Daily Press Review - Thursday, May 9, 202

Morocco: A Prime Destination for Investors - A Strong Message from Mohcine Jazouli in Dallas

At a recent roundtable in Dallas, Mohcine Jazouli, the Moroccan Minister Delegate in charge of Investment, highlighted Morocco's strengths in attracting foreign investment.

Speaking to a gathering of investors and business leaders at the USA-Africa Business Summit, Mr. Jazouli emphasized Morocco's successful track record in promoting investment, its strong international credibility, and its strategic positioning within Africa.

The minister outlined the Kingdom's committed approach over the past 25 years, characterized by economic openness, the establishment of high-quality infrastructure, and a robust dedication to sustainable development.

These efforts have propelled Morocco to a leading position in Africa across several key sectors, including automotive, aerospace, textiles, pharmaceuticals, and outsourcing. The country has also distinguished itself with its pioneering focus on energy transition, with substantial investments in renewable energy.

This dynamic growth has led to a significant increase in private investments, particularly in promising sectors such as electric mobility and green hydrogen. The influx of investment has spurred the demand for green infrastructure, essential to meet the country's growing needs, especially as Morocco prepares to co-host the FIFA World Cup in 2030.

To support this growth and attract even more investors, Morocco has established an attractive regulatory framework, offering tax incentives and guarantees for strategic infrastructure projects. The country is also developing innovative public-private partnerships, thereby mobilizing the necessary resources to finance large-scale projects.

Among the specific examples cited by Mr. Jazouli were the development of a 1,500 km electric transport line connecting Dakhla to northern Morocco, and the creation of the Mohammed VI Fund for Investment, with an initial capital of $1.5 billion aimed at raising at least three times that amount in private capital.

Source: Al Bayane

Morocco-Peru: A Promising Partnership for Dakhla-Oued Eddahab and Piura

A twinning agreement has been signed between the Regional Council of Dakhla-Oued Eddahab in Morocco and the Regional Government of Piura in Peru, paving the way for bilateral cooperation in several areas of mutual interest.

This agreement, signed by El Khattat Yanja, President of the Regional Council of Dakhla-Oued Eddahab, and Luis Neyra León, Governor of Piura, is part of the decentralized cooperation framework between Morocco and Peru. It opens promising avenues for strengthening cooperative and friendly relations between the two regions.

The twinning agreement aims to foster mutual relations based on friendship and cooperation, promote values of peace and friendship, and deepen understanding between the two peoples. It also encourages the development of an action plan to promote sustainable development, economic growth, technology, and industrialization in both regions.

The support of business opportunities in commerce and tourism, along with promoting cultural, artistic, and educational exchanges, are among the goals of this agreement. Both parties also pledge to strengthen technical and scientific cooperation between research institutions, businesses, universities, and schools, while supporting training and technology transfer.

Source: Le Matin

Alarmingly High Increase in Phishing Cyberattacks in Morocco: Banks and Payment Systems Are Key Targets

According to Kaspersky, phishing attack attempts in Morocco surged by 32% in the first quarter of 2024 compared to the same period last year. This worrying trend particularly affects attacks involving financial issues, such as e-commerce, banks, and payment systems.

Moroccan banks experienced a dramatic increase in phishing attacks, with a nearly 210% rise in the first quarter of 2024 compared to the same period in 2023. Conversely, companies providing payment systems witnessed a significant drop in the number of attacks, from 683 in Q1 2023 to 315 in Q1 2024 (-54%).

Phishing is a form of cybercrime where attackers deceive users into disclosing sensitive information or downloading malicious software. Cybercriminals often pose as legitimate entities, such as banks or online shops, to gain the trust of their victims.

The growing use of artificial intelligence by cybercriminals makes phishing messages and fraudulent websites more convincing, complicating the distinction between legitimate communication and phishing attempts.

Source: Aujourd'hui Le Maroc

Fes: Launch of an Ambitious Program to Combat Slum Housing and Revitalize Underserved Neighborhoods

The Fes Commune Council has approved a partnership agreement to finance and implement an ambitious program to combat slum housing and rehabilitate rundown neighborhoods in Fes.

This program, set to run from 2024 to 2028, aligns with the royal directives to improve the urban fabric of Morocco. It will focus on areas within the urban zones of Mérinides, Chrarda, Janate, Sahab El Ward, Saiss, Zouagha, and Bensouda.

The program includes demolishing dilapidated buildings and constructing new social housing that meets urban planning and decent housing standards. It also entails the rehabilitation of sanitation networks, potable water, and electricity systems, as well as the improvement of public spaces and roads.

Funding for the program will be provided through a partnership between the Fes Commune, the National Agency for the Fight Against Slum Housing (ANLI), and private operators. The total investment amount has yet to be disclosed.

This large-scale program is expected to significantly improve the quality of life for residents in the disadvantaged neighborhoods of Fes. It will also help revitalize the local economy and boost the city's attractiveness.

Source: Le Matin

Agadir Celebrates the Argan Tree: 3rd Edition of the International Argan Fair in Full Swing

From May 8 to 12, 2024, Agadir is hosting the 3rd edition of the International Argan Fair, an event held under the High Patronage of His Majesty King Mohammed VI. Organized by the National Agency for the Development of Oasis Zones and the Argan Tree (ANDZOA) and the Ministry of Agriculture, Maritime Fisheries, Rural Development, and Water and Forests, the fair celebrates Morocco's iconic argan tree and its unique ecosystem.

The event highlights the crucial role the argan tree plays in the economic and social development of local communities. This tree, which produces a unique and valuable product, argan oil, provides rural populations, particularly women, with a source of income and economic empowerment.

Visitors to the fair can explore the rich intangible heritage linked to the argan tree. Exhibitions showcasing argan oil production techniques, local gastronomy, and handicrafts put the spotlight on the traditional expertise of women in the argan-producing regions.

The fair also serves as a platform for cooperatives and argan oil producers to promote their products and find new markets. It provides an opportunity to showcase the quality and variety of argan-derived products, such as cosmetic oil, soap, honey, and food products.

Source: Aujourd'hui le Maroc

Record Prison Overcrowding in Morocco: Dire Living Conditions

The number of inmates in Moroccan prisons reached a new high in 2023, with over 102,653 individuals incarcerated. This alarming situation has resulted in severe prison overcrowding, with an average space per inmate of barely 1.75 square meters and an overcrowding rate of 159%.

Prison overcrowding has detrimental effects on the living conditions of inmates, leading to a lack of space and limited access to basic services such as medical care and hygiene. This situation can create tensions and pose risks to both inmates and prison staff.

The General Delegation for Penitentiary Administration and Reintegration (DGAPR) has implemented several measures to address prison overcrowding, including constructing new prisons and rehabilitating older facilities. The DGAPR has also enhanced healthcare provision by increasing the number of prison medical units and improving access to dental care.

Despite the challenges related to prison overcrowding, progress has been made in education and vocational training for inmates. In 2023, nearly 7,000 inmates participated in educational and informal teaching programs, and more than 8,000 completed vocational training courses.

Source: Le Matin

NEET Youth in Morocco: The CESE Proposes a Multidimensional Approach to Their Socioeconomic Integration

The Economic, Social, and Environmental Council (CESE) has released an opinion on the situation of NEET youth in Morocco, referring to those aged 15 to 24 who are not in employment, education, or training. The CESE estimates that over 1.5 million young Moroccans fall into this category, a figure that rises to 4.3 million if the age range is extended to 34 years.

The CESE points out the vulnerability of these youths and the various forms of exclusion they face. This situation has adverse effects not only on the youths themselves but also on society as a whole, exacerbating poverty, disparities, and fostering frustration and deviance.

The CESE notes that Morocco has a significant demographic dividend, with over 6 million young people. However, this demographic boon is likely to diminish by 2040, underscoring the urgency of acting now to maximize this resource.

The CESE expresses concern over the rising youth unemployment rate, which stands at 8.35% in 2023, and the declining female labor force participation rate, now only 19%. These figures underscore the barriers to labor market access for youths and women and the need for measures to address this issue.

Source: Le Matin du Sahara

AMSSNuR and IAEA Launch Comprehensive Regional Training Program on Radiological Safety

The Moroccan Agency for Nuclear and Radiological Safety and Security (AMSSNuR) and the International Atomic Energy Agency (IAEA) launched a comprehensive regional training program on radiological safety and the security of radioactive materials on Monday in Rabat.

This six-week program, running from May 6 to June 14, is designed to strengthen the capacities of new African regulators to ensure effective regulatory control of radiological safety and the security of radioactive materials. The program brings together participants from 13 African countries: Benin, Burundi, Congo, Côte d'Ivoire, Comoros, Central African Republic, Democratic Republic of the Congo, Gabon, Mauritania, Niger, Senegal, Chad, and Morocco.

The training program includes a variety of workshops, in-depth theoretical sessions, and practical case studies, providing regulators with exposure to best practices and international safety standards.

Speaking at the program's launch, Mr. Saïd Mouline, Director General of AMSSNuR, emphasized that "the issue of nuclear and radiological safety and security is a cornerstone for sustainable development and public protection." He highlighted the potentially devastating consequences of accidents caused by loss of control or misuse of radiation sources, underscoring the critical importance of effective regulatory control in this field.

Source: Le Matin

Reform of the Strike Law Debated in the Chamber of Counselors

The Minister of Economic Inclusion, Small Business, Employment, and Skills, Younes Sekkouri, announced that the government intends to address the reform of the strike law before introducing legislation related to labor unions.

During an oral question session at the Chamber of Counselors, Mr. Sekkouri stated that passing the strike law is a matter of urgency and that the bill concerning labor unions will follow thereafter. He noted that the reform of the strike law has been stalled in Parliament for nearly eight years and stressed the need to adopt it during the current parliamentary session.

The minister emphasized that this regulatory law must first ensure the right to strike before detailing the conditions for its exercise. He also indicated that the proposed legislation aligns with fundamental principles concerning constitutional compliance and international labor law related to the right to strike.

Source: L'Opinion

HCP Unveils a New Approach to Measure Moroccan Household Purchasing Power

The High Commission for Planning (HCP) has published a groundbreaking study on Moroccan household purchasing power, adopting an innovative categorical approach that combines conventional statistics with Big Data.

The study, based on data from 2018 to 2022, goes beyond traditional approaches by integrating a unique web index. This index, called the "Web Index," is derived from the online purchasing intentions of Moroccan internet users, providing a more nuanced analysis of categorical purchasing power.

The Web Index, developed from Moroccan consumers' online searches, sheds light on purchasing trends and the products that generate the most interest. This additional information enriches the objective analysis of categorical purchasing power, which relies on conventional national accounting data and household living standard surveys.

The integration of Big Data into the analysis of purchasing power represents a significant advancement for HCP. This innovative approach captures real-time consumer signals and offers a more precise and nuanced view of the purchasing power of Moroccan households.

Source: Les Inspirations Éco