While mining activities in Morocco have for the largest part traditionally centred on phosphates, a new mining code adopted by the legislature in February 2015 is expected to develop the country’s resource portfolio. This will in turn revive activity in a number of underdeveloped segments once it has been voted into law. Morocco is host to significant mineral resources, including the largest phosphate…
Although affected by a trading slowdown in recent years, indicators in the second half of 2014 have displayed some signs of recovery in Morocco’s industrial sector. According to preliminary data released by the High Planning Commission (Haut Commissariat au Plan, HCP), the sector’s value added, excluding oil, refining increased from 0.8% in 2013 to 1.8% in 2014. Acceleration Plan While certain…
Interview: Jack Lang How should Morocco’s role in the region evolve, and what strengths can it leverage in this regard? JACK LANG: Morocco is very active in the Mediterranean, as its strategic foothold in the region, historical links with Europe, and political and economic stability make the kingdom a powerful and privileged regional partner. The country has the potential to be the link for a new…
Interview: Abdel-Ilah Benkiran How have oil prices affected the subsidy reforms? ABDEL-LLAH BENKIRAN: At the start of this government’s term, Morocco’s compensation fund amounted to Dh57bn (€5bn), or nearly 26% of the national budget a considerable amount for a country with revenues of less than Dh220bn (€19.6bn). We were firmly convinced that this situation is unsustainable and had…
Interview: Mohamed Boussaïd What kind of impact have recent cuts in energy and food subsidies had on the country’s economy? MOHAMED BOUSSAÏD: Subsidies have exposed the state budget to the volatility of global markets without resulting in any effective change in income distribution or improvements in economic competitiveness. With the increase in prices over the past few years, the cost of this…
Interview: Tas Anvaripour What are the biggest challenges for financing infrastructure projects in Africa? TAS ANVARIPOUR: Some African governments have successfully raised funding on international capital markets, as well as from growing pools of domestic capital, such as pension funds. Much of this funding has been used to finance critical infrastructure, particularly in transport and energy. International…
Interview: Hamid Ben Elafdil What is the outlook for the business environment? HAMID BEN ELAFDIL: Thanks to the creation of the National Committee for Business Environment (Comité National de l’Environnement des Affaires, CNEA) and its numerous activities, there has been a positive evolution in the business legal framework. The CNEA has directed its efforts towards simplifying administrative procedures,…
Interview: Abdellatif Jouahri What changes are we likely to see resulting from Morocco’s new Banking Act? ABDELLATIF JOUAHRI: The act opens new perspectives for the sector’s development, in line with promoting economic growth and financial inclusion. The integration of participation banks is one of the act’s main contributions. This new activity should contribute to the diversification of funding…
Interview: Hamid Ben Elafdil What is the outlook for the business environment? HAMID BEN ELAFDIL: Thanks to the creation of the National Committee for Business Environment (Comité National de l’Environnement des Affaires, CNEA) and its numerous activities, there has been a positive evolution in the business legal framework. The CNEA has directed its efforts towards simplifying administrative procedures,…
Interview: Dominic Jermey What are the prospects for trade development? DOMINIC JERMEY: Morocco is an important and interesting growth market, both in its own right and as a springboard to Africa for UK businesses. Our trade relationship is diverse and strong. Last year goods exported from the UK to Morocco were up by 28%, while imports from Morocco to the UK increased by 19%. Our bilateral…
