Taking Morocco's Economy Beyond the Agricultural Sector| MENAFN.COM

Saturday, 26 November 2022 03:14 GMT

Taking Morocco's Economy Beyond the Agricultural Sector

(MENAFN- Morocco World News) Rabat – The continues to depend on the . However, is directly impacting . Depending on the degree of rainfall, the growth varies between 1 percent and 4.5 percent of GDP.

In this situation, the intelligent alternative will be to develop the industrial sector to help realize non-agricultural growth. In fact, promoting the industrial sector would be based on real incentives for doing business in Morocco.

The incentives for investing in Morocco are multiple. The most important encouragements are based in offshore zones (tax free purchases, exemptions from employer contributions, and exemptions from minimum tax contributions) for encouraging emerging industries.

These incentives alone won't sufficiently encourage industrial expansion. Other measures must accompany the enterprises for developing the Moroccan's emerging industries (automotive, aeronautics, information technologies, and others).

Examples include: Reform the work code to encourage recruitment (litigation, right to strike)

Reduce importation rights for raw production materials

Establish new incentives for technical and professional training in emerging industries

Improve access to urban land by simplifying administrative procedures

At the end of the day, the emerging industries will constitute a veritable development lever for beyond the . Therefore, having effective cooperation between the government and the stakeholders of emerging industries represents the right way for new industrial growth.


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