Morocco on course to double private investments by 2035
Morocco wants private investors to take the lead in spurring economic growth by increasing their share in total investments in the country to two-thirds, Moroccan investment and economy minister said.
Morocco will adopt an investment charter that is designed to encourage private investment in the country, where the state was historically the main investor, finance minister Nadia Fettah Alaoui said at a session on Morocco held within the framework of the EBRD’s annual meetings convened in Marrakech.
Public investment in Morocco represents about 30% of DGP with a low impact on growth, according to economists.
The new charter will include incentives and a roadmap to promote private investments and bring its share from a third to two-thirds, Mohcen Jazouli Minister delegate in charge of investments said.
Public investments have enabled Morocco to have world-class infrastructure that is conducive to private investments, Mohcen Jazouli said.
Speaking on the same occasions, Industry minister Ryad Mezzour said Morocco could make the leap from a low-cost destination to a “best cost destination” for investors, adding that the country’s potential to produce clean energy positions it to be a competitive destination for industries.