The overall operating capital for industrial projects approved between May 2023 and November 2024 reached 140 billion MAD ($14 billion), a 1,000% increase compared to the period from October 2021-April 2023 (13 billion MAD), Head of Government Aziz Akhannouch said on Tuesday in Rabat.
Speaking at the House of Councilors’ question time, Akhannouch pointed out that this momentum was mainly driven by the new Investment Charter, which has served as a key mechanism for strengthening industrial competitiveness, by enhancing the legislative and regulatory framework to encourage both local and foreign investors to direct their investments toward priority sectors, including industry.
The Head of Government highlighted the incentive measures included in the new Investment Charter, which came into effect late 2022. These aim to improve the business climate and enhance the attractiveness of the industrial sector by offering financial and spatial incentives that help reduce costs for investors.
He pointed out that through this Charter, the government aims to create spatial equality in terms of investment distribution, in order to ensure that the various provinces benefit from the industrial investment efforts undertaken by the government. He further emphasized its importance for the Moroccan economy, which places particular focus on encouraging innovation and advanced technology in manufacturing industries.
The Charter encourages investment in sectors that represent the future for Morocco, such as electronics, automotive, and aviation industries, as well as emerging sectors like artificial intelligence, renewable energy, green hydrogen, and biotechnology, Akhannouch added.
In order to create the necessary conditions for the success of Morocco's investment ecosystem, including industrial investment, Akhannouch said that the government has simplified 22 administrative procedures related to investment. This has been achieved, in part, by digitalizing them via the "CRI-Invest" electronic platform and by reducing the number of required documents by 45%, mainly those concerning project eligibility, land mobilization, building permits, and operating licenses.
He also emphasized that the government is committed, within this reformist perspective, to implementing a new vision for Regional Investment Centers (CRI), namely focusing on strengthening their roles, simplifying investment procedures, and developing related agreements, while monitoring investment projects.
To ensure a swift response to investor requests, Akhannouch highlighted that it has been decided to delegate the review of investment files valued between 50 and 250 million dirhams to regional investment centers. This decision follows the provision of necessary tools to the Unified Regional Investment Commissions to accelerate the approval of investment files and projects within reasonable timelines.
He continued by stating that the government, aware of the importance of supporting very small, small, and medium-sized business, including those with an industrial focus, is working to finalize the specific legal framework aimed at establishing an investment support system for this essential component of the national economic ecosystem, which is a true driver of job creation.
The government will carry on its efforts in this regard to promote Morocco's investment advantages on the international stage, particularly by strengthening the role of Moroccan expatriates, he concluded.
