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Tuesday, December 6, 2022

Need to make the energy transition sector even more attractive

The Minister of Energy Transition and Sustainable Development, Leila Benali stressed, Thursday in Marrakech, the need to make the energy transition sector even more attractive for investors.

“It is necessary to make the energy transition sector even more attractive to national and international investors”indicated Leila Benali who spoke during a panel of the Business Forum of the European Bank for Reconstruction and Development (EBRD), placed under the theme “Energy transition: Investment opportunities in favor of the climate”.

In this regard, the Minister insisted on the importance of simplifying administrative procedures and improving the business climate in order to give visibility, in particular, to foreign investors wishing to establish themselves in Morocco.

In this context, she highlighted Morocco’s commitment to an inclusive transition, recalling that the basic foundations of the national energy policy are sustainability, including financial sustainability, flexibility, and competitiveness.

For his part, the director general of the National Office of Electricity and Drinking Water (ONEE), Abderrahim El Hafidi highlighted the achievements and the strategic choices that have been made by the Kingdom to place the energies specific to the heart of the “national electricity mix” and to the center of the competitiveness of the national economy.

These strategic choices, he said, had generated significant developments and profound changes at all levels of the electricity sector at the national level, stressing that these had considerable impacts on the economy.

The Director General for the sustainable infrastructure sector at the EBRD, Nandita Parshad, for her part, stressed that Morocco has great capacities in the field of renewable energies, underlining the major interest of making the Moroccan offer in the material one of the key elements of the economic attractiveness of the Kingdom.

Morocco has a strategic vision in the fields of green energies, said Nandita Parshad, insisting on the importance of further increasing investments in this area.

For his part, the President of the Green Economy Commission of the General Confederation of Moroccan Enterprises (CGEM), Said ElHadi indicated that in terms of investment opportunities, Morocco has exceptional resources in terms of wind and sunglasses among the best in the world.

In this wake, he noted that the world is experiencing an accelerated transition movement, observing that this is generating a multitude of investment opportunities at the national level, particularly in accelerating the penetration of renewable energies but also in the green hydrogen.

The Business Forum of the European Bank for Reconstruction and Development, held in parallel with the 31st General Assembly of the Bank, stands out as an appropriate platform for exploring investment opportunities and forging lasting business ties.

Placed under the High Patronage of HM King Mohammed VI, the 31st General Assembly of the EBRD, held in Marrakech, brings together representatives of the 73 countries and institutional shareholders of the Bank, including Morocco.

The first physical gathering of the EBRD since Sarajevo in 2019, this event, under the theme “Addressing challenges in a turbulent world”, is an opportunity to discuss global challenges such as supporting economic growth, the fight against climate change and strengthening the business environment in the regions where the Bank invests.

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