Morocco, an investment country par excellence (ADB manager)
Morocco is an investment country par excellence, given its various assets, including political stability and that of the macroeconomic framework, underlined the country manager of the African Development Bank (AfDB) for Morocco, Achraf Tarsim.
“We are lucky and happy to have this partnership with Morocco. The Kingdom will co-organize the 2030 Football World Cup, which will make it possible to initiate several major investments linked mainly to airports, railways, roads, but also in the field of tourism,” declared Mr. Tarsim in an interview granted to MAP, on the sidelines of the AfDB Annual Meetings, held from May 27 to 31 in Nairobi.
These are also significant investments in the energy transition, the decarbonization of industry and the management of water stress, he argued, noting that Morocco has made strong commitments and that it has been able to demonstrate , in the past, that it can greatly exceed its commitments.
Mr. Tarsim also insisted on the importance of private financing which is expected to increase, to bring the share of private investment to two-thirds of total investment, as provided for by the new Investment Charter.
“We believe that the public authorities have taken the lead in creating the favorable framework for this investment. Private investment should accelerate and the new investment charter now offers a range of support instruments,” he argued.
He also mentioned the “Morocco Offer” for the development of the green hydrogen sector, which is a very clear roadmap, in addition to the establishment of the Mohammed VI Fund for investment.
Mr. Tarsim also highlighted the efforts made by the ministry in charge of investment.
“All this shows investors that Morocco is open to investment. This is very important in relation to what the government is putting in place. But there are challenges that Morocco faces, linked in particular to the increasing cost of financing across the world,” he noted.
Furthermore, Mr. Tarsim recommended ensuring that, in these projects, the dimensions of local content and industrial integration are strongly present to create a ripple effect on all small and medium-sized companies, because these are the ones that create employment.
“We believe that with the efforts made by Moroccan banks, the Mohammed VI Fund for Investment, the Central Bank and the Ministry of Economy and Finance, as well as other ministerial departments as part of the promotion of entrepreneurship, we have a comfortable cushion of security in favor of SMEs,” he said.
The AfDB Annual Meetings allowed Bank Governors to share their experiences on the progress made by their respective countries in transforming their economies, the main obstacles encountered in this process and the key reforms undertaken to overcome them (or at least less minimize their negative effects).
These governors also outlined their positions on proposed reforms to the international financial architecture and discussed how the current global financial system has hampered the financing of their ambitions for structural transformation.
