New Committee to Boost Morocco’s Reform of Regional Investment Centers

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Morocco has created an inter-ministerial committee to ensure the reform of Regional Investment Centers (CRI).

Head of Government Saad Eddine El Othmani chaired the first meeting of the committee on Thursday, October 8. 

The committee includes the Secretary-General of the Government, the Minister of Economy, Finance, and Administrative Reform, as well as representatives from other ministerial departments.

In his opening speech, El Othmani outlined the three main components of the upcoming reform.

First, the project must give Morocco’s investment centers administrative and financial autonomy, while broadening their field of action.

Second, the various commissions affiliated to CRIs must merge to create unified regional investment commissions. The mergers would improve decision-making and ensure the treatment of project applications under a 30-day deadline.

Uniting the commissions under one body would also simplify application procedures through an accelerated granting of investment projects’ authorizations.

Finally, the reform must focus on improving the quality of services provided by Morocco’s investment centers. CRIs must encourage investors to launch projects through economic incentives, as well as mediation between investors and other public administrations and establishments.

Since Law 47-18 relating to the reform of CRIs went into effect in February 2019, Morocco has made significant progress in this project, El Othmani announced.

However, the creation of an inter-ministerial committee to follow the restructuring of investment centers will further accelerate the reform, he said.

During their first meeting, committee members discussed the main steps for achieving the reform project. They also reviewed the action already taken to restructure CRIs.

Since Law 47-18 came into effect, the processing time of investment projects’ applications significantly decreased.

In 2020, projects received approval after an average period of 29 days. In previous years, the duration reached more than 100 days.

Source: moroccoworldnews.com