These are the ambitions of the new Investment Charter

The draft framework law that forms the Investment Charter has just been approved by the Council of Ministers. The long-awaited draft of this new charter, which has been in the works since 2016, is now ready to enter the legislative process for approval by Parliament. Its main goal is to bring the share of private investment to two-thirds of the total investment made in the Kingdom and reach 350 billion dirhams of this investment by 2035.

The Council of Ministers, chaired by His Majesty King Mohammed VI, approved on Wednesday, July 13, the draft framework law establishing the Investment Charter. This project aims to improve the impact of investment, particularly in terms of creating permanent jobs and reducing disparities between provinces and prefectures in terms of investment attractiveness. It also aims to channel investment into high value-added manufacturing sectors to ensure sustainable development, as well as enhance the Kingdom’s attractiveness to make it a continental and international pole for foreign direct investment (FDI). , improve the business climate to facilitate the investment process and significantly increase the share of domestic and foreign private investment.

To achieve these goals, a support mechanism dedicated to strategic projects was created, as well as three special support mechanisms to promote small and medium-sized enterprises (SMEs) and Moroccan companies that plan to develop their activities internationally. , said Minister-delegate to the Head of Government, responsible for investment, convergence and evaluation of public policy, Mohsin Jazuli, in a presentation presented during this Council of Ministers. The minister confirmed that the government has also adopted a number of parallel measures to accelerate projects related to the simplification and digitization of procedures, facilitating access to land, improving governance and increasing the participation of the private and banking sectors in the field of investment.
The draft of this new investment charter, which has been under development since 2016, is one of the priorities of the Ahannouk government. To date, the Head of Government has held no fewer than four inter-ministerial meetings, as well as several meetings with the General Confederation of Moroccan Enterprises (CGEM) and the Professional Group of Banks of Morocco (GPBM) to accelerate the completion of this project. law and texts for its implementation.

During his visit last May to the House of Councilors, on the occasion of the monthly plenary session devoted to general policy, the Head of Government announced that this new Charter aims to bring the share of investments in the country’s total investments to two-thirds by 2035 against barely a third today to reach 350 billion dirhams. “The project also provides support measures intended for projects of a strategic nature, such as the defense or pharmaceutical industry, within the framework of the National Investment Commission, as well as a special support mechanism intended for very small, small and medium-sized enterprises. , in addition to the device for the development of Moroccan investments abroad,” Mr. Ahannouch also emphasized.
In the same vein, the Head of Government announced that the executive power is going to publish a decree on reducing the cost of investment programs that require state support by half, to bring it back from 100 million dirhams to 50 million. This should allow more small and medium enterprises to launch their investment projects.
Although the details of this new Charter have not yet been disclosed, various officials have said that it aims to achieve a better balance in the country’s economic and social development in accordance with the new development model. According to this new Charter, the least favored regions, outside the Casablanca-Tangier axis, will receive a special mechanism to support private investment in order to promote their development.

As for the main support system, the draft of this new Charter includes, in particular:
– General awards to support investment in accordance with the High Royal Instructions, the objectives of the new development model and the priorities set by the government.
– An additional territorial bonus aimed at encouraging investment in less favorable provinces.
– an additional industry bonus, which provides stimulation for the purpose of restoring promising industries.
And yet, in order to achieve balanced territorial development, the creation of free zones is foreseen in each region. According to some sources, it is also about establishing the status of an indirect exporter for subcontractors.
In addition, for the optimal implementation of this new Charter, the government, as stated by Mr. Ahannukh, is working to speed up the adoption of certain reforms, in particular regarding the introduction of changes to the legislative and regulatory framework for land mobilization, the development of industrial zones to international standards in the regions, as well as the simplification of preparation procedures and revision of urban planning documentation in favor of the integration of the economic aspect and revision of Law 13.09 on renewable energy sources. The executive branch is also working to accelerate the implementation of reforms related to the simplification of administrative procedures, in particular Basic Law 14.111 on the regions, Law 19.55 on the simplification of administrative procedures and formalities, Law 47.18 on the reform of regional investment centers (CRI) and Decree 2.17.618 on the National charter of administrative deconcentration.