiatives from the 2023-2026 roadmap have already been launched
Simplification of procedures
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reduction in the documents requested from the investor for the 22 acts studied in the CRUI at the CRI level.
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Priority Investor Paths currently being optimized end-to-end.
Reforms
Several transformative reforms initiated by the Kingdom over the past 20 years under the enlightened leadership of His Majesty King Mohammed VI, May God Assist Him, aimed at facilitating the act of investing and improving the business climate, including:
- Implementation of advanced regionalization,
- Adoption of the national charter for administrative decentralization,
- Reform of Regional Investment Centers and the establishment of unified regional investment commissions,
- Simplification of procedures and administrative formalities,
- Establishment of the Mohammed VI Investment Fund,
- Development of public-private partnerships,
- Adoption of the framework law reforming taxation,
- Reform of public institutions and enterprises,
- Reform of the legal framework for public procurement and payment deadlines,
- Establishment of a legal framework for industrial zones,
- Reform of the state's policy on investment development and promotion through the adoption of a new Competitive Investment Charter.
Achievements
Development and adoption of the framework law 03-22 constituting the Investment Charter, which incorporates, in addition to investment support mechanisms, strategic cross-cutting measures for improving the business climate.
A 45% reduction in the number of documents required from project holders, through the simplification of 22 administrative acts, among those most frequently requested by investors and processed at the CRI/CRUI level, relating to: project acceptability, urban authorisations, access to land and operation.
Acceleration of the implementation of Law No. 55-19 through the adoption and publication of 4 implementing decrees to better regulate the deadlines for issuing the documents necessary for the implementation of investment projects.
Decentralization to the territories of 15 administrative procedures related to investment, including permits, approvals, opening and operating licenses, etc. Strengthening provisions for the development, marketing, and management of industrial zones through the adoption and publication of Law No. 102.21.
Adoption and entry into force of a new decree on public procurement.
Operationalization of the Mohammed VI Investment Fund.
Enactment of Law No. 95-17 concerning arbitration and conventional mediation, published in the official gazette on June 13, 2022.
Establishment of a new framework promoting the reduction of payment delays through the implementation of Law No. 69-21.
Approval of the draft law 82-21 concerning the self-production of electrical energy, aiming to encourage the private sector, especially small, medium, and large enterprises, to invest more in the field of electricity production. This is intended to meet their electricity needs at competitive prices and better manage their consumption.