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Investments hampered by obstacles, professionals lament
Morocco, Economics, 11/24/2001
Professionals, meeting in Marrakesh on Thursday part of a meeting on investments in Morocco, lamented that investments in the kingdom is still hampered by several obstacles, especially institutional ones.
The investors path in Morocco is full of traps, said a participant at the meeting held by the Moroccan Centre de Conjoncture, CMC, an independent think tank of experts providing counseling on economic and business matters.
The Participants urged the Moroccan government to double efforts to lower obstacles hindering investments. They lauded, in this connection, the creation of the National Agency for Investment Promotion as a tool that can help settle problems in this regard.
They stressed the need to identify investment projects by region and ease administrative procedures for investors.
For the participants, heavy taxation and real-estate problems are among the major problems hindering a sound and continuous flow of investments. A reform of the taxation and real-estate sectors is necessary.
Ahmed Benkirane, vice-president of the Moroccan industrial federation (CGEM) deplored that the Moroccan firms face enormous difficulties in its relations with the administration, the social partners and the justice.
A heavy and complex administration, trade unions opting for confrontation rather than dialogue and an archaic and justice are one of the most dissuasive aspects for investors, said Benkirane, who urged the government to devise and implement a clear, coherent and realistic economic and social strategy. This is the only way to win the trust of investors and hence achieve a rapid growth.
Previous Stories:
Leather, textile exports increase by 4.5%
(11/21/2001)
Unemployment Falls to 12.3 Percent in second Quarter (Minister)
(11/21/2001)
Morocco's Trade with Maghreban Countries on the Rise
(11/19/2001)
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