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Interview

Amine Benabderrazik, President, Association of Multinational Pharmaceutical Companies in Morocco (Les Entreprises du Médicament au Maroc, LEMM): Interview
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Interview:Amine Benabderrazik What steps could be taken to successfully boost local production of pharmaceuticals? AMINE BENABDERRAZIK: Around 80% of medicines – both originals or generics – commercialised today in the Moroccan private market are manufactured locally. This is one of the highest local manufacturing rates in the region, and makes Morocco a good model for countries that want…
Interview

Abdellatif Jouahri, Governor, Bank Al Maghrib (BAM): Interview
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Interview:Abdellatif Jouahri What are the main monetary policies adopted by BAM in response to current conditions? ABDELLATIF JOUAHRI: As we predict inflation to remain moderate in the medium term and non-agricultural activities to see a gradual recovery, BAM has maintained an accommodative monetary policy in recent years, keeping its key rate unchanged at the historical low level of 2.25%.…
Interview

Kamal Mokdad, CEO and Head of International Global Banking, Banque Centrale Populaire: Interview
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Interview:Kamal Mokdad What is the potential for growth across the African continent for Moroccan banks? KAMAL MOKDAD: Today, sub-Saharan Africa is an area of expansion for Moroccan banks for several reasons. First, the business model developed by financial institutions in Morocco has demonstrated its resilience in terms of sustainability and its ability to support economic emergence through…
Viewpoint

His Majesty King Mohammed VI: Viewpoint
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Viewpoint:His Majesty King Mohammed VI Morocco has made great strides in infrastructure development, including in highway construction, highspeed railway, major ports, renewable energy facilities, and urban development and revamping. We have also made significant progress in promoting rights and freedoms, and consolidating sound democratic practice. Nevertheless, I realise that, though important,…
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Abdelmejid Faiz, Tax Partner, EY Maroc: Viewpoint
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Viewpoint:Abdelmejid Faiz The year 2019 was marked by the organisation of the country’s third national tax conference. The objective of this forum was to launch a genuine reform of the Moroccan tax system, the implementation of which could be spread over a maximum period of five to 10 years. It should be recalled that the last major tax reform in Morocco dates back to the mid-1980s and early-1990s,…
Viewpoint

Omar Sayarh, Managing Partner; and Mehdi Megzari, Partner, Dentons Sayarh & Menjra Law Firm: Viewpoint
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Viewpoint:Omar Sayarh Law No. 104-12 relating to freedom of prices and competition, instituted by Dahir (royal decree_ No. 1-14-116 on June 30, 2014, its application Decree No. 2-14-652 and Law No. 20-13 relating to the Competition Council instituted by Dahir No. 1-14-117 of June 30, 2014, are now fully in force since the publication of the list of the new members of the Competition Council…
Analysis

Improved operating environment for small businesses in Morocco

Posted OBG AdminPosted in Uncategorized

As the benefits of Morocco’s long-term development plans have become evident, through sustained GDP growth rates and an increasingly liberalised economy, passing on those benefits to the country’s small and medium-sized enterprises (SMEs) has at times eluded policymakers. Although SMEs account for approximately 95% of all companies in the kingdom, they are often faced with a more challenging…
Analysis

Morocco's new trade deal promotes trade in Africa

Posted OBG AdminPosted in Uncategorized

Although trade flows among African states remain below their potential, an ambitious project is under way to accelerate economic integration and significantly expand intra-continental trade. Spearheaded by the African Union (AU), the African Continental Free Trade Area (AfCFTA) agreement was signed in March 2018 and aims to substantially reduce both tariff and non-tariff barriers to trade.…
Analysis

Regionalisation plans set to boost economy in Morocco

Posted OBG AdminPosted in Uncategorized

Morocco is advancing with its regionalisation plans, with the goal of enhancing the transfer of critical development funds to the less-developed regions of the kingdom in order to curb economic and social inequalities. Over the past two decades the kingdom has seen a strong level of economic development that has allowed it to diversify its economy, attract considerable volumes of foreign direct…
Analysis

Morocco's low interest rates attract investors to the market

Posted OBG AdminPosted in Uncategorized

The 2009-13 period was marked by a strong deterioration of the twin deficit in 2012, when the budget deficit and the current account deficit slowed by 6.8% and 9.5%, respectively. However, with the market starting to recover since 2014, interest rates have begun trending downwards, prompting investors – both globally and in Morocco – to turn to alternative assets for higher yields. Challenges In…