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Thursday, May 30, 2024

Minister Jazouli Presents Mechanism to Support Investment before CGEM

The Minister Delegate for Investment, Convergence and Evaluation of Public Policies, Mohcine Jazouli, presented, Tuesday in Casablanca, before the members of the General Confederation of Moroccan Businesses (CGEM), the main device to support investment.

This working session, organized at the initiative of the CGEM, was an opportunity for the members of its National Council of Business to learn about the various provisions of the implementing decree on the implementation of the main device to support investment, the subject of draft decree No. 2.23.1, recently adopted by the Council of Government.

During this meeting, which was also attended by the President of the CGEM, Chakib Alj, the Minister also explained the specific mechanism applicable to projects of a strategic nature, international development and micro, small and medium-sized enterprises (MSMEs), as provided for in the Framework Law 03.22, which constitutes the Investment Charter.

Thus, Jazouli explained that the main device is based on 5 common premiums, a territorial premium and a sectoral premium, which can benefit eligible companies based on the amount of investment and the number of stable jobs to be created, noting that the premiums can be accumulated up to 30% of the amount of investment.

In addition, the Minister noted that the device for strategic projects include specific support measures, especially in favor of projects with sovereign character or with the capacity to attract ecosystems. The strategic projects benefit from benefits negotiated on a case-by-case basis and must meet certain eligibility criteria.

If not related to the defense industry, the project must involve an investment of at least 2 billion dirhams and meet one of the criteria related to the sector of activity, the impact on employment, the economic impact on Morocco, the development of ecosystems or the ownership of technology.

Referring to the device dedicated to the development of Moroccan companies internationally, Jazouli noted the importance of taking measures to strengthen the economic influence of Morocco in the world, noting that this device aims in particular to support the economic deployment of Morocco in Africa.

At the same time, the Minister assured that the specific device dedicated to SMEs aims to promote a new generation of entrepreneurs, through some measures to facilitate access to finance and others related to the support of young investors.

The aim of this new charter is to improve the business climate and mobilize the private sector, which is called upon to take over investment in Morocco by reversing the trend to ⅔ private investment and ⅓ public investment by 2035, stressed Jazouli.

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