Investors looking to invest in the North African country of Morocco should, from now on, aim for their first port of call at a new website where all investible projects in the country have been collated. The new online bank of business projects, as it is so called, was launched by the country’s Ministry of Industry and covers projects from Agrifood to electronics to textiles, among others. Hundreds of projects are displayed in the form of files on the ministry’s website.
At least 500 projects will be launched by the 4th quarter of 2021. The creation of a bank of projects is part of the new 2021–2020 industrial recovery plan announced last week by Minister Moulay Hafid Elalamy (photo). The objective is to stimulate local industrial production in order to substitute locally produced products for those imported.
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The bank is open to any Moroccan entrepreneur with an industrial project. The sheets contain a detailed presentation of the projects, financial indicators relating to the amount to be invested and the expected profitability, data on the growth prospects of the market, as well as the investment mechanisms and advantages specific to each project.
The projects will benefit from grants, aid for tangible and intangible investment, tax advantages, financial aid for the acquisition of land or training. Funding for industrial or exporting companies in difficulty, and investments in companies operating in the green economy are also planned.
This initiative will allow a gain of 34 billion dirhams, out of a total of 180 billion dirhams of imports, and the creation of nearly 100,000 jobs.
Charles Rapulu Udoh
Charles Rapulu Udoh is a Lagos-based lawyer who has advised startups across Africa on issues such as startup funding (Venture Capital, Debt financing, private equity, angel investing etc), taxation, strategies, etc. He also has special focus on the protection of business or brands’ intellectual property rights ( such as trademark, patent or design) across Africa and other foreign jurisdictions.
He is well versed on issues of ESG (sustainability), media and entertainment law, corporate finance and governance.
He is also an award-winning writer