Morocco keen on more economic overture and investment promotion
Morocco, Economics, 11/16/2000

Morocco is keen on economic overture and further consolidation of a climate favorable to private investment, said minister of social economy, small and medium enterprise and handicraft, Ahmed Lahlimi, said Wednesday.

In the opening session of the USA-Maghreb conference on trade and investment, held under the Eizenstat initiative, Lahlimi-- who is also in charge of the government's general affairs-- said investment is the cornerstone of all government action meant to cope with globalization and meet the challenges of international competition.

The minister underscored reforms operated by the kingdom and rigorous management of public finance which helped bring down deficit to 0.7 PC in 1999-2000 and maintain inflation under 2 PC in the last four years with an investment rate close to 25 PC despite two consecutive dry years.

He stressed the importance of the war waged against poverty through nationwide solidarity campaigns saying however social promotion can only be achieved through sustained growth which requires investment. An agency has been set up to guide investors and help them carry out projects, he said listing other measures to encourage potential investment such as regional single-counters, funds to assist investment and a small and medium enterprise (SME) charter.

The minister also recalled flexibility introduced in human resources management and relevant provisions of the draft labor code being discussed in Parliament.

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