Rabat: The overall operating capital for industrial projects approved between May 2023 and November 2024 reached 140 billion MAD ($14 billion), marking a significant 1,000% increase compared to the period from October 2021 to April 2023, according to Head of Government Aziz Akhannouch. Speaking at the House of Councilors’ question time, Akhannouch attributed this growth to the new Investment Charter, a key mechanism designed to enhance industrial competitiveness by refining legislative and regulatory frameworks, thereby attracting both local and foreign investments into priority sectors.

According to Agence Marocaine De Presse, the Head of Government emphasized the incentive measures embedded in the Investment Charter, effective since late 2022, aimed at enhancing the business climate and the industrial sector’s appeal. These measures include financial and spatial incentives that reduce investor costs, with the Charter aiming to create spatial equality in investment distribution across various provinces. Thi
s strategy is critical for Morocco’s economy, focusing on innovation and advanced manufacturing technologies.

The Charter outlines Morocco’s future investment sectors, such as electronics, automotive, and aviation, alongside emerging areas like artificial intelligence, renewable energy, green hydrogen, and biotechnology. Furthermore, to facilitate Morocco’s investment ecosystem’s success, the government has simplified 22 administrative procedures related to investment, partly by digitalizing them through the “CRI-Invest” platform and reducing the number of required documents by 45%.

Akhannouch also stated the government’s commitment to a new vision for Regional Investment Centers (CRI), focusing on strengthening their roles, streamlining investment procedures, and developing agreements while keeping a close watch on projects. Investment file reviews for projects valued between 50 and 250 million dirhams have been delegated to regional centers to ensure a prompt response to investor inquiries.

In addition,
the government is finalizing a legal framework to support very small, small, and medium-sized businesses, including those industrially focused, as they are crucial for job creation. Efforts are ongoing to promote Morocco’s investment advantages internationally, particularly by leveraging the role of Moroccan expatriates, Akhannouch concluded.