Daily Press Review - Monday, May 06, 2024
Morocco: New Powers for Regional Investment Centers (CRI)
Source: L'Economiste
The Moroccan government has taken a significant step in reforming the institutional framework for investment by adopting a new bill that overhauls the Regional Investment Centers (CRI) and establishes unified regional investment commissions. This new framework is designed to invigorate investment attraction and support project developers across various regions of the Kingdom.
The bill introduces a more efficient governance structure for the CRIs, with their boards chaired by either the head of government or a designated government authority. The regional investment commissions will be chaired by the director of the relevant CRI.
Additionally, the CRIs will have expanded powers, including the ability to prepare, approve, and sign investment agreements for projects with a total investment value below 250 million dirhams. This decentralization aims to streamline procedures and bring the administration closer to investors.
To ensure fair treatment of investment applications, the bill establishes a ministerial appeals commission tasked with reviewing appeals lodged by investors against negative decisions from the regional investment commissions. This commission, chaired by the head of government, is required to make decisions within 30 days, with immediate implementation.
Establishment of Appeal Commissions for CNSS Inspections
Source: L'Economiste
Moroccan business owners will soon have a new mechanism to contest decisions made by the National Social Security Fund (CNSS) following inspections and audits. The proposed amendment to the 1972 Dahir on Social Security, recently approved by the government council, includes the creation of regional appeal commissions and a national commission.
Before approaching these commissions, employers must first file a complaint with the CNSS within 60 days of receiving notification of the inspection results. If the CNSS's response is unsatisfactory, employers can file an appeal with the relevant commission within 60 days of the CNSS's decision notification.
Morocco and the Netherlands Collaborate on Green Ship Dismantling Project in Jorf Lasfar
Source: Aujourd'hui le Maroc
A Dutch delegation, led by Lara Müller, General Director of the Public Sector at Invest International, recently visited Morocco to explore collaboration opportunities for a green ship dismantling project in Jorf Lasfar.
This visit follows a memorandum of understanding signed between the two countries several months ago, which covers the development and financing of public infrastructure projects in Morocco.
The project reflects Morocco's ambition to rejuvenate its shipbuilding industry and position itself in the growing green ship dismantling market. Green ship dismantling involves deconstructing decommissioned ships in an environmentally friendly way, focusing on material recovery and minimizing environmental impact.
Morocco's strategic location on the Strait of Gibraltar and its expertise in recycling make it a strong candidate for this sector's growth. The Netherlands, a world leader in green ship dismantling, brings recognized expertise to this collaborative effort.
New Highway to Bypass Rabat and Connect Major Routes
A new highway is set to be constructed to bypass Rabat and connect the major routes between Rabat-Casablanca, Rabat-Fès, and Kenitra-Tanger. This project aims to reduce traffic congestion around Rabat and improve transportation links across the key cities in the region. It represents an important step in enhancing Morocco's infrastructure network and easing the flow of goods and people. Further details on the project's timeline and expected completion are anticipated soon.
New Bypass Highway for Rabat to Connect Key Routes
Source: Aujourd'hui le Maroc
The Ministry of Equipment and Water has launched a study for a new bypass highway to divert traffic around the city of Rabat. The project aims to ease congestion on major routes connecting Rabat-Casablanca, Rabat-Fès, and Kenitra-Tanger, reducing travel distances and times.
The bypass highway will allow travelers from Casablanca, Fès, or Tanger to avoid the often-congested city center of Rabat. This will contribute to improved traffic flow and reduced travel times, enhancing the quality of life for Rabat's residents.
The project is designed to create a modern and efficient highway with all the necessary infrastructure to ensure safety and comfort for users. It is part of the broader development and modernization of the national road network, which will also strengthen connectivity among Morocco's regions and stimulate economic development.
UNCTAD Selects Morocco to Strengthen Food Supply Chains
Source: Le Matin du Sahara
The United Nations Conference on Trade and Development (UNCTAD) has selected Morocco, alongside Lebanon, Barbados, and Trinidad and Tobago, to benefit from a program aimed at strengthening the resilience and sustainability of food supply chains in the face of global shocks.
The program, which runs from 2024 to 2027, aims to help selected countries improve food security and resilience in response to the various challenges and shocks experienced in recent years. These include the multidimensional crises in food, energy, and finance, exacerbated by disruptions caused by the Covid-19 pandemic, as well as geopolitical risks, climate change, and financial constraints.
Morocco's selection is based on its significant dependence on food imports and vulnerability to external shocks. However, the country also has considerable potential to bolster its food security due to its agricultural resources and strategic geographical position.
Tax Revenues in Morocco Rise by 9.9% by End of March 2024
Source: Le Matin du Sahara
Tax revenues in Morocco increased by 9.9% by the end of March 2024 compared to the same period last year, according to the Ministry of Economy and Finance. This growth is driven by strong performances in corporate tax (IS), income tax (IR), and value-added tax (TVA).
Corporate tax revenues rose by 17.4% by the end of March 2024, reaching a 43% completion rate. This increase is primarily due to improved revenues from tax regularization (+2.3 billion dirhams), the first advance payment (+703 million dirhams), and corporate tax on fixed-income investment products (+343 million dirhams).
Income tax revenues also increased, but at a more moderate rate of 3.2%, reaching a completion rate of 27.6%. This growth is mainly attributed to higher revenues from income tax on wages (+243 million dirhams) and income tax on real estate profits (+216 million dirhams).
Value-added tax revenues rose by 2.3 billion dirhams, or 2.3%, reaching a 24.9% completion rate. This increase is driven by higher domestic VAT revenues (+38.6%), while VAT on imports decreased by 0.9%.
International Day of the Midwife: Celebrating the Vital Role of Midwives in Rabat
Source: Le Matin du Sahara
The Moroccan Association of Midwives (AMSF) celebrated International Day of the Midwife on Friday in Rabat with the theme "Midwives: A Vital Solution for Climate." The event highlighted the crucial role midwives play in promoting maternal and child health, especially in a context marked by climate change.
The president of AMSF, Ms. Touria Harrizi, emphasized the critical role midwives have in providing quality care to pregnant women, mothers, and newborns, thereby contributing to reducing unnecessary interventions and avoidable maternal and neonatal deaths. This aligns with the United Nations' Sustainable Development Goal 3, which aims to ensure good health and well-being for all.
Ms. Harrizi also drew attention to the impact of climate change on maternal and child health. Natural disasters, water shortages, and malnutrition, exacerbated by climate change, increase risks for women and children.
In this context, midwives can play a vital role in providing maternal and child health care even in the most challenging situations. Their expertise and dedication were demonstrated during the Covid-19 pandemic and the Al Haouz earthquake.
Bank of Africa Unveils New CSR Charter for Sustainable and Responsible Growth
Source: Les Inspirations Eco
Bank of Africa has launched a new version of its Corporate Social Responsibility (CSR) charter, focusing on five key pillars, reinforcing its commitment to sustainable and inclusive growth.
In response to climate urgency and growing social issues, Bank of Africa reiterates its commitment to responsible development by updating its sustainability strategy. This initiative, led by its president, Othman Benjelloun, aims to position the bank as a reference in CSR on the African continent.
Since adopting its first CSR charter in March 2018, Bank of Africa has made significant strides in corporate social responsibility. The new charter represents a major step forward, aligning the bank's operations with its strategic objectives through 2030.
Moroccan National Tourism Office Targets Generation Z with TikTok 'Trend House'
Source: Les Inspirations Eco
The Moroccan National Tourism Office (ONMT) is reaching out to Generation Z with an innovative initiative on TikTok. Ten influential content creators from around the world have been invited to experience and share Morocco's culture in a unique "Trend House."
The event, which began this week in Marrakech, also includes visits to Essaouira and Ouarzazate. Content creators will explore Morocco's culinary and landscape richness, participating in tours and activities designed to showcase the country's diversity.
The ONMT aims to establish Morocco as a must-visit destination for young travelers. By leveraging TikTok's viral potential, the campaign aims to promote city breaks in Marrakech, desert adventures in Ouarzazate, and coastal charm in Essaouira.
A robust media plan, developed in collaboration with TikTok, is in place to maximize the campaign's reach. The ONMT hopes to generate more than 28 million views internationally, significantly boosting Morocco's visibility among Generation Z.
To equip Moroccan tourism professionals with the skills needed to make the most of this dynamic platform, the ONMT has also organized a "master class." This training session aims to help them create engaging and relevant content for Generation Z on TikTok.
Heat Wave Alert: Temperatures of 40 to 44°C Expected in Several Moroccan Provinces
Source: Liberation
Morocco is bracing for an intense heat wave from Tuesday to Friday, with temperatures potentially reaching 44°C in some regions. The Directorate-General of Meteorology (DGM) has issued an orange alert, advising caution amid the soaring temperatures.
The provinces of Assa-Zag, Es-Semara, Boujdour, Oued Ed-Dahab, and Aousserd are expected to bear the brunt of the heat wave, with temperatures ranging from 40 to 44°C from Tuesday to Friday. The rest of the country will also experience high temperatures, but generally below 40°C.