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Tuesday, December 6, 2022

Ryad Mezzour: Morocco is among the most competitive countries

Minister of Industry and Trade Ryad Mezzour stressed, Tuesday, the imperative to consolidate the achievements in the global industrial trades.

“It is extremely important to consolidate the achievements in the global industrial trades in order to become sustainable,” said Mezzour, who spoke at the second edition of the Investment Regionals roadshow.

He noted that despite the tough and increased competition, Morocco is among the most competitive countries, with incentives offered to investment significantly lower than those offered by developed countries.

In this regard, the Minister noted that the great resilience and industrial responsiveness of the Kingdom during the pandemic has demonstrated the existence of a great potential to be exploited in the future.

In the same context, he further underlined the need to maintain this dynamism as well as this inventive and entrepreneurial spirit that has been discovered and rediscovered in Moroccans, in addition to this technical and commercial ability to meet all needs.

Referring to the industrial sovereignty, Mezzour underlined that this issue is in perfect line with the High Orientations of His Majesty King Mohammed VI on strengthening the industrial sovereignty of the Kingdom alongside food and health sovereignty, which remain equally necessary for the development of the country’s economy.

In addition, the Minister reviewed the priority sites, namely the creation of employment and the consolidation of health, food and industrial sovereignty of the Kingdom.

For his part, Jalil Sebti, CEO of the Commercial Bank within the BCP Group, stressed that the Regional Investment, in their 2021 edition, have generated a very strong interest both from operators and public and private partners, as evidenced by the level of participation and the significant volumes of investment intentions captured.

In this regard, he mentioned that the 2022 edition comes to capitalize on these achievements in order to provide once again to companies in their regions, the platform of information and support to enable them to realize their investment projects.

“More than 500 workshops were held on the sidelines of the event in all visited cities, more than 700 investment intentions were identified, representing nearly MAD 16 billion, including MAD 9.3 billion of financing needs,” he noted.

He also added that more than 250 projects have received an agreement of the Bank for more than MAD 2.3 billion, which represents 25% of the financing needs expressed.

In addition, 33 of these projects (or 13% of all financing granted) have benefited from the offer of green financing of the Popular Bank, he added, noting that these achievements have been recorded through the support of all entities of the BCP Group and nearly 70 public and private institutions partners, who have spared no effort to support investors in the regions.

As part of the support of the national strategy to boost investment, this roadshow will include 11 cities of the Kingdom, namely Rabat, Agadir, Oujda, Nador, Tangier, Beni Mellal, Marrakech, Laayoune, Dakhla, Fez and Casablanca.

Scheduled from May 31 to November 9, 2022, the second edition of the regional tour of investment brings a set of novelties both in terms of the topics addressed and the renowned guests who will enrich the discussions, providing their insights and expertise.

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