Investment: Court of Auditors points out shortcomings

Mrs. Zineb El Adaoui clearly has plenty of stamina. The first president of the Court of Auditors delivered a speech to the two chambers of parliament, which lasted over an hour and 45 minutes, without stopping. She touched on a number of economic and social aspects, as well as strategic projects.

The reform of the Investment Charter did not elude the scrutiny of the magistrates at the Court of Auditors. At the strategic level, implementation of the Investment Charter began with the commitment of all parties concerned, including the Government, the private sector, and the banking world. However, the completion of the Charter remains dependent on the need to speed up the development of a national investment strategy in order to formalize all the components of the reform, which are currently being drawn up by the various players concerned, said the First President. In this context, the Court of Auditors emphasizes the need for coordination and complementarity between all parties, in particular between the line ministry and the Mohammed VI Investment Fund. The Court also calls for mechanisms to be put together to improve convergence and increase the impact of State interventions in the field of investment.
With regard to investment support systems under the new Charter, the Court recalls the publication of regulatory texts relating to the basic support system and that relating to strategic projects. However, the second part of the implementing decrees relating to the promotion of Moroccan companies at international level has not yet been adopted, despite the fact that the six-month deadline set for this purpose has been exceeded. As for the third part of the laws and regulations relating to the support scheme for very small businesses and SMEs, the Court of Auditors stresses the importance of enacting them as soon as possible. The initial 12-month deadline for this operation has also been exceeded.
Improving the business climate has not been overlooked. In March 2023, the Government had announced the adoption of a new strategic roadmap for the 2023-2026 period at the national conference on the business climate. As a result, the implementation of the reform’s components requires further work to ensure buy-in, convergence, integration, and mutualization in the use of resources. The same applies to the implementation of steering systems, which will enable precise monitoring of the roadmap implementation.
The Court of Auditors also recommends updating the content of the reform of the Regional Investment Centers (CRIs) and the creation of unified regional investment commissions to adapt them to strategic and institutional developments.
Mohamed CHAOUI