Morocco seeks to reform private sector development

The Moroccan government and the International Finance Corporation (IFC) have signed an agreement to improve investment conditions in the country.

Morocco’s National Committee for the Business Environment and the IFC will identify the main barriers to private sector development and propose reforms to improve the conditions of local businesses and attract international investors.

Lahcen Daoudi, Morocco’s minister for general affairs and governance, said: “The government will develop a multi-year plan to improve the business climate and enact associated reforms, a process that will involve consultations with the private sector.

“Priority will be given to the most urgent projects, allowing for the optimal development of the business climate and the continuation of the country’s medium- and long-term plan for private sector development.”

Currently ranked 60 in the World Bank’s 2019 Doing Business report, Morocco has climbed 68 places in the worldwide ranking during the last decade.

Mouayed Makhlouf, IFC director for the Middle East and North Africa, said: “Having taken great strides in improving its business environment, [Morocco] is pushing forward with reforms that will unlock the potential of its private sector, and create jobs and economic opportunities for people across the country.”