IFC and CNEA join forces to unleash Morocco's private sector potential
IFC, a member of the World Bank Group, and the National Committee for the Environment of Business (CNEA) have signed a memorandum of understanding to improve business climate in Morocco. The ceremony also marked the launch of a national survey that will assess the obstacles to business development in Morocco.
As part of this partnership, IFC will help the CNEA to identify the main obstacles to the development of the Moroccan private sector as well as the reforms likely to support its development. The National Business Environment Survey, conducted jointly with the World Bank's Enterprise Survey team, is a flagship component of this project.
It will target a sample of local businesses and identify the challenges they face. The IFC-CNEA partnership has been set up to help further improve the business environment and unlock the potential of Moroccan companies for better economic development as well as enhancing the country's attractiveness for international investment.
"The complexity of enterprise-related reform projects and their significant economic and social impact are factors that sometimes make it difficult to identify priorities," said Lahcen Daoudi, Minister of General Affairs and Governance. "Therefore, as part of the CNEA's work, the government will develop a multi-year work plan to improve the business climate and activate associated reforms using a participatory public-private methodology. Priority will be given to the most urgent projects, allowing the optimal development of the business climate and clarifying the medium and long-term vision of private sector development. "
Over the last decade, Morocco has adopted several reforms that facilitate business in the country. Indeed, in the 2019 edition of the Doing Business report of the World Bank Group, it rose to 60th worldwide, an improvement of 68 places in this ranking since the creation of the CNEA.
"Morocco is positioning itself as an attractive destination for investors," said Mouayed Makhlouf, IFC's Regional Director for the Middle East and North Africa. "After making good progress in improving its business climate, the country intends to continue its reform agenda to unleash the potential of the private sector to create jobs and more economic opportunities for all citizens.”
The project has received support from the Swiss State Secretariat for Economic Affairs and will be carried out in close collaboration with the World Bank.