2023-10-08 18:25:59
The meeting, which focused on the need to accelerate Morocco’s post-Covid and post-earthquake economic recovery, took place in the presence of the directors general of the 12 CRIs. This meeting marks the start of the new phase of CRI reform, according to Royal directives.
The CRIs are now responsible for supervising the entire investment process, improving its efficiency and providing better support services to project promoters until final implementation.
“With the change of supervision that took place last May, this meeting marks the launch of the new level of the reform of the CRIs, which are called upon to supervise the entire investment process and to increase its efficiency as well as to ensure better support services for the benefit of project leaders until their final realization”, indicates the press release from the ministry issued to this effect.
This strategic alignment will mainly define the new positioning of the CRIs and draw the roadmap for the next stage of their reform while building on the achievements made within the framework of Law 47-18.
“This strategic alignment will make it possible in particular to define the new positioning of the CRIs and to develop the roadmap for the new level of their reform, while capitalizing on the achievements made within the framework of law 47-18 relating to the reform of the Regional Centers of investment and creation of Unified Regional Investment Commissions,” we explain in the press release.
During this meeting, Jazouli stressed that this new phase is part of the government’s efforts to make private investment the engine of economic recovery, with a view to achieving the objectives set by HM the King. . These objectives include attracting 550 billion Moroccan dirhams in private investment and creating 500,000 jobs by 2026.
“Investment is a fundamental condition for the economic transformation of the country. However, it is important to consider that the current economic context is fraught with uncertainty. We are still emerging from the fallout from the Covid-19 crisis, followed by a global economic slowdown and marked inflation, not to mention the rise in interest rates from Bank Al-Maghrib. All of these elements do not favor a robust investment policy. It would be wiser to observe signs of recovery before deploying the MAD 500 billion in public investments,” Anas Abdoun, Senior Analyst Africa & Middle-East at Stratas Advisors, recently told us.
With the new investment law in force, the creation of the National Investment Committee, unified investment governance under the leadership of the Chief Executive and the Business Climate Plan 2023-2026, the Ministry of Investment is now focusing on the CRI strategy in terms of territorial investment.
This proactive approach demonstrates Morocco’s commitment to fostering a favorable business environment and exploiting the potential of private investment as a catalyst for economic recovery, in accordance with the vision set by HM King Mohammed VI.
The strategic alignment of the CRIs is poised to play a central role in achieving these ambitious goals and ensuring that Morocco remains an attractive destination for private investment in the years to come.
“After the operationalization of the new Investment Charter, the establishment of the National Investment Commission, the unification of investment governance around the head of government and the launch of the improvement roadmap of the 2023-2026 business climate, it is the strategic alignment of the CRIs, key players in investment in the territories, which will be at the heart of the action of the Investment Department for the months to come,” concludes the press release.
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