Morocco Seeks To Restore Business Confidence

By Hassan Benmehdi

The Moroccan government is determined to guarantee transparency and root out economic malpractice, Prime Minister Abdelilah Benkirane pledged to business leaders in a recent statement.

The General Confederation of Moroccan Business (CGEM) on March 6th signed a memorandum of understanding with the government, aimed at facilitating the work of Moroccan enterprises.

“Today we are faced with an opportunity to overcome the obstacles which have hindered the development of Moroccan business,” Benkirane told an audience of private and public economic operators.

“Privileges and favours will have no place in the Moroccan economy,” he added.

The memorandum provides for the establishment of a joint committee, which will meet every quarter to discuss subjects such as training, scientific research, justice, competitiveness, excellence, quality, the business climate, regionalisation, governance, investment, savings and finance.

The signatories hope to lay the foundations for mutual trust and regular joint work on economic matters, as well as establish positive interaction with developments in the national and international economy.

CGEM chairman Mohamed Horani told Magharebia that Moroccan business is going through difficult times because of the economic crisis which has affected Morocco’s main partners.

“The difficult situation in Europe is having a negative impact on the Moroccan economy, but political changes made since the new constitution was introduced can have a positive influence on the future for Moroccan business,” he explained.

Meriem El Ouafa from the Southern Region Young Entrepreneurs Association said she had confidence in the government’s goodwill. She stressed the importance of adopting a strategy which will ensure that young peoples’ businesses weather the storms of future crises.

Mr. Rami, a Moroccan expatriate entrepreneur, said that confidence between business and the administration is an important aspect of the business world.

Other businessmen called for “clear, unwavering support” from the government, as opposed to state money or subsidies.

At a time when global competition is getting tougher, Moroccan business needs to redouble its efforts to take advantage of the opportunities which present themselves and to try new ideas for innovative projects, according to economic observers.

Benkirane vowed to stand by the partnership established through the new agreement and put to its provisions into action.