1. The document summarizes a report on reforms to Morocco's public sector establishments and enterprises (EPE). It outlines King Mohammed VI's directives to improve efficiency and governance through an agency to oversee state holdings and performance.
2. It describes the composition and distribution of EPEs across sectors and regions. Commercial EPEs make up 26.5% of the portfolio. Key entities face reforms in sectors like rail, airports, water and energy to separate commercial and sovereign functions.
3. Major EPEs are engaged in dialogues to improve governance through restructuring plans in response to COVID-19's impacts on sectors like tourism and air transport. Studies are underway for regional multi-service companies and renewable
Aspirational, hurried and fretting
A plain reading of the budget papers, including the FM speech, makes us believe that the FM (and by implication PM) aspire to turn India into a truly egalitarian society as soon as possible but no later than 2024. Their posturing suggests that they are taking it for granted that there is no challenge to their leadership at least for next five years.
They appear in tremendous hurry to showcase all the arrows in their quivers, though most of these remain unsharpened.
The tone of the budget vividly shows that they are fretting about the gradual erosion in their support base and trying hard to make sure that this gradual erosion does not turn into an avalanche.
The document outlines Cameroon's national financing strategy to unlock investments for distributed renewable energy from 2020-2025. The strategy aims to achieve 75% of primary energy and 25% of electricity from renewables by 2025, requiring $4 billion in financing. It proposes reducing government spending, especially the wage bill, to free up funds for priority sectors like energy. It also recommends lowering corporate taxes to attract private investment, implementing efficient tax collection, and developing grid codes to incentivize renewable projects. The strategy matches financing needs to sources like public revenues, aid, and private capital to mobilize $4 billion for Cameroon's renewable energy transition.
The document provides an analysis of Ekiti State's debt sustainability and debt management strategy from 2016-2020 and projections from 2021-2030. Some key findings:
- Ekiti State's debt position appears sustainable long-term due to strong internally generated revenue and control of expenditure growth. Total revenue is projected to increase from N70.62 billion in 2020 to N219.94 billion by 2030.
- Total public debt increased from N107.66 billion in 2016 to N266.52 billion by 2030, remaining at a modest level due to reliance on concessional external loans and domestic financing.
- The debt management strategy pursues a prudent mix of financing sources to maintain a low
The Finance Minister read out the longest ever budget speech. By the end of it she was too exhausted to even complete the speech. This pretty much explains the state of affairs.
Like a caged canary aspiring to fly in the blue sky, the finance minister very enthusiastically read out the vision for new modern India. However, after two hours of aspirational efforts, it was evidently clear that she does not have enough strength to break the shackles and release herself. In the end, she was settled in the cage, totally exhausted and her wings ruffled.
The positive take away from the budget statement is that the aspirations are really high and the vision of new modern India very clear. The government for the first time made an unambiguous admission that the way forward is a progressive socio-economic structure that is egalitarian but encourages and supports private enterprise. It is a major achievement to officially abandon the socialist legacy that focused on curbing demand rather than enhancing supply and hindered the seamless integration of Indian economy in the global economy.
The Hera Group approved a new five-year business plan through 2023 focusing on industrial growth, risk management, and circular economy. Key points include:
- EBITDA projected to increase to 1,250 million euro by 2023, up 219 million from 2018 levels.
- Total investments of roughly 2.9 billion euro, including 2 billion for maintenance and 900 million for expansion.
- Net debt to EBITDA ratio expected to improve to 2.8 by 2023.
- Continued focus on sustainability, with 11 of 17 UN SDGs addressed and shared value EBITDA reaching 530 million euro in 2023.
The document provides guidelines for the National Budget Call for Fiscal Year 2022. It discusses the continued implementation of budget reforms such as the transition to an annual Cash Budgeting System and consolidation of government funds into a Treasury Single Account. It notes the Supreme Court ruling on the Mandanas-Garcia petitions will substantially increase funds for Local Government Units beginning in 2022. Agencies are instructed to focus on policy development and oversight of devolved services, and consider cost-sharing arrangements with LGUs. Submission requirements and deadlines for the budget proposals are also outlined.
This document provides definitions and explanations of key terms and processes related to the Philippine government budget cycle. It discusses the stages of budget preparation, execution, and accountability. It defines acronyms for government agencies and budget-related terms. The stages of budget execution include allotment release, obligation, cash allocation, and disbursement. Budget accountability involves setting targets, citizen engagement, monitoring and evaluation, accountability reports, performance review, and auditing.
Aspirational, hurried and fretting
A plain reading of the budget papers, including the FM speech, makes us believe that the FM (and by implication PM) aspire to turn India into a truly egalitarian society as soon as possible but no later than 2024. Their posturing suggests that they are taking it for granted that there is no challenge to their leadership at least for next five years.
They appear in tremendous hurry to showcase all the arrows in their quivers, though most of these remain unsharpened.
The tone of the budget vividly shows that they are fretting about the gradual erosion in their support base and trying hard to make sure that this gradual erosion does not turn into an avalanche.
The document outlines Cameroon's national financing strategy to unlock investments for distributed renewable energy from 2020-2025. The strategy aims to achieve 75% of primary energy and 25% of electricity from renewables by 2025, requiring $4 billion in financing. It proposes reducing government spending, especially the wage bill, to free up funds for priority sectors like energy. It also recommends lowering corporate taxes to attract private investment, implementing efficient tax collection, and developing grid codes to incentivize renewable projects. The strategy matches financing needs to sources like public revenues, aid, and private capital to mobilize $4 billion for Cameroon's renewable energy transition.
The document provides an analysis of Ekiti State's debt sustainability and debt management strategy from 2016-2020 and projections from 2021-2030. Some key findings:
- Ekiti State's debt position appears sustainable long-term due to strong internally generated revenue and control of expenditure growth. Total revenue is projected to increase from N70.62 billion in 2020 to N219.94 billion by 2030.
- Total public debt increased from N107.66 billion in 2016 to N266.52 billion by 2030, remaining at a modest level due to reliance on concessional external loans and domestic financing.
- The debt management strategy pursues a prudent mix of financing sources to maintain a low
The Finance Minister read out the longest ever budget speech. By the end of it she was too exhausted to even complete the speech. This pretty much explains the state of affairs.
Like a caged canary aspiring to fly in the blue sky, the finance minister very enthusiastically read out the vision for new modern India. However, after two hours of aspirational efforts, it was evidently clear that she does not have enough strength to break the shackles and release herself. In the end, she was settled in the cage, totally exhausted and her wings ruffled.
The positive take away from the budget statement is that the aspirations are really high and the vision of new modern India very clear. The government for the first time made an unambiguous admission that the way forward is a progressive socio-economic structure that is egalitarian but encourages and supports private enterprise. It is a major achievement to officially abandon the socialist legacy that focused on curbing demand rather than enhancing supply and hindered the seamless integration of Indian economy in the global economy.
The Hera Group approved a new five-year business plan through 2023 focusing on industrial growth, risk management, and circular economy. Key points include:
- EBITDA projected to increase to 1,250 million euro by 2023, up 219 million from 2018 levels.
- Total investments of roughly 2.9 billion euro, including 2 billion for maintenance and 900 million for expansion.
- Net debt to EBITDA ratio expected to improve to 2.8 by 2023.
- Continued focus on sustainability, with 11 of 17 UN SDGs addressed and shared value EBITDA reaching 530 million euro in 2023.
The document provides guidelines for the National Budget Call for Fiscal Year 2022. It discusses the continued implementation of budget reforms such as the transition to an annual Cash Budgeting System and consolidation of government funds into a Treasury Single Account. It notes the Supreme Court ruling on the Mandanas-Garcia petitions will substantially increase funds for Local Government Units beginning in 2022. Agencies are instructed to focus on policy development and oversight of devolved services, and consider cost-sharing arrangements with LGUs. Submission requirements and deadlines for the budget proposals are also outlined.
This document provides definitions and explanations of key terms and processes related to the Philippine government budget cycle. It discusses the stages of budget preparation, execution, and accountability. It defines acronyms for government agencies and budget-related terms. The stages of budget execution include allotment release, obligation, cash allocation, and disbursement. Budget accountability involves setting targets, citizen engagement, monitoring and evaluation, accountability reports, performance review, and auditing.
The finance minister maintained a commendable balance between the evenly stronger and mostly diverging compulsions of economic growth, fiscal discipline and political expediency.
Most of the budget provisions are inarguably aimed at ensuring inclusive growth, and bringing in equity in taxation and provisions.
A record number of measures have been introduced, to bring predictability, transparency and conciliation in the tax regime of the country.
Picking up from the previous budget, Budget 2013/14 will play a big role in laying a firm foundation to usher in the devolved system of government. The environment for budget formulation and prudent financial management at the national and county government level is now set, given the passing of requisite legislation, including the Public Finance Management Act, 2012 and the launch of the second strategy for Public Finance Management Reforms in early 2013. Given this state of play one can interrogate the budget process using the PFM, Act 2012 as a benchmark. The three arms of government managed to submit their expenditure estimates to the National Assembly by 30th April. Equally commendable is the fact that for the very first time, the National Government adopted Programme based budgeting (PBB) to present its expenditure estimates in line with PFM reforms.
Jordan Ahli Bank provides a summary of its history and operations. It began operations in 1956 and has since expanded across Jordan and internationally, establishing subsidiaries to diversify its services. The bank focuses on becoming a sustainable organization that benefits customers, employees, society and shareholders. It highlights key milestones and investments that have positioned it for continued growth and success.
The document discusses issues with Yemen's national budget, including a lack of integration between different budget components (operational, investment, subsidies, economic entities). It focuses on problems with the investment and economic entities budgets. The investment budget lacks feasibility studies and realistic costing, burdening future budgets. The economic entities budget treats state-owned enterprises as a single entity, obscuring deficits and risks. The document advocates separating commercial SOEs from budget entities and integrating all components into a unified, sustainable budget.
The Hera Group approved a business plan to 2020 that forecasts €1.08 billion in EBITDA by 2020, a net increase of €200 million from 2015. The plan aims to increase organic growth and pursue external growth opportunities through mergers and acquisitions. Key priorities include efficiency, excellence, growth, innovation and agility. Total investments of nearly €2.5 billion are planned over 2016-2020, focusing on smart network infrastructure to support trends like Industry 4.0. The plan also targets improving financial ratios and increasing dividends per share to 10 cents by 2020.
Hera Group Approves Business Plan to 2019Hera Group
The Hera Group approved a business plan to 2019 that aims to increase EBITDA to over €1 billion by 2019. The plan focuses on balanced growth through both internal improvements like efficiency initiatives and external growth like acquisitions. Key targets include revenue over €5.8 billion, EBITDA of €1.03 billion, capital expenditures of €2.2 billion, and a net debt to EBITDA ratio of 2.9x by 2019. The plan aims to strengthen Hera's position in a more competitive environment through sustainable growth.
KRA collected Kshs 1.669 trillion in revenue for FY 2020/2021, surpassing its target and prior year collection. Revenue performance was below target in the initial months of the fiscal year due to the negative impacts of COVID-19 but improved as the economy gradually reopened. Cumulative collection from July to October was Kshs 491.888 billion, below target and prior year levels, with domestic taxes and customs taxes seeing declines offset somewhat by growth in petroleum and trade taxes in later months.
The document provides an overview and analysis of the Union Budget of India for 2015-2016. Some key points:
- The budget continues the government's focus on gradual simplification of tax laws, withdrawing fiscal stimulus, and building rural infrastructure through an incremental approach rather than major reforms.
- There is a greater influence of market economists in the budget compared to the past, which should please financial markets.
- The budget lays out plans to work towards the government's Vision 2022 of comprehensive development across sectors like housing, power, water, education, and healthcare.
- There is a shift towards enabling citizens through skills training and access to services rather than just providing subsidies, as well as moves to accelerate global
This document is the transcript of the 2021 Budget Speech delivered by South African Minister of Finance Tito Mboweni to Parliament on February 24, 2021. In the speech, Mboweni outlines South Africa's fiscal framework for 2021-2023, including projections for revenue, spending, debt levels, and the economic outlook. He highlights progress being made on structural economic reforms and the government's plans to support job creation, economic transformation, and social development programs over the medium term.
Kenya has had long term development plans since independence to guide planning and investment. The current plan is Vision 2030, which aims to transform Kenya into a middle-income country by 2030. It has three pillars: economic, social, and political. Progress has been made in achieving the goals under each pillar, such as GDP growth in priority sectors and increased access to education, health care, and water. However, challenges remain like inadequate infrastructure hindering sectors like tourism, and shortages of resources and skilled workers limiting progress. Overall the document analyzes the goals, achievements and ongoing challenges of implementing Kenya's long-term development plan, Vision 2030.
FICCI commented positively on the Union Budget 2015-16, saying it laid out a clear roadmap for doubling India's growth rate and set national targets out to 2022. The budget increased infrastructure spending, rationalized the corporate tax structure, and boosted several key programs. FICCI also welcomed other government measures that increased funding for states, focused on rail investment, and identified root causes of black money generation.
The document summarizes key aspects of the Indian government's 2010-2011 budget. It outlines how the budget impacts various sectors including [1] agriculture through increased credit and investments in irrigation and seeds, [2] energy through higher allocations to power and renewables, and [3] infrastructure through expanded road construction and tax breaks for bonds. The budget also aims to boost rural development, education, social welfare, and support small businesses. Overall, the analysis finds the budget benefits individuals and many corporate sectors through various incentives and investments.
This document provides an overview of public sector enterprises and privatization in India. It defines public sector enterprises as those that are majority owned and controlled by the government. The objectives of public sector enterprises are outlined, including promoting economic growth and development. The growth of public sector enterprises over various Five-Year Plans is shown in a table. The roles played by public sector enterprises in the economy, such as contributing to the national income and employment, are also described. Reasons for poor performance of public sector enterprises and reforms initiated are discussed. The document concludes with explaining different forms of privatization and the regulatory framework for key infrastructure sectors like insurance, power, and telecommunications in India.
Jordan Ahli Bank provides an overview of its 2020 H1 performance and investment opportunities. It discusses Jordan's macroeconomic outlook following reforms in response to regional crises. The bank has grown from its establishment in 1940 through expanding services, establishing international branches, and pursuing diversification and innovation. It is now focused on shared value and becoming a trusted partner through its financial performance and support for Jordan's growth.
Ladies and Gentlemen, I am delighted to be with you in this hallowed chamber on this special occasion of the presentation of the 2021 Budget proposal christened, “Budget of Recovery and Economic Restoration” to the Ekiti State House of Assembly.
This presentation was made by Thongsa Homesombat, Lao, at the 14th OECD-Asian Senior Budget Officials Meeting held in Bangkok, Thailand, on 13-14 December 2018
The oil and gas sector known as migas in Indonesian is one of the strategic industrial sectors that is considered vulnerable to corrupt practices. This is proven by the results of the corruption perception survey in 2015 by Transparency International, which ranks oil and gas in third place after the construction and services business, as the business sector that has the largest percentage of bribes. Nevertheless, the oil and gas industry and the mining and forest sectors have the highest prevalence (intensity level) at national and local levels.
In other findings at the end of 2014, The Organization for Economic Co-operation and Development (OECD) released a report that is stating the extractive or natural resource exploitation industries such as oil and gas were the most corrupt industries in the world. The OECD Foreign Bribery report showed that 19% of 427 corruption cases in 2014, came from the extractive industry sector and 23 % of the 176 cases prosecuted under the Foreign Corrupt Practices Act (FCPA) came from the oil sector.
The document summarizes recent economic news and developments in Sri Lanka. Key points include:
- The Central Bank projects GDP to shrink 1.7% in 2020 before rebounding to 5% growth in 2021.
- Sri Lanka will continue to receive the same EU trade preferences from the UK in 2021 under the UK's proposed Enhanced Framework replicating the EU-GSP Plus scheme.
- China's Shandong Haohua signed a $300 million deal to set up a tire manufacturing plant in Hambantota, the first major foreign investment in the Hambantota Port industrial zone.
The document discusses the budget process in the Philippines. It is comprised of 4 phases: (1) budget preparation which involves agencies submitting budget proposals to the Department of Budget and Management; (2) budget legislation where Congress reviews and passes the budget; (3) budget execution involving the implementation of the approved budget; and (4) accountability which ensures funds were used effectively and allows performance assessments. The document also outlines the various sources of public revenues that fund the budget, including taxes, capital revenues, grants, borrowings, and income from government services.
The Hera Group approved a new 2022 Business Plan focused on growth, efficiency, and sustainability. The plan projects over €1.1 billion in EBITDA in 2022, a 200 million increase over 2017. It allocates over €3.1 billion to investments primarily in regulated networks and waste management. The strategy aims to grasp opportunities in evolving markets through innovation, efficiency, and shared value projects exceeding €470 million EBITDA in 2022.
❼❷⓿❺❻❷❽❷❼❽ Dpboss Matka Result Satta Matka Guessing Satta Fix jodi Kalyan Final ank Satta Matka Dpbos Final ank Satta Matta Matka 143 Kalyan Matka Guessing Final Matka Final ank Today Matka 420 Satta Batta Satta 143 Kalyan Chart Main Bazar Chart vip Matka Guessing Dpboss 143 Guessing Kalyan night
The finance minister maintained a commendable balance between the evenly stronger and mostly diverging compulsions of economic growth, fiscal discipline and political expediency.
Most of the budget provisions are inarguably aimed at ensuring inclusive growth, and bringing in equity in taxation and provisions.
A record number of measures have been introduced, to bring predictability, transparency and conciliation in the tax regime of the country.
Picking up from the previous budget, Budget 2013/14 will play a big role in laying a firm foundation to usher in the devolved system of government. The environment for budget formulation and prudent financial management at the national and county government level is now set, given the passing of requisite legislation, including the Public Finance Management Act, 2012 and the launch of the second strategy for Public Finance Management Reforms in early 2013. Given this state of play one can interrogate the budget process using the PFM, Act 2012 as a benchmark. The three arms of government managed to submit their expenditure estimates to the National Assembly by 30th April. Equally commendable is the fact that for the very first time, the National Government adopted Programme based budgeting (PBB) to present its expenditure estimates in line with PFM reforms.
Jordan Ahli Bank provides a summary of its history and operations. It began operations in 1956 and has since expanded across Jordan and internationally, establishing subsidiaries to diversify its services. The bank focuses on becoming a sustainable organization that benefits customers, employees, society and shareholders. It highlights key milestones and investments that have positioned it for continued growth and success.
The document discusses issues with Yemen's national budget, including a lack of integration between different budget components (operational, investment, subsidies, economic entities). It focuses on problems with the investment and economic entities budgets. The investment budget lacks feasibility studies and realistic costing, burdening future budgets. The economic entities budget treats state-owned enterprises as a single entity, obscuring deficits and risks. The document advocates separating commercial SOEs from budget entities and integrating all components into a unified, sustainable budget.
The Hera Group approved a business plan to 2020 that forecasts €1.08 billion in EBITDA by 2020, a net increase of €200 million from 2015. The plan aims to increase organic growth and pursue external growth opportunities through mergers and acquisitions. Key priorities include efficiency, excellence, growth, innovation and agility. Total investments of nearly €2.5 billion are planned over 2016-2020, focusing on smart network infrastructure to support trends like Industry 4.0. The plan also targets improving financial ratios and increasing dividends per share to 10 cents by 2020.
Hera Group Approves Business Plan to 2019Hera Group
The Hera Group approved a business plan to 2019 that aims to increase EBITDA to over €1 billion by 2019. The plan focuses on balanced growth through both internal improvements like efficiency initiatives and external growth like acquisitions. Key targets include revenue over €5.8 billion, EBITDA of €1.03 billion, capital expenditures of €2.2 billion, and a net debt to EBITDA ratio of 2.9x by 2019. The plan aims to strengthen Hera's position in a more competitive environment through sustainable growth.
KRA collected Kshs 1.669 trillion in revenue for FY 2020/2021, surpassing its target and prior year collection. Revenue performance was below target in the initial months of the fiscal year due to the negative impacts of COVID-19 but improved as the economy gradually reopened. Cumulative collection from July to October was Kshs 491.888 billion, below target and prior year levels, with domestic taxes and customs taxes seeing declines offset somewhat by growth in petroleum and trade taxes in later months.
The document provides an overview and analysis of the Union Budget of India for 2015-2016. Some key points:
- The budget continues the government's focus on gradual simplification of tax laws, withdrawing fiscal stimulus, and building rural infrastructure through an incremental approach rather than major reforms.
- There is a greater influence of market economists in the budget compared to the past, which should please financial markets.
- The budget lays out plans to work towards the government's Vision 2022 of comprehensive development across sectors like housing, power, water, education, and healthcare.
- There is a shift towards enabling citizens through skills training and access to services rather than just providing subsidies, as well as moves to accelerate global
This document is the transcript of the 2021 Budget Speech delivered by South African Minister of Finance Tito Mboweni to Parliament on February 24, 2021. In the speech, Mboweni outlines South Africa's fiscal framework for 2021-2023, including projections for revenue, spending, debt levels, and the economic outlook. He highlights progress being made on structural economic reforms and the government's plans to support job creation, economic transformation, and social development programs over the medium term.
Kenya has had long term development plans since independence to guide planning and investment. The current plan is Vision 2030, which aims to transform Kenya into a middle-income country by 2030. It has three pillars: economic, social, and political. Progress has been made in achieving the goals under each pillar, such as GDP growth in priority sectors and increased access to education, health care, and water. However, challenges remain like inadequate infrastructure hindering sectors like tourism, and shortages of resources and skilled workers limiting progress. Overall the document analyzes the goals, achievements and ongoing challenges of implementing Kenya's long-term development plan, Vision 2030.
FICCI commented positively on the Union Budget 2015-16, saying it laid out a clear roadmap for doubling India's growth rate and set national targets out to 2022. The budget increased infrastructure spending, rationalized the corporate tax structure, and boosted several key programs. FICCI also welcomed other government measures that increased funding for states, focused on rail investment, and identified root causes of black money generation.
The document summarizes key aspects of the Indian government's 2010-2011 budget. It outlines how the budget impacts various sectors including [1] agriculture through increased credit and investments in irrigation and seeds, [2] energy through higher allocations to power and renewables, and [3] infrastructure through expanded road construction and tax breaks for bonds. The budget also aims to boost rural development, education, social welfare, and support small businesses. Overall, the analysis finds the budget benefits individuals and many corporate sectors through various incentives and investments.
This document provides an overview of public sector enterprises and privatization in India. It defines public sector enterprises as those that are majority owned and controlled by the government. The objectives of public sector enterprises are outlined, including promoting economic growth and development. The growth of public sector enterprises over various Five-Year Plans is shown in a table. The roles played by public sector enterprises in the economy, such as contributing to the national income and employment, are also described. Reasons for poor performance of public sector enterprises and reforms initiated are discussed. The document concludes with explaining different forms of privatization and the regulatory framework for key infrastructure sectors like insurance, power, and telecommunications in India.
Jordan Ahli Bank provides an overview of its 2020 H1 performance and investment opportunities. It discusses Jordan's macroeconomic outlook following reforms in response to regional crises. The bank has grown from its establishment in 1940 through expanding services, establishing international branches, and pursuing diversification and innovation. It is now focused on shared value and becoming a trusted partner through its financial performance and support for Jordan's growth.
Ladies and Gentlemen, I am delighted to be with you in this hallowed chamber on this special occasion of the presentation of the 2021 Budget proposal christened, “Budget of Recovery and Economic Restoration” to the Ekiti State House of Assembly.
This presentation was made by Thongsa Homesombat, Lao, at the 14th OECD-Asian Senior Budget Officials Meeting held in Bangkok, Thailand, on 13-14 December 2018
The oil and gas sector known as migas in Indonesian is one of the strategic industrial sectors that is considered vulnerable to corrupt practices. This is proven by the results of the corruption perception survey in 2015 by Transparency International, which ranks oil and gas in third place after the construction and services business, as the business sector that has the largest percentage of bribes. Nevertheless, the oil and gas industry and the mining and forest sectors have the highest prevalence (intensity level) at national and local levels.
In other findings at the end of 2014, The Organization for Economic Co-operation and Development (OECD) released a report that is stating the extractive or natural resource exploitation industries such as oil and gas were the most corrupt industries in the world. The OECD Foreign Bribery report showed that 19% of 427 corruption cases in 2014, came from the extractive industry sector and 23 % of the 176 cases prosecuted under the Foreign Corrupt Practices Act (FCPA) came from the oil sector.
The document summarizes recent economic news and developments in Sri Lanka. Key points include:
- The Central Bank projects GDP to shrink 1.7% in 2020 before rebounding to 5% growth in 2021.
- Sri Lanka will continue to receive the same EU trade preferences from the UK in 2021 under the UK's proposed Enhanced Framework replicating the EU-GSP Plus scheme.
- China's Shandong Haohua signed a $300 million deal to set up a tire manufacturing plant in Hambantota, the first major foreign investment in the Hambantota Port industrial zone.
The document discusses the budget process in the Philippines. It is comprised of 4 phases: (1) budget preparation which involves agencies submitting budget proposals to the Department of Budget and Management; (2) budget legislation where Congress reviews and passes the budget; (3) budget execution involving the implementation of the approved budget; and (4) accountability which ensures funds were used effectively and allows performance assessments. The document also outlines the various sources of public revenues that fund the budget, including taxes, capital revenues, grants, borrowings, and income from government services.
The Hera Group approved a new 2022 Business Plan focused on growth, efficiency, and sustainability. The plan projects over €1.1 billion in EBITDA in 2022, a 200 million increase over 2017. It allocates over €3.1 billion to investments primarily in regulated networks and waste management. The strategy aims to grasp opportunities in evolving markets through innovation, efficiency, and shared value projects exceeding €470 million EBITDA in 2022.
❼❷⓿❺❻❷❽❷❼❽ Dpboss Matka Result Satta Matka Guessing Satta Fix jodi Kalyan Final ank Satta Matka Dpbos Final ank Satta Matta Matka 143 Kalyan Matka Guessing Final Matka Final ank Today Matka 420 Satta Batta Satta 143 Kalyan Chart Main Bazar Chart vip Matka Guessing Dpboss 143 Guessing Kalyan night
Event Report - SAP Sapphire 2024 Orlando - lots of innovation and old challengesHolger Mueller
Holger Mueller of Constellation Research shares his key takeaways from SAP's Sapphire confernece, held in Orlando, June 3rd till 5th 2024, in the Orange Convention Center.
The Genesis of BriansClub.cm Famous Dark WEb PlatformSabaaSudozai
BriansClub.cm, a famous platform on the dark web, has become one of the most infamous carding marketplaces, specializing in the sale of stolen credit card data.
[To download this presentation, visit:
https://www.oeconsulting.com.sg/training-presentations]
This PowerPoint compilation offers a comprehensive overview of 20 leading innovation management frameworks and methodologies, selected for their broad applicability across various industries and organizational contexts. These frameworks are valuable resources for a wide range of users, including business professionals, educators, and consultants.
Each framework is presented with visually engaging diagrams and templates, ensuring the content is both informative and appealing. While this compilation is thorough, please note that the slides are intended as supplementary resources and may not be sufficient for standalone instructional purposes.
This compilation is ideal for anyone looking to enhance their understanding of innovation management and drive meaningful change within their organization. Whether you aim to improve product development processes, enhance customer experiences, or drive digital transformation, these frameworks offer valuable insights and tools to help you achieve your goals.
INCLUDED FRAMEWORKS/MODELS:
1. Stanford’s Design Thinking
2. IDEO’s Human-Centered Design
3. Strategyzer’s Business Model Innovation
4. Lean Startup Methodology
5. Agile Innovation Framework
6. Doblin’s Ten Types of Innovation
7. McKinsey’s Three Horizons of Growth
8. Customer Journey Map
9. Christensen’s Disruptive Innovation Theory
10. Blue Ocean Strategy
11. Strategyn’s Jobs-To-Be-Done (JTBD) Framework with Job Map
12. Design Sprint Framework
13. The Double Diamond
14. Lean Six Sigma DMAIC
15. TRIZ Problem-Solving Framework
16. Edward de Bono’s Six Thinking Hats
17. Stage-Gate Model
18. Toyota’s Six Steps of Kaizen
19. Microsoft’s Digital Transformation Framework
20. Design for Six Sigma (DFSS)
To download this presentation, visit:
https://www.oeconsulting.com.sg/training-presentations
HOW TO START UP A COMPANY A STEP-BY-STEP GUIDE.pdf46adnanshahzad
How to Start Up a Company: A Step-by-Step Guide Starting a company is an exciting adventure that combines creativity, strategy, and hard work. It can seem overwhelming at first, but with the right guidance, anyone can transform a great idea into a successful business. Let's dive into how to start up a company, from the initial spark of an idea to securing funding and launching your startup.
Introduction
Have you ever dreamed of turning your innovative idea into a thriving business? Starting a company involves numerous steps and decisions, but don't worry—we're here to help. Whether you're exploring how to start a startup company or wondering how to start up a small business, this guide will walk you through the process, step by step.
Taurus Zodiac Sign: Unveiling the Traits, Dates, and Horoscope Insights of th...my Pandit
Dive into the steadfast world of the Taurus Zodiac Sign. Discover the grounded, stable, and logical nature of Taurus individuals, and explore their key personality traits, important dates, and horoscope insights. Learn how the determination and patience of the Taurus sign make them the rock-steady achievers and anchors of the zodiac.
Brian Fitzsimmons on the Business Strategy and Content Flywheel of Barstool S...Neil Horowitz
On episode 272 of the Digital and Social Media Sports Podcast, Neil chatted with Brian Fitzsimmons, Director of Licensing and Business Development for Barstool Sports.
What follows is a collection of snippets from the podcast. To hear the full interview and more, check out the podcast on all podcast platforms and at www.dsmsports.net
How to Implement a Strategy: Transform Your Strategy with BSC Designer's Comp...Aleksey Savkin
The Strategy Implementation System offers a structured approach to translating stakeholder needs into actionable strategies using high-level and low-level scorecards. It involves stakeholder analysis, strategy decomposition, adoption of strategic frameworks like Balanced Scorecard or OKR, and alignment of goals, initiatives, and KPIs.
Key Components:
- Stakeholder Analysis
- Strategy Decomposition
- Adoption of Business Frameworks
- Goal Setting
- Initiatives and Action Plans
- KPIs and Performance Metrics
- Learning and Adaptation
- Alignment and Cascading of Scorecards
Benefits:
- Systematic strategy formulation and execution.
- Framework flexibility and automation.
- Enhanced alignment and strategic focus across the organization.
How MJ Global Leads the Packaging Industry.pdfMJ Global
MJ Global's success in staying ahead of the curve in the packaging industry is a testament to its dedication to innovation, sustainability, and customer-centricity. By embracing technological advancements, leading in eco-friendly solutions, collaborating with industry leaders, and adapting to evolving consumer preferences, MJ Global continues to set new standards in the packaging sector.
Industrial Tech SW: Category Renewal and CreationChristian Dahlen
Every industrial revolution has created a new set of categories and a new set of players.
Multiple new technologies have emerged, but Samsara and C3.ai are only two companies which have gone public so far.
Manufacturing startups constitute the largest pipeline share of unicorns and IPO candidates in the SF Bay Area, and software startups dominate in Germany.
Best practices for project execution and deliveryCLIVE MINCHIN
A select set of project management best practices to keep your project on-track, on-cost and aligned to scope. Many firms have don't have the necessary skills, diligence, methods and oversight of their projects; this leads to slippage, higher costs and longer timeframes. Often firms have a history of projects that simply failed to move the needle. These best practices will help your firm avoid these pitfalls but they require fortitude to apply.
[To download this presentation, visit:
https://www.oeconsulting.com.sg/training-presentations]
This presentation is a curated compilation of PowerPoint diagrams and templates designed to illustrate 20 different digital transformation frameworks and models. These frameworks are based on recent industry trends and best practices, ensuring that the content remains relevant and up-to-date.
Key highlights include Microsoft's Digital Transformation Framework, which focuses on driving innovation and efficiency, and McKinsey's Ten Guiding Principles, which provide strategic insights for successful digital transformation. Additionally, Forrester's framework emphasizes enhancing customer experiences and modernizing IT infrastructure, while IDC's MaturityScape helps assess and develop organizational digital maturity. MIT's framework explores cutting-edge strategies for achieving digital success.
These materials are perfect for enhancing your business or classroom presentations, offering visual aids to supplement your insights. Please note that while comprehensive, these slides are intended as supplementary resources and may not be complete for standalone instructional purposes.
Frameworks/Models included:
Microsoft’s Digital Transformation Framework
McKinsey’s Ten Guiding Principles of Digital Transformation
Forrester’s Digital Transformation Framework
IDC’s Digital Transformation MaturityScape
MIT’s Digital Transformation Framework
Gartner’s Digital Transformation Framework
Accenture’s Digital Strategy & Enterprise Frameworks
Deloitte’s Digital Industrial Transformation Framework
Capgemini’s Digital Transformation Framework
PwC’s Digital Transformation Framework
Cisco’s Digital Transformation Framework
Cognizant’s Digital Transformation Framework
DXC Technology’s Digital Transformation Framework
The BCG Strategy Palette
McKinsey’s Digital Transformation Framework
Digital Transformation Compass
Four Levels of Digital Maturity
Design Thinking Framework
Business Model Canvas
Customer Journey Map
Top mailing list providers in the USA.pptxJeremyPeirce1
Discover the top mailing list providers in the USA, offering targeted lists, segmentation, and analytics to optimize your marketing campaigns and drive engagement.
Building Your Employer Brand with Social MediaLuanWise
Presented at The Global HR Summit, 6th June 2024
In this keynote, Luan Wise will provide invaluable insights to elevate your employer brand on social media platforms including LinkedIn, Facebook, Instagram, X (formerly Twitter) and TikTok. You'll learn how compelling content can authentically showcase your company culture, values, and employee experiences to support your talent acquisition and retention objectives. Additionally, you'll understand the power of employee advocacy to amplify reach and engagement – helping to position your organization as an employer of choice in today's competitive talent landscape.
1. 1
Summary of the report on Establishment and Public
Enterprises (EPE) sector accompanying the 2021 Finance
Bill
During his Speech from the Throne of July 29, 2020, His Majesty King Mohammed VI, may God assist him, gave
his High Guidelines for the implementation of an ambitious recovery plan, the generalization of social coverage
and the public sector reform.
Thus, His Majesty called for a profound reform of the public sector which must be launched with diligence to
correct the structural dysfunctions of public establishments and enterprises, guarantee optimal complementarity
and coherence between their respective missions and, ultimately, improve their efficiency. economic and social.
To this end, he called for the creation of a National Agency whose mission will be to ensure the strategic
management of state holdings and to monitor the performance of public establishments and enterprises.
Along this line, during the Speech to Parliament on the occasion of the opening of the 1st
session of the 5th
legislative year of the 10th
legislature, His Majesty the King, may God assist him, called for a substantial and
balanced redefinition the public sector and that the aforementioned Agency plays a key role in this area.
His Majesty the King also called for the creation of a Strategic Investment Fund "to fulfil a mission of supporting
production, support and financing activities of major public-private investment projects, in various fields. "And
which the Sovereign called" Mohammed VI Fund for Investment ".
Thus, these Royal Directives stimulate a new dynamic of reform of a strategic sector for the country and constitute
a historic turning point for Public Establishments and Enterprises (EPEs) which will see their strategic management,
management and governance fundamentally transformed.
They follow on from those provided by His Majesty the King during the Council of Ministers of October 10, 2018
relating to the restructuring of certain EPEs with strong socio-economic challenges in order to perpetuate their
economic models and establish the bases of their future development by refocusing their activities on their core
businesses.
I. THE PUBLIC SECTOR: PRESENTATION AND GLOBAL ANALYSIS
1.1. Composition
1.1.1. Composition and evolution of the public portfolio
At the end of September 2020, the public portfolio was made up of 225 Public Establishments (PE) operating in
diversified sectors and 43 Public Limited Companies with Direct Participation of the Treasury (PLC-DPT).
In addition, it should be noted that these EPEs hold 492 Subsidiaries or Participations, of which 54% are majority
owned. The Public Limited Companies (PLC) under the Territorial Communities group together 22 entities, which is
almost the same number as the last two years.
DAPE/ DPC/ SAS
2. 2
1.1.2. Distribution of public portfolio by category
❖ Commercial EPEs
The category of Commercial EPE includes entities providing a market activity (M) of public goods and services and
Public Financial Institutions (PFI).
At the end of September 2020, the commercial EPEs totalled 71 entities (including 28 Public Establishments and 43
Public Limited Companies with direct participation from the Treasury) thus representing 26.5% of the portfolio,
while they hold 98% of subsidiaries and public holdings (482) .
❖ Non Commercial EPEs
The Non-Commercial EEP category includes entities of a Non-Commercial (NM) nature generally providing a public
service (education, health, etc.) as well as Social Organizations (SO).
At the end of September 2020, non-commercial EPEs represented 73.5% of the portfolio (197 Public
Establishments), while they only held 2% of subsidiaries and public holdings (10).
1.1.3. Sectoral and territorial distribution of the public portfolio
EPEs are present in virtually all economic and social sectors, including infrastructure, energy, agriculture, sea fishing,
education, teaching, vocational training, health, tourism, industry, logistics and financial services. In addition, EPEs
are increasingly developing their international presence.
On another note, development programs have been launched at the territorial level thanks to the involvement of
a large group of EPEs, representing 64% of the public portfolio.
However, the public portfolio remains marked by a concentration at the level of two large regions (Rabat-Salé-
Kénitra and Casablanca-Settat) with 53% of the total EPE. However, several entities headquartered in these same
regions conduct their activities at national level.
In addition, a growing presence internationally with 86 subsidiaries, of which a fifth (1/5) is located in Africa, given
the strategic opportunities offered by the Continent.
1.2. Main indicators
For the period 2018-2023, the evolution of the main economic and financial aggregates of EPEs is positive. However,
for the 2020 closing forecasts, the trend is less favorable, given the economic effects dictated by the Covid-19
pandemic
The Turnover (T/O) of EPEs increased by 6% between 2018 and 2019, with a forecast decrease of 4% in 2020. The
forecasts for the period 2021-2023 would see a gradual increase compared to 2020 to reach 308,640 MDH.
The Added Value (AV) increased in 2019 by 4% compared to the previous year, while the probabilities of closing the
year 2020 would be down by 2% compared to the year 2019. The period 2021- 2023 would see an increase in the
AV in the EPE sector.
For the 2020 financial year, the updated investment EPE forecast is 70.172 MDH, down 31% from the original
forecast of 101.195 MDH. This adjustment is due in part, as usual, to the impact of decisions taken in the budget
discussions of the work of the parliamentary bodies of the EPE. In addition, the decrease reflects the impact of the
Covid-19 pandemic on the activity of some EPEs as well as on the implementation planning of some deferred
projects.
For the 2021 financial year, investments in the EPE sector would increase by 17%, to 81,884 MDH, in a context
marked by the uncertainties dictated by the Covid-19 pandemic.
3. 3
On another level, the income paid by the EPE in 2019, to the General State Budget reached 13,794 MDH, i.e. a
strong increase of 48% compared to the achievements of 2018 mainly due to the 900 MDH in the for the sale of
assets between EPE and MAD 2,400 million under the new mechanism retained for the financing of the New Port
of Safi. The completion rate is 120% compared to 95% at the end of December 2018.
The forecast of income from EPEs registered in the 2020 Amending Finance Law is MAD 14,697 million, i.e. an
additional revenue of MAD 2,488 million compared to the initial forecasts (MAD 12,209 million).
For 2021, the estimates, including disposals of assets and excluding privatization revenues, estimated at 4,000
MDH, amount to 17,118 MDH and mark an increase of 16% over the forecasts of the Corrective Finance Act of
2020.
II. EPE, MAJOR ACTORS IN ECONOMIC AND SOCIAL POLICY
The years 2019 and 2020 were marked by the continuation of dialogues with some PECs with strong socio-
economic challenges, in particular ONCF, ONEE, Barid Al Maghrib, RAM, ADM, HAO and ONDA. The main
objective of these dialogues is to identify structuring actions to be implemented to improve their governance and
performance and to identify actions capable of consolidating the role of the State Shareholder.
In this context and with a view to launching the foundations of a new model capable of supporting the development
and growth of the rail sector, the State-ONCF memorandum of understanding signed in July 2019, defines the
restructuring of this sector through:
• 1st
phase dedicated to the reprofiling of the Office’s debt, the disposal of non-strategic assets, the valuation
of the assets around the stations
• 2nd
phase of institutional transformation to be launched in 2022, leading to the separation between
commercial operation and management of the development of the railway infrastructure.
For the airport sector, consultations are continuing for the implementation of the recommendations of the study
relating to the new economic model of ONDA aimed at the separation between the sovereign mission relating to
civil aviation and the commercial operation of major airports. to be supported by dedicated entities to ensure the
development and professionalization of management, while further promoting partnership with private operators.
Concerning the RAM and given the severe impact of the Covid-19 crisis on the air transport sector in Morocco and
around the world, the stakeholders are diligently pursuing consultations for the in-depth review of the model of
this company to ensure optimal positioning on the market, notably through a restructuring plan relating to the
resizing of the fleet, the optimization of costs and the reshaping of its workforce.
With regard to the electric energy and drinking water sector, the steering committee for the study to set up
regional multiservice distribution companies integrating the 3 businesses (electricity, drinking water and liquid
sanitation) is continuing its works. This structuring project is part of the strategic vision whose purpose is to achieve
the separation between the activities of Production, Transport and Distribution.
In the same vein, and in accordance with the reform of the institutional framework of the Renewable Energies (RE)
sector introduced in 2016, in March 2020, the agreement for the transfer of RE projects from ONEE to MASEN was
concluded. pending completion of this operation before September 2021 by resolving all the constraints to be
overcome in order to formalize the effective porting of renewable energies by MASEN
For its part, the ONMT has put in place an action plan by setting itself the objective of transforming the crisis linked
to the Covid-19 pandemic into an opportunity and quickly regaining market share with issuing countries while
preserving competitiveness. of the Morocco destination in a context of reconquest of markets and increased
competition post-crisis.
III. MALFUNCTIONING AND FRAGILITIES HINDERING THE DEVELOPMENT OF THE
PUBLIC SECTOR
The results of the diagnostics carried out by the various control bodies (Parliament, Court of Auditors, External
Audits carried out on behalf of the Head of Government, General Finance Inspectorate, control officers of the
4. 4
Ministry in charge of Finance, etc.) show that, despite the various contributions of EPEs to socio-economic
development (infrastructure, public services, international presence, etc.), their development remains hampered
by a number of dysfunctions and weaknesses including:
• The multiplication of EPEs, particularly those of a non-market nature, with some overlapping between EPEs
or with administrative structures under the responsibility of ministries;
• The dependence of the EPE in particular those not merchant of the General Budget of the State;
• Concentration and weakness of transfers to the state;
• The growing needs expressed by commercial EPEs in terms of state support in equity and/or guarantees for
their sustainability/development;
• The absence of synergies and critical sizes allowing for external growth;
• The lack of momentum in the economic models of some PEEs and governance needing to be further
boosted.
• Liquidations (more than 70 entities) which have dragged on for more than a decade due to lack of
voluntarism, in particular technical supervision
These weaknesses were exacerbated by the context born of the Covid-19 pandemic which directly affected some
PECs exposing their structural weaknesses. At the same time, the crisis creates new opportunities for substantive
and accelerated reforms.
IV. CHANNELS FOR A DEEP REFORM OF THE PUBLIC SECTOR
PHASE I (October 2018 - June 2020): ACTION PLAN FOR THE
RESTRUCTURING OF EPE
During the year 2019 and until July 29, 2020, date of the Throne Speech, the implementation of the action plan
put in place in application of the Royal Guidelines provided during the Council of Ministers of October 10, 2018
aimed at restructuring of some PECs was continued.
Thus, the years 2019 and 2020 were marked, in particular, by the continuation of strategic dialogues with certain
EEPs with strong socio-economic issues mentioned above, in particular the ONCF, ONEE, Barid Al Maghrib, RAM,
ONDA, HAO and ADM.
In addition, the strengthening of the governance of the EPE is sought through the reform projects of the
governance and financial control system of the State on the EPE and updating of the Code of good practices for
the governance of the EPE.
In addition, and following the Royal Guidelines contained in the Royal Speech of August 20, 2018 and the Council
of Ministers of October 10th 2018, the MEFRA continues to undertake actions with the objective of putting in place
concrete solutions to the problem of deadlines of payment including those of EPE. Thus, since October 2019, there
has been a regular monthly publication of the payment terms declared by the EPEs. The latter were also
encouraged, like other public operators, to accelerate the payment of sums due to companies, in particular SMEs
and very small businesses following the dissemination of the MEFRA circular of March 26, 2020 on this subject.
Likewise, 2020 was marked by the holding of the 3rd meeting of the Observatory of Payment Deadlines on February
7th 2020, at the end of which it was agreed to put in place a system of pecuniary sanctions against companies with
delays beyond regulatory limits whose proceeds will be allocated to support the financing of entrepreneurship. At
the same time, the gradual implementation of electronic filing of invoices at the EPE level was initiated following
the MEFRA circular of June 1st 2020. The combination of these actions leads to a substantial reduction in the
payment deadlines for EPEs In terms of public procurement, the year 2020 was marked by the acceleration of the
implementation of the national preference through the publication of two circulars, including that of the Head of
Government, of November 25th 2020 Circular n ° 15-20 -cab of 21 moharrem 1442 (September 10, 2020), relating
to the application of national preference and the encouragement of the use of national products. The second
MEFRA circular, dated July 28, 2020, invites EPEs with their own procurement regulations to amend the said
regulations in order to align with the new provisions introduced by the regulations governing public procurement
as completed in 2019 and this, in terms of the obligation to resort to national preference and access of
cooperatives, unions of cooperatives and self-employed persons to EPE markets.
On another level and with the objective of further developing Public-Private Partnerships (PPP), 2020 saw the
adoption of Law No. 46-18 amending and supplementing Law No. 86-12 on PPP contracts. The implementing texts
5. 5
of this law, introduced into the approval circuit in September 2020, address a number of issues relating to the
institutional framework and the operating mode, particularly in terms of governance and the specificity of local
authorities.
Regarding privatizations, the program covering the period 2020-2023 concerns entities registered on the list of
privatizations, namely Maroc Telecom, Marsa Maroc, BIOPHARMA, SONACOS, La Mamounia and Energie Electrique
de Tahaddart.
Under the Amending Finance Law for 2020, no revenue has been provided for the disposal of State holdings. The
completion of the said disposals has been rescheduled for the years 2021 and 2022, due to the context marked by
the Covid-19 pandemic, market conditions, as well as the legal and regulatory deadlines and procedures necessary
for the completion of operations. privatization.
PHASE II (FROM July 29th 2020): LAUNCH OF THE DEEP REFORM OF
THE PUBLIC SECTOR
During the Council of Ministers of October 14th 2020, the emphasis was placed on strengthening the exemplary
nature of the State and the rationalization of its management, through the launch of a major reform of the public
sector, the treatment of structural dysfunctions of public establishments and enterprises with the aim of achieving
greater complementarity and coherence in their missions and improving their economic and social efficiency.
To this end, the main actions taken or in preparation for the deployment of the deep reform of the public sector in
application of the High Royal Guidelines contained in the Royal Speech of July 29th 2020 and in the Royal Speech
to Parliament on the occasion of the opening of the 1st session of the 5th legislative year of the 10th legislature,
mainly concern:
• The reform of the EPE through the substantial and balanced redefinition of the public sector and the conduct
of proactive operations to restructure and resize the EPE sector;
• The creation of the National Agency responsible for ensuring the strategic management of State holdings
and monitoring the performance of EPEs.
1. Founding texts of public sector reform
With a view to the rapid operationalization of the aforementioned Royal Guidelines, two founding texts are
proposed for adoption before the end of 2020 and relate to:
• Reform of the EPE;
• The creation of the National Agency responsible for the strategic management of State holdings and
monitoring the performance of EPE.
These projects will make it possible to supervise and plan the resizing and restructuring operations of the EPE sector
and to bring out the role of the State Shareholder which will be carried by the future Agency.
In addition, work is underway to quickly implement all the mechanisms likely to guarantee the necessary
effectiveness of the interventions of the Mohammed VI Fund for Investment. The formentioned Fund, initially
created in the form of a C.A.S, will be endowed with the legal personality and adequate managerial structures able
to guarantee its contribution to the success of the recovery of the Moroccan economy in a context marked by the
negative impacts of the Covid- 19.
2. Axes of the reform
2.1. For a comprehensive reform of the EPE
For the conduct of the reform, a differentiated approach to the portfolio is considered, distinguishing two
categories for which the proposed actions will be adopted:
• For commercial EPEs (Merchants and Financials):
o Strengthening the sustainability of the model: reduction of dependence on the BGE, better
contribution to the BGE, valuation of assets, PPP, etc.;
6. 6
o Generalized transformation of said Public Establishments into Public limited companies;
o Creation of new homogeneous sectoral groups/holdings;
o Liquidation/dissolution of EPE whose mission is no longer proven.
• For non-commercial EEPs (Non-commercial and social):
o Liquidation / dissolution of EPEs whose mission is no longer opportune with the reinstatement of
certain missions in the concerned ministries;
o Regrouping of some EPE whose mission would be justified but requiring synergies ;
o Review of models and missions to reduce dependence on the BGE.
In this context, the reform will relate, according to a targeted and proactive approach, to the following main
components covered by the provisions of the bill : transformation of public establishments (PE) of a commercial
nature into public limited companies (A), dissolution / liquidation of EPE (B), evaluation of the EPE missions (C) and
Creation of public establishments and enterprises (D).
A. Transformation of public establishments (PE) of a commercial nature into public limited
companies.
This section will include general provisions applicable to PE concerned by this transformation as well as specific
provisions to certain PE to deal with aspects relating to the carrying out of sovereign missions (regulation, public
service, public power, etc.).
B. Dissolution/liquidation of EPE
The dissolution / liquidation of some EPE is motivated by the fact that their missions are no longer appropriate and
/ or outdated and their contributions in terms of socio-economic development near zero. At first glance, it should
be remembered that 74 EPE liquidation operations are in progress and have been going on for more than a decade
due to lack of voluntarism from the stakeholders. In this regard, a study on the reform of the liquidation system
was launched by MEFRA in 2020.
Regarding the draft bill, it will establish the list of EPEs and subsidiaries and companies whose fields of action no
longer correspond to the missions of establishments and parent companies and which must be subject to
dissolution/liquidation. It will be an opportunity to introduce certain rules and deadlines able to avoid reproducing
the difficulties and delays that marked previous operations, including in particular the establishment of a Central
Authority in charge of liquidations.
C. Evaluation of the EPE missions
The absence of a mandatory mechanism for the evaluation of EPE missions on a regular basis has resulted in the
maintenance of some EPE whose existence is no longer justified.
Thus, the reform project will establish the obligation to assess, over a ten-year period at least, the relevance of
maintaining existing EPEs through an in-depth assessment of their missions. These evaluations should also relate
to the subsidiaries.
D. Creation of public establishments and enterprises
The creation of new EPEs as well as their subsidiaries must obey precise rules and have as an immediate effect the
abolition of the administrative or ministerial structure or any other organization previously in charge of the same
missions devolved to the public establishment or the public enterprise concerned and the transfer if applicable of
the resources at its disposal to the newly created entity.
Regarding the creation of new subsidiaries, it should be limited to duly justified cases such as the creation of
strategic alliances or the backing of private or public partners according to a viable business model.
Control of the size of the public portfolio is also sought through consolidation/merger/attachment/merger
operations.
7. 7
Finally, this control of the portfolio will also be carried out through the transfer of certain entities to the private
sector totally or partially according to the new vision of the shareholding strategy of the State which will be carried
by the new Agency to be created.
2.2. Project to create the National Agency for the strategic management of State
holdings and EPEs performance monitoring
One of the levers of the reform consists in the creation of a National Agency whose mission will be to ensure the
strategic management of State holdings and to monitor the performance of the EPEs.
The main tasks of this Agency, within a predetermined EPE scope, will be to:
• Ensuring the State's economic interests;
• Incarnate and exercise the function of the State Shareholder, ensuring strategic management of the State’s
holdings;
• Monitor the performance of public establishments and enterprises;
• Professionally represent the State in the deliberative bodies of public establishments and enterprises within
the scope of the Agency's action;
• Implement the privatization program and other capital operations.
The main objectives of the Agency revolve around:
• Modernization and improvement of governance, transparency and accountability of establishments and
EPEs falling within its scope as well as the development of CSR;
• The search for synergies and economies of scale at the level of certain EPE groups;
• Monitoring the performance of EPEs while ensuring the sustainability of their model and their financial
profitability;
• Management control of EPEs falling within its scope, via a system of dissemination and feedback of
information making it possible to regularly monitor and evaluate their performance.
The scope of the Agency, to be updated regularly, will include all EPEs with a commercial vocation.
On another level, the amendment of the provisions relating to privatization is necessary so that the Agency to be
created can carry the prerogatives of the Minister in charge of privatization defined by Law No. 39-89. This
amendment will make it possible to adapt the processes relating to capital operations (including privatizations,
asset sales, equity investments, etc.) to the accountability objectives of governance bodies and EPE leaders.
2.3. Establishment of the Mohammed VI Investment Fund
As part of the economic recovery plan aimed at mitigating the negative impacts that Morocco is suffering, like the
rest of the countries of the world, in relation to the health and economic crisis linked to the Covid-19 pandemic and
in conformity with the Royal Instructions a Strategic Investment Fund was created in the form of a Special
Assignment Account, with a target size of MAD 45 billion, under the provisions of Decree No. 2-20-528 August 12,
2020.
This Fund, already endowed with MAD 15 billion, is intended to support production activities, support as well as
the financing of major public-private investment projects, in various fields of activity.
To operationalize this mechanism, the "Mohammed VI Fund for Investment" will have legal personality in the form
of a public limited company with a board of directors. The mission of this company will be to support the activity of
economic operators including private sector companies and EPEs, support and finance major public and/or private
investment projects in various fields.
The creation of the Mohammed VI Investment Fund, in the form of a public limited company, has advantages linked
in particular to the mode of governance, the efficiency of management and transparency.
This institutional framework will also allow the Fund to adopt an investment strategy that gives more visibility to
the priorities and choices of State intervention in the economic sphere.