Empowering Moroccans Abroad to Boost National Economy
During a recent event in Tangier, Morocco's Head of Government, Aziz Akhannouch, emphasized the significant role that Moroccans living abroad play in shaping the nation’s economic landscape. He described the diaspora as a "real economic, social, and investment force," underlining the government's commitment to redirecting the remittances sent by these expatriates into productive investments that can create jobs and stimulate economic growth. Akhannouch revealed that remittances from Moroccans abroad are projected to surpass a remarkable 122 billion dirhams by 2025, highlighting their crucial contribution to the Moroccan economy.
In his address at the National Forum on "Investment and Moroccans of the World," Akhannouch articulated a vision for a transformative economic relationship with the diaspora. He pointed out that beyond merely sending money back home, these individuals bring with them invaluable expertise, skills, and international networks that can be leveraged for Morocco's development. The government’s strategy aims to convert these remittances into investments that will foster wealth generation, innovation, and territorial development throughout the country.
Strategic Initiatives to Attract Diaspora Investments
Akhannouch made it clear that the ambition of the Moroccan government is to position Morocco as the preferred destination for investments from its expatriates. He asserted that attracting diaspora investments transcends economic considerations, representing a strategic initiative for the nation’s future. He referenced royal directives that focus on bolstering institutions dedicated to supporting Moroccans living abroad, including reforms to the Council of the Moroccan Community Abroad and the establishment of the Mohammedia Foundation for Moroccans of the World.
Additionally, the Head of Government highlighted the ongoing economic transformation within Morocco, attributing it to structural reforms and major strategic projects initiated under the leadership of King Mohammed VI. These efforts have successfully transformed Morocco into a regional investment hub, drawing significant investments across various sectors. The government is actively reforming the investment ecosystem, as evidenced by the introduction of a new Investment Charter and a comprehensive roadmap for 2023-2026 aimed at enhancing the business climate, streamlining administrative processes, and expanding digital services for entrepreneurs.
The forum, organized by the Ministry of Investment alongside the department responsible for Moroccans residing abroad, seeks to fortify the diaspora's role in Morocco’s investment and development strategy. It serves as a platform for public and private stakeholders to engage in discussions centered around productive and sustainable investments, with dedicated panels addressing diaspora investment, institutional support, and financing mechanisms.
As reported by en.yabiladi.com.
