IFC, National Committee for the Business Environment partner to unlock potential of private sector in Morocco
IFC, a member of the World Bank Group, and the National Committee for the Business Environment (CNEA), have signed an agreement designed to improve the business climate in Morocco.
The ceremony also marked the launch of a national survey that will help Morocco gauge the challenges facing local firms.
IFC will support CNEA in identifying the main barriers to the development of Morocco’s private sector. IFC will also advise the CNEA on reforms that would encourage the development of domestic firms. The National Business Environment Survey, conducted in partnership with the World Bank Enterprise Survey team, will be an important part of that.
The survey will target a sample of local companies and identify the challenges facing businesses. The IFC-CNEA partnership is designed to improve the business environment, help unlock the potential of Moroccan businesses, foster growth, and attract continued international investments.
"The complexity of business-related reforms and their significant economic and social impact are factors that sometimes make it difficult to identify priorities,” said Lahcen Daoudi, Morocco’s Minister for General Affairs and Governance. “Therefore, as part of the CNEA's work, the government will develop a multi-year plan to improve the business climate and enact associated reforms, a process that will involve consultations with the private sector. Priority will be given to the most urgent projects, allowing for the optimal development of the business climate and the continuation of the country’s medium- and long-term plan for private sector development.”
Over the past 10 years, Morocco has enacted several reforms that have made doing business in the country easier. In the World Bank Group’s 2019 Doing Business report, the country ranked 60th in the world, a jump of 68 places since the CNEA’s creation.
“Morocco is sending a message that it is an attractive investment destination,” said Mouayed Makhlouf, IFC Director for the Middle East and North Africa. “Having taken great strides in improving its business environment, it is pushing forward with reforms that will unlock the potential of its private sector, and create jobs and economic opportunities for people across the country.”
The project was made possible thanks to the support of the Swiss Secretariat for Economic Affairs and will be delivered in close collaboration with the World Bank.