Rabat: The First Vice-President of the European Bank for Reconstruction and Development (EBRD), Greg Guyett, has praised the reforms undertaken by Morocco under the leadership of His Majesty King Mohammed VI. “I am impressed by Morocco’s macroeconomic stability,” Guyett stated in an interview with MAP.

According to Agence Marocaine De Presse, these reforms have proven highly effective in terms of development and in stimulating the private sector. The recent upward revision of Morocco’s credit rating by rating agencies, which granted it investment-grade status, stands as a testament to this success.

Guyett noted Morocco’s strong economic growth and low inflation as positive indicators of the effectiveness of the government’s economic policies, guided by the High Royal Guidelines. He highlighted Morocco’s stability, competitive production costs, and proximity to major markets such as Europe and the Gulf countries as factors that enhance its attractiveness as a preferred destination for international investment.

Furthermore, the Moroccan government has implemented measures like Industrial Acceleration Zones to attract foreign investors, which further solidifies its position as a competitive international player.

In the realm of energy transition, Morocco has adopted an ambitious vision focused on the development of renewable energy. Guyett pointed out the government’s plan in the water sector, aimed at ensuring a resilient and sustainable water environment. He also mentioned the signing of a £150 million financing agreement, approximately 1.617 billion dirhams, for the “Sass Plain Water Conservation – SAISS III” project, emphasizing the country’s commitment to sustainable development.