04/04/2014 (press release: media1press) // Morocco News Review
HM King Mohammed VI chaired this Wednesday in Casablanca the launching of the 2014-2020 national industrial growth plan, a leading program following suit to the “Emergence Strategy”.
On this occasion , HM the King chaired the signing ceremony of 14 documents, including 33 conventions related to the 2014-2020 industrial growth plan.
This ambitious plan will reinforce Morocco’s economic resilience, confirm its place among emerging nations in America, Europe, the Middle East and Africa and secure Morocco’s economic track.
The plan will be based on ten key measures, namely the creation of a new dynamic and a new relationship between large groups -steering enterprises- and SME’s, reinforcement of the status of industry as a job-generating activity, particularly for young people, and optimization of the social and economic impact of public procurement through industrial clearing.
This new plan will endeavor to support transition from the informal to the formal sector through the establishment of a complete mechanism for the integration of very small enterprises, meet the essential stake of matching skills with enterprise needs, setting up a public industrial investment fund, with a budget of 20 billion DH by 2020, and the creation of more accessible for-rent industrial parks.
The plan also features follow-up of free trade agreements, currently being negotiated, permanent monitoring of the respect of the existing FTA’s, the establishment of a “Deal Making” culture in seeking foreign direct investments and increasing Morocco’s African calling.
Implementation of this set of measures will allow for the creation, by 2020, of half a million jobs, half of which will be generated by foreign direct investments, as well increasing the industry’s share of the GDP by 9 points, from 14pc to 23 pc in 2020.
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