The draft Investment Charter has been submitted to the Parliament. The hour of truth is ringing

The long-awaited draft investment charter was approved by the latest Council of Ministers chaired by His Majesty the King and referred to Parliament as a crucial step in its approval by the country’s elected officials and its implementation.

The result of high directives and direct supervision of the Sovereign, it testifies to the major role given to it by His Majesty the King in injecting the necessary impetus into our economy.

In addition to the general goals of massive job creation, fair territorial development and the prioritization of promising industries for our country, the new Charter is designed to be a real engine for the release of energy, any energy, if it promotes and encourages private initiative at any cost.

It is also destined to be one of the privileged engines of strong and sustainable growth, which is so necessary for our economy and for our social aspirations.

It is also intended to be one of the inclusive machines of all possibilities in the sense that it will support choices and paths of possibilities for a very small initiative, regardless of its size.

Finally, it is designed to instill an inevitable dose of transparency both from the point of view of the neutrality of public services in relation to business entities, and from the point of view of access to the benefits that this brings them. Digitization of access to information and its processing will significantly contribute to this.

It should be emphasized here that the fact that the government created a ministry under the head of government dedicated to “investment, convergence and evaluation of public policies” is in itself an important advantage for the symbiosis of public intervention. in this important area and to meet these legitimate expectations.

Nevertheless, if everything allows us to believe that the expected Investment Charter will have to take on all its roles and make possible the achievement of all the set economic goals, it would be unfair to think that it can do it alone.

The investment act is complex and multidimensional, and therefore the Investment Charter must be accompanied by the following:

> A tax charter to ensure stability, simplicity and visibility for business entities, to promote innovative initiatives aimed at increasing the competitiveness of our companies, to support our exports in the face of unequal international competition and to promote a fair redistribution of the fruits of purposeful strong growth between all divisions of the company;

> a social charter that enables the transfer of a fair share of labor capital, as well as for the company to be the basis for creativity, dedication, learning, self-realization, cohesion and competitiveness;

> a system of financial, land and engineering support in favor of private operators to ensure the success of any initiative and avoid the significant and demotivating mortality of companies that we regularly encounter, especially among VSMEs;

> and central, regional and local bodies of the Administration, resolutely mobilized as true economic warriors in the service of optimal implementation of this Charter.

Our Administration gave the best proof of this during the two tragic years of the Covid pandemic, where it commanded respect and admiration for its competence, dedication and tireless commitment.

The interest is not so much in creating tens of thousands of companies per year, but in activating all possible levers for them to survive and develop, in particular through targeted and effective support.

All this can be summed up in three magical words: “business climate”.

Investment decisions are made by the private operator based on the efficiency and effectiveness of our business climate. Because outside of any necessary economic patriotism or any interest we might arouse in a foreign investor, the world of business and entrepreneurship remains a world of money and profit. And these words and intentions are neither negative nor derogatory.

It therefore goes without saying that the Investment Charter has been thoroughly rethought over the years so that the private sector can find avenues of opportunity there, borrow them with enthusiasm and fully assume the role it should have in the economic sphere. .

Therefore, it is assumed that thanks to the new Investment Charter, we will be able to cope with the main challenge of reconciling our liberal economic choices with our effective economic reality.

It is unacceptable, it is unsustainable, that in a liberal economy the state is the main investor compared to the private sector.

Hence the goal set in the new Investment Charter to change the shares of the public and private sectors in total investment by 2035.

The recommended logic is that the private sector there reaches 75%, whereas today it hovers between 25 and 30%.

It is in this regard that the private sector is highly expected so that together with the state they can together, each in their own role, address the challenges of industrializing the country, creating strong value added at the local level, achieving the required growth of 6 to 7%, creating massive jobs and, as a result, export development.

The main challenge is a truly inclusive national economy and the new state of Morocco on a regional and international scale.