A place to do business is Morocco. According to the most recent report by the Royal Institute for Strategic Studies (IRES) on the development of Morocco’s international positioning, this has happened. The Kingdom is unquestionably one of the “Best Countries for Business,” according to La Vie Éco’s weekly report.

Morocco’s ranking is unquestionably the result of “a significant improvement in its international positioning under this index,” claims the weekly La Vie Eco. In this regard, it should be noted that the Kingdom experienced a significant improvement between 2007 and 2019, rising no less than 35 places, in part as a result of actions taken to improve the general business climate.

Another figure confirms this assertion: between 2004 and 2020, Morocco has achieved a jump of 75 places on the index “Doing Business”. A progress obtained “thanks to the Kingdom’s advances in the field of business creation, property transfer, obtaining loans, protection of minority investors and cross-border trade”, reports La Vie Éco.

The Global Entrepreneurship Index is a new indicator that is mentioned in the weekly. On the continent, the Kingdom comes in fifth place. This ranking is “favored by Morocco’s capacity to develop new products, promote the emergence of start-ups, and integrate the use of new technologies,” the IRES report states.

In terms of investment attractiveness in the MENA region, Morocco remains an attractive country. Proof of this is its presence in the top 20 “Best Cost” destinations of the Global Manufacturing Risk Index. In other words, Morocco is “on the world’s radar”, says La Vie Éco.

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The Moroccan economy’s growth rate for 2021 has been increased upwards by the International Monetary Fund (IMF). It is predicted to have the greatest growth rate among Middle Eastern and North African countries (MENA).

Morocco’s economic recovery is showing signs of strength. Following the World Bank’s revision of the national economy’s growth projection for 2021 (from 4.2 percent to 5.3 percent) last week, it is now the time of the International Monetary Fund, another Bretton Woods organization, to raise its anticipated growth rate for the Kingdom.

Morocco’s growth rate for 2021 is now expected to reach 5.7 percent, according to the IMF’s “World Economic Outlook,” released on Tuesday, October 12, 2021. This is 1.3 percentage points higher than the IMF’s April predicted rate.

Morocco, like the World Bank, is predicted to have the strongest growth rate in the MENA area, according to IMF figures. Morocco outperforms Egypt (3.3 percent), Tunisia (3%), Algeria (3.4 percent), the United Arab Emirates (2.2 percent), and Jordan (2.2 percent) (2 percent).

The Bretton Woods institution also predicts that unemployment would rise to 12% in 2021 before decreasing to 11.5 percent the following year. According to the same estimates, the consumer price index would stay constant, rising to 1.4 percent in 2021 and 1.2 percent in 2022.

It should be mentioned that the International Monetary Fund has somewhat cut its global growth forecasts, now forecasting 5.9% this year and 4.9 percent in 2022, while stressing the pandemic’s ramifications will endure in the short term. And the various consequences it has.

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Morocco is finally witnessing the positive outcome of the efforts made in the field of development. According to a new Chandler Good Government Index (CGGI) report, the Kingdom is among the top 40 countries with an “attractive marketplace”, in part because of the agricultural sector, which constitues one of the pillars of Moroccan economy.

As the report indicates, Morocco ranks 33rd, making it one of the top 40 countries in the world with an attractive marketplace. The report also places Morocco in 61st place in the world ranking out of 104 countries, thanks to its growing market.

Morocco is the only lower-middle income country to feature in the top 40 Attractive Marketplace Pillar which takes into account 5 factors namely; property rights with a global average score (GAS) of 0.56 (Morocco 0.7), macroeconomic environment (GAS 0.87/ Morocco 0.99), attracting investments (GAS 0.63/ Morocco 0.64), logistics quality (GAS 0.45/ Morocco 0.2), and finally stable business regulations (GAS 0.52/ Morocco 0.75). 

“The Moroccan economy has made significant progress over the past two decades,” notes the CGGI, referring to Morocco’s attractiveness for foreign investment and the country’s ability to firmly resist the economic crisis that has erupted after the Arab Spring.

“Morocco ranks 56th when it comes to ‘Attracting Investments’, but there are some notable recent developments that suggest an upward trend in this important area,” the report argues.

It should be noted that the Moroccan agricultural sector “has generated growth” as one of the key sectors, as reported by the same source. The sector, which has a positive impact on employment, contributes 19% to the kingdom’s GDP, thanks to the Green Morocco Plan, a project launched in 2008 that has contributed in revolutionizing Moroccan agriculture.

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Karim Amor, the president of MeM by the General Confederation of Moroccan Companies CGEM, 13^th region of the Confederation dedicated to Moroccan Entrepreneurs and High World Potentials signed Tuesday, April 6^th a framework cooperation agreement in partnership with Abdellah Boussouf, Secretary General of the Council of Moroccan Community Abroad CCME.

MeM by CGEM and CCME will work closely under this partnership to mobilize Moroccan skills and entrepreneurs abroad to invest in Morocco and thus contribute to the economic development of the country.

This collaboration also aims to focus on the identification and management of profiles of Moroccans around the world.

Taking into consideration the 14 years of experience in the field of emigration trends and debates it arouses both in Morocco and within international bodies, the Council will regularly bring its acquired expertise to the CGEM for years to come. Especially on the profiling of Moroccan Entrepreneurs and with people with High potential from across the entire world.

“As a representative of the private sector in Morocco and the region bringing together the country’s forces abroad, we are honored to ally ourselves with the CCME which represents for us, through its experience, a useful complementarity with our know-how”, underlines Karim AMOR, President of MeM by CGEM.

“Thus, within the framework of the 5 pillars of action in our region, we give MeMs the opportunity to express, through action, their desire to contribute to the Moroccan economy, in particular through inter-company partnership and mentoring with experienced entrepreneurs ”, he added.

For his part, Abdellah BOUSSOUF affirms that: “Moroccans abroad are at the heart of the Kingdom’s economic development. The three main providers of foreign currency in Morocco are Moroccans around the world thanks to financial transfers, tourists, a category in which MRE are also counted, and Foreign Direct Investments (FDI). Beyond this economic contribution, there is a strong attachment to the Kingdom but also a deep anchoring at the level of the regions of origin. By allying with the CGEM, it is not only a question of putting Moroccans of the world at the heart of the national debate on the economic development of the country, but also supporting them at the level of each region. Different financial support mechanisms exist.

It should be noted that the CGEM places its 13 CGEM Regions, its 37 sectoral federations representing more than 155 professions, its 17 thematic committees, as well as the Parliamentary Group in the Chamber of Advisors, at the disposal of the MeMs in order to support them in establishing their projects in Morocco.

A national consultative and prospective institution placed with His Majesty King Mohammed VI, may God assist him, the CCME is notably responsible for monitoring and evaluating the Kingdom’s public policies towards its nationals abroad. Its mission is also to issue opinions in order to ensure the defense of the interests of Moroccans living abroad inside and outside Morocco, to strengthen their contribution to economic development, social, cultural and solidarity of the country and to consolidate the relations of friendship and cooperation between Morocco and the countries of residence.

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The aim behind this partnership is to establish a space for the exchange of information and experience in fields of common interest.

Monday, March 22nd, Moroccan and Israeli businessmen working in the private sector signed a strategic partnership agreement during a virtual meeting with the aim of strengthening economic and commercial relations and developing the technological field between Morocco and Israel.

The agreement was signed by Chakib Alj, President of the General Federation of Moroccan Enterprises (CGEM), on the one hand, and Ron Tomer, President of the Israeli Employers and Entrepreneurs Association (IEBO), and the Association of Israeli Manufacturers (MAI), as well as Uriel Lynn, President of the Federation of Israeli Chambers of Commerce ( FICC) on the other hand.

The aim behind this partnership is to establish an open and lasting dialogue between the CGEM and the IEBO, which will work together to unify their efforts to create a kind of synergy and strong harmony between the concerned business communities active in main sectors, and to establish a space for the exchange of information and experiences in fields of common interest, including the import and export sector, research and development, as well as innovation and technology.

In a statement to the press, Chakib Alj said, in this regard, that this agreement constitutes a new step towards a strong and lasting partnership capable of achieving synergy between Moroccan and Israeli companies, noting that the revitalization of diplomatic relations between Morocco and Israel opens promising economic horizons, including the possibilities of establishing a large commercial exchange as well as more investment opportunities available to the Moroccan and Israeli private sector, which must be seized together, whether at the local, regional or global level, in light of the advantages enjoyed by countries in different sectors such as tourism, agriculture, technology and innovation.

For his part, the head of the Israeli Association of Employers and Businessmen and the Israel Manufacturers Association expressed his happiness for establishing this strategic partnership, which falls within the context of resuming economic and commercial relations between Israel and Morocco after a 15-year interruption.

He added that the roots of many Israelis go back to Morocco, where a large Jewish community has lived for many years, so it is now natural for us to renew and strengthen the relationship between the two countries by establishing a long-term partnership that would produce commercial cooperation and contribute to strengthening exchanges between Israel and Morocco. He further thanked the General Confederation of Moroccan Enterprises for concluding this agreement, which he described as “important and historic”.

As for the head of the Federation of Israeli Chambers of Commerce, he emphasized that Israel and Morocco enjoy a strong and long-term relationship, highlighting that Morocco, thanks to its geographical location, can become a bridge linking Israeli companies with North Africa. Moreover, Morocco constitutes “a competitive import gateway for the automotive sector, the agro-food industry, and textile and chemical industries”.

The same official added that Israel can contribute to the development of Morocco in the fields of modern agriculture, technical equipment, irrigation and water technologies, solar energy, and technological cooperation with the European Union, reminding the establishment of cooperative relations with the Moroccan business community, and “we witness a strong desire for establishing more bilateral partnerships.”

Within the framework of this strategic agreement, the two parties decided to establish a bilateral business council in order to enhance cooperation between the private sectors in the two countries through the exchange of trade missions, organizing business meetings, and establishing Moroccan enterprises in Israel and an Israeli company in Morocco.

The Moroccan-Israeli Business Council is chaired on the Moroccan side by Steve Ohana.

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