The Investment Charter was enacted through Framework Law 03/22, which also lays the foundations for the New Development Model and establishes the promotion and encouragement of domestic and foreign investment in the country to achieve economic acceleration and job creation.
In a speech delivered on 8 October 2021, King Mohammed VI said: “For its part, the state will continue this national effort, in particular through public investment, support for businesses and the adoption of incentive measures in their favour (…). This same logic must guide the implementation of the reform of public enterprises and establishments and preside over the fiscal reform, which must be reinforced as quickly as possible with a new competitive investment charter.”
This Investment Charter, which came into effect in 2022, has nine fundamental objectives in terms of investment development and promotion:
- Creation of stable employment.
- Reduction of territorial disparities.
- Orientation of investments towards priority sectors of activity and professions of the future.
- Strengthening Morocco’s attractiveness as a continental and international hub for foreign direct investment.
- Boosting exports and the development of Moroccan companies at the international level.
- Encouraging the replacement of imports with local production.
- Achieving sustainable development.
- Improving the business climate and simplifying the act of investing.
- Growth of private investment within the overall investment portfolio.
To achieve these objectives, the Investment Charter is structured around three pillars:
- Investment support mechanisms, with four different devices:
- Main investment support device: intended for projects with a total investment of 50 million dirhams or more and the creation of 50 stable jobs, or a lower investment and the creation of 150 stable jobs. It provides for bonuses for the creation of stable employment, the promotion of female employment, professions of the future (digital technology, the pharmaceutical industry, renewable energies, the shipbuilding industry, mobility), sustainable investment projects and projects with local integration.
- Specific support mechanism for strategic projects: for projects with a minimum investment of two million dirhams and related to water, energy, food or health security; involving the creation of a significant number of new jobs; have an impact on Morocco’s economic influence and strategic positioning; have an impact on the development of sectoral activities; contribute to the adoption of cutting-edge technologies; or are related to the defence industry.
- Specific support mechanism for the international development of Moroccan companies: aimed at promoting Morocco’s economic influence internationally by supporting Moroccan investments on the African continent. The aid will be subject to conditions, such as the fact that it will not result in any job losses in Morocco.
- Specific support mechanism dedicated to micro, small and medium-sized enterprises: investment projects led by this type of enterprise, which make up the majority of the Moroccan business fabric, will benefit from special measures beyond the financial premium, particularly in terms of support for financing, training and project structuring.
- Business climate map, with seven priority projects:
- Simplification of procedures and administrative decentralisation.
- Facilitating access to land for companies wishing to establish themselves in Morocco.
- Strengthening logistical competitiveness.
- Facilitating access to renewable energies.
- Implementing tailored training programmes.
- Promotion of R&D activities and access to new technologies.
- Diversification of financing methods.
- Decentralised structure of investment control bodies, comprising:
- A new government department dedicated to investment, reporting to the Head of Government: the Ministry of Investment, Convergence and Public Policy Evaluation, currently headed by Karim Zidane.
- A new National Investment Commission, chaired by the head of government and with the Moroccan Agency for Investment and Export Development (AMDIE) acting as its secretariat. This Commission approves investment agreements between the state and investors and can grant strategic status to some of them.
- At the local level, the Regional Investment Centres (CRI), which also report to the Head of Government, are the one-stop shop for investors and are responsible for the implementation of all investment projects carried out in Morocco.
From a quantitative point of view, the new Investment Charter aims to generate more than 550 billion dirhams in private investment and create 500,000 jobs in its first four years of operation, until 2026.
Since its launch in March 2023, it has already supported 115 projects, representing a total investment of 173 billion dirhams and the creation of 96,000 jobs.
This partial success demonstrates the effectiveness of the reforms undertaken and Morocco’s ability to attract foreign capital.
Rephrase in a different way as if you were a native American speaker as a content creation expert and do not talk about yourself or your experience in the text and do not show yourself as an artificial intelligence who wrote and fill the bullet point in the topic and speak the heart of the topic itself and dont take date of blog in ther first and dont take text like box of newsliter subscribe on post from contentand romove all linke insert in content and and remove all affiliate disclosure phrases on content like this “This post may contain Amazon or other affiliate links that allow us to earn a small commission at no extra cost to you. Please see our Disclosure Policy for more info” and “#” put in its place bullet point, and romove name of the web site or his links we are take a content from our new creation, and don’t publish clone new content more than just one time
