On Friday 14 October in Rabat, King Mohammed VI presided over the opening ceremony of the first parliamentary session. On this occasion, the Sovereign set a new target for the government. After addressing the issue of water, the king was very clear on the need to increase the participation of the private sector in investment, mobilize 550 billion dirhams of investment by 2026, create 500,000 jobs and provide the country with a national pact for investment.
In the sovereign’s speech, investment occupies a prominent place. Accompanied by Crown Prince Moulay El Hassan, King Mohamed VI set the course for the next four years. “Today, we are betting on productive investment as an essential lever for the revival of the national economy and the anchoring of Morocco in promising sectors,” he said.
At present, the private sector accounts for only one third of investments in the kingdom. This participation is very low according to the sovereign. And to correct this, the obstacles that continue to hinder an effective revival of national investment at all levels must be removed. Hence the development of an Investment Charter. The latter is supposed to give “a tangible impulse to the attractiveness of Morocco for private investments, both national and foreign”.
In addition, the sovereign urged all the actors concerned to remain mobilized and display a responsible attitude in order to promote this vital sector (investment) for the development of the kingdom. According to him, “these sectors offer employment opportunities to young people and provide sources of funding for various social and development programs”.
For this reason, King Mohammed VI has called for financial support to be provided to project holders, for particular attention to be paid to the initiatives of the Moroccan community abroad, and for the removal of obstacles to foreign investors.
The aim being “that the private sector occupies its rightful place in the field of investment, that of an effective driving force of the national economy,” he said, inviting the government, in partnership with the private and banking sectors, to translate their respective commitments into a “National Pact for Investment”.
This secure mechanism set up to support investment in Morocco should make it possible to achieve the ideal of “550 billion dirhams of investment and to create 500 thousand jobs, during the period 2022-2026,” the king said.
