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Economic reforms and their impacts on economic freedom in morocco

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  • 1. Liberalism economic in Morocco CJD Vision : Make the Economy for Human Being and for Live
  • 2. Country Profil Fifth economic power of Africa / 33 millions of people Second Arab country where life is good according to the Environmental Performance Index (EPI) Emerging financial market (78 companies listed). 2nd place in Africa, a new international ofshore financial place in Casablanca The European Union is its first partner (customer and supplier) 47% of world reserves and largest exporter of phosphate in the world Global trades : tourism, offshoring, food, automotive… Second in biodiversity in the Mediterranea . Egypt Novembre 2010 Economic reform programs and their impact in Morocco
  • 3. Economy of Morocco Morocco is the fifth largest economy in Africa and the second in Maghreb. The economic system is characterized by great openness to the outside. In this regard, Morocco has ratified with its principal economic actors several Free Trade Agreements: European Union Egypt Jordan Tunisia, UAE Turkey United States Since 2001, Morocco has made significant economic progress, characterized by an average growth rate of 5%. Despite the impact of the global crisis, the country has maintained stability through the stability of its macroeconomic policies, structural reforms and Sustainable public finances. Egypt Novembre 2010 Economic reform programs and their impact in Morocco
  • 4. Economy of Morocco The international rating agency Standard & Poor's raised Morocco in 2010 at "investment grade". The agency upgraded the sovereign credit rating of debt to long term foreign currency debt and the local currency long-term with a stable outlook. Morocco obtains an international loan (2 billions of euros) one month ago. This enhancement reflects the political stability enjoyed by the country and its commitment through all the reform programs undertaken. Not to mention the effort in reducing the public debt during the last decade, giving more flexibility in its economic policy. Egypt Novembre 2010 Economic reform programs and their impact in Morocco
  • 5. Economy of Morocco Egypt Novembre 2010 Economic reform programs and their impact in Morocco
  • 6. Development programs Egypt Novembre 2010 Economic reform programs and their impact in Morocco The various development programs launched by Morocco offer many growth opportunities for the private sector local and international:  Industrial sector: automotive, aerospace, food processing, electronics, mechanical engineering  The tourism sector  The agricultural sector  The transport sector  The construction sector  The energy sector: renewable energy
  • 7. Egypt Novembre 2010 Economic reform programs and their impact in Morocco • A new comprehensive labor code protecting both the employer and employee was passed in July 2003. In addition to calling for a more well prepared stake holders. •Private and public sectors lauched 1 years ago the corporate governance booklet (SME’s and Financial institutions) •Morocco has adhered to the Open Skies Agreement in 2006, with the most low cost carriers and a Price Watchdog : 1.200 weekly services against 560 four years ago. The capacity has therefore practically doubled and half of growth emanates from the low cost carriers. •Morocco also adheres to ICC rules (arbitration) and the Hamburg Rules Convention for legal issues.
  • 8. Economic reforms in Morocco Egypt Novembre 2010 Economic reform programs and their impact in Morocco • The reforms undertaken by Morocco have to accelerate recovery and economic growth and development is the focus Reform of Justice Reform of Education : People : the Wealth Stop Corruption : ICPC – program TV live Transparency Competition : 2010 Creation of Competition Agency -The target to maintain a economic stability in a difficult environment marked by rapid changes in regional and international levels.
  • 9. Economic reforms in Morocco Egypt Novembre 2010 Economic reform programs and their impact in Morocco World Trade Organization (WTO) was born in 1994 in Morocco to Following the GATT agreement. "And to clarify that this reflects the confidence and pride of place enjoyed by the Kingdom on the international scene”. - To encourage investment and the creation of enabling environment private sector development, Morocco has undertaken to continue the modernization of its legal and institutional framework. A coming law (Auto-entrepreneur) is in the process to be voted soon Global project to democratize the Entreprise : more solidarity and independence Atlas Business Angel : 1rst initiative in the region and in Africa (2 years ago)
  • 10. Economic reforms in Morocco Egypt Novembre 2010 Economic reform programs and their impact in Morocco Economic Freedom and the global positioning of Morocco -. It is classified close to the last place sin the region MENA. -The creation of a business requires less than half the time recorded at World (38 days). Similarly, the licensing takes less time than the global average (225 days). •There is a one stop shop to cut red tape for potential investors. •As for the intervention of the state, Morocco has seen an improvement : A coming plan of privatizations - As to financial freedom : US Trade asks for openning this market in coming years The Moroccan financial system is relatively well developed in comparison with countries in the region AWB awarded several times as an innovative and a growing bank .
  • 11. Economic reforms in Morocco Egypt Novembre 2010 Economic reform programs and their impact in Morocco Economic Freedom and the global positioning of Morocco In terms of monetary freedom, Morocco allows individuals to travel with 7.000 euros/year and with no limit for entreprises (investments and daily business). Fiscal freedom, Morocco has voted for 2011 a specific rate for SME’s The locomotive : 15% -> turn over < 3 000 KMAD. In terms of investment freedom, local and international investors : the same rights and rules Reinforcing the regionalization with more power and more proximity : a coming law Promoting the Economic Maghreb Politics will follow .
  • 12. Liberalism economic in Morocco Thank You CJD Vision : Make the Economy for Human Being and for Live

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