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    Morocco’s Investment Appeal Among Highest in Africa

    Saad Eddine El Othmani highlighted the positive results of the CRI reforms in leveraging Morocco’s investment appeal.

    09 Jun 2021

    Rabat - Morocco’s Head of Government, Saad Eddine El Othmani, explained the results and perspectives of the reforms of the regional investment centers (CRI) in his speech to the house of representatives at the Parliament meeting on Monday.

    The CRI was established in 2002 to promote investment and support businesses. The recent reforms aimed to improve the CRI's performance.

    The head of government underscored the efforts his administration has deployed to initiate the reforms aimed at improving the business environment in Morocco as well as encouraging investment by providing a more streamlined investment process.

    El Othmani's commission oversaw the reforms, which focused on three axes. The project diversified businesses while allowing them to maintain autonomy.

    Additionally, the CRI encouraged the creation of unified regional investment commissions, to speed up the execution of projects.

    The reforms also sought to improve the quality of services offered by the CRIs to better assist investors and provide incentives to attract entrepreneurial projects.

    By simplifying the administrative procedures and eliminating the obstacles that have long hindered investments in Morocco, this substantial improvement positively impacted the climate of business in the North African country.

    A 2020 report by the World Bank ranked Morocco 53 out of 190 in “doing business” worldwide with a score of 73.4, which positions the country 2nd in Africa behind Rwanda.

    In the Rand Merchant Bank’s 2019 index report, Morocco was classified after Egypt as the second-best country for investments. The report bases its analysis and ranking on assessing each African country's investment potential.

    According to El Othmani, the numbers attest that there has been significant leverage in Morocco's investment appeal.

    He noted that Morocco’s investment volume has significantly increased by 154% in 2020, attaining 151.8 billion in 2020.

    For the creation of employment opportunities, El Othmani mentioned an increase of 64% from 93,156 planned jobs to 152,378 in 2020 after the adoption of the reforms.

    He underlined that the number of files submitted to the CRI administration increased by 49%, reaching 3,361 in 2019. In addition, he explained that the average time taken to process administrative files has shrunk; it stood at 20 days in 2020, compared to 120 days in 2019.

    According to Moroccan news outlet le Matin, CRI has helped create over 20,466 new businesses and has promoted the development and growth of 18,111 companies.

    'Despite the short period to launch the actual working of this structured workshop, its positive effects have begun to appear, as evidenced by the recorded indicators,' concluded El Othmani.

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