The Importance of Investment for Economic Growth
Mouh Kouya, the President of the Commercial Court in Agadir, emphasized that investment is a fundamental driver of development and a key engine for the economy, as it creates job opportunities and generates wealth. He reiterated that building a robust economic foundation relies heavily on encouraging investment. In his address titled “Aspects of Investor Protection through Business Difficulty Procedures,” delivered at the Supreme Judicial Council's booth during the International Book and Publishing Fair, Kouya pointed out that both national and foreign investors are unlikely to risk their capital unless they operate within a clear and effective legislative framework. This framework should encompass business law, tax law, and labor law, alongside a specialized judiciary that ensures swift legal application to protect rights.
Kouya further elaborated that the procedures for business difficulties represent one of the most significant legislative innovations addressing investors, whether they are creditors or debtors. He highlighted that the provisions of Book Five are aimed at enhancing legal security, encouraging investment, protecting businesses, and preserving jobs. Furthermore, the judicial official noted that the legislator has adopted a gradual approach to addressing business difficulties, starting with internal prevention mechanisms within companies, all while maintaining confidentiality. He also mentioned the external prevention aspect, which is overseen by the court president, who may appoint a special agent or initiate reconciliation procedures before resorting to judicial settlement if necessary.
Judicial Governance and Investor Rights Protection
Samira Zaroud, the First Vice President of the Commercial Court of Appeal in Marrakech, discussed “Judicial Governance in Protecting Investor Rights,” stating that the goal of this governance is to ensure investor rights and protect investments through the proper application of legal texts and transparency in resolving disputes fairly and without discrimination. She stressed that judicial governance is how judges manage their work and authority within the court to achieve justice and effectiveness while enhancing investor confidence in the judicial institution. Various legal frameworks, including the Investment Charter, tax regulations, corporate law, arbitration, and mediation laws, play significant roles in bolstering investment and maintaining economic security and stability.
Moreover, Mohamed Mahboub, a director at the Office of the Public Prosecutor, addressed the protective role of the public prosecution regarding industrial property rights in regulating and encouraging investment. He raised questions about the state's ability to safeguard intellectual property rights in general and industrial property rights specifically, especially in light of the rampant issues of counterfeiting, piracy, and unfair competition, which he deems as obstacles to investment. Mahboub confirmed that specific legal protections have been afforded to industrial property rights, emphasizing that the legislator has provided particular protections against infringements through preventive and judicial safeguards, while also recalling the role of the public prosecution in the realm of industrial property and investment encouragement.
In his presentation, Mourad Fadail, a public attorney at the Court of Cassation, discussed “The Clarity and Ambiguity in Arbitration for Public Contracts.” He noted that alternative dispute resolution methods encompass various forms aimed at amicably resolving issues to allow for the continuity of relationships between investors, with arbitration being a key contributor to achieving legal security, which is a fundamental strategic choice for investment.
Lastly, the session concluded with a presentation by Professor Rousham Al-Taki, an esteemed academic, who addressed the regulation of the economic public order concerning competition-restricting practices, highlighting the theme “Market Transparency: From Guaranteeing Competitive Fairness to the Foundation of Economic Public Order.” He explained that competition is not an end in itself but a means to achieve three strategic goals: economic growth, resource allocation, and social welfare, linking these objectives to social security and stability, which are deemed essential for investment.
As reported by hespress.com.
