This event, held under the theme “MDM Investments: New challenges, new financing, institutional responses”, is part of a cycle of conferences initiated by the Moroccan World Trophies Foundation (TMM) in the main capitals of the countries reception, in order to exchange with public and private institutional leaders and to encourage investments by MREs.
AMDIE has worked in this direction to provide information and advice to Moroccans around the world, “with the aim of allowing them to take full advantage of the great opportunities available in our country”, he underlined.
For his part, Karim Amor, president of the 13th region of the General Confederation of Moroccan Enterprises (CGEM), dedicated to Moroccans around the world, expressed the commitment of the private sector in the guidance and assistance of MREs wishing to invest in their country of origin.
The employers are also ready to put in contact expatriates wanting to invest in the same sectors of activity or the same regions of the Kingdom, with the aim of creating a favorable business climate and facilitating adaptation to the market, he said. -he assured.
Mohammed Afrine, CEO of Bank of Africa EuroServices, for his part, emphasized the importance of MRE fund transfers, which contrary to experts’ expectations continued to evolve positively after the Covid-19 pandemic, specifying that when it comes to deposits, this money allows banks to finance many projects.
However, according to Mr. Arfine, the strategy of all banks in the Kingdom is now to see more MREs wishing to invest on their own in Morocco, ensuring that “the banking sector is happy to support them in the realization and financing of their projects.”
All participants subsequently took part in a question and answer session where they particularly focused on the Kingdom’s new investment charter and the Mohammed VI Fund for investment, which plays a role leader in promoting investment and increasing the capacity of the national economy.
A networking session was an opportunity for Moroccan entrepreneurs to share their experiences and discuss the high-yield business opportunities available to Morocco, particularly in energy, agriculture, tourism, telecommunications and finance.
The meeting, which was attended by the Consul General of Morocco in London, Mouaad Ibriz, councilors from the borough of Westminster, members of the Council of the Moroccan Community Abroad (CCME) and representatives of Moroccan banks in the United Kingdom Uni, constituted an ideal platform for connecting potential investors with public and private institutions and Moroccan donors.
TMM organizes the Moroccan World Trophies event which has been held every year in Marrakech since 2017 and which rewards MREs who stand out in scientific research, entrepreneurship, politics, sport, culture and associative work.
What specific support systems are in place for Moroccans living abroad to facilitate their investments in Morocco?
Interview Between Time.news Editor and MRE Investment Expert
Time.news Editor: Welcome, everyone, to our latest edition. Today, we have the pleasure of speaking with Mr. Karim Amor, the president of the 13th region of the General Confederation of Moroccan Enterprises (CGEM), who is here to discuss the recent conference held by the Moroccan World Trophies Foundation, focusing on investments from Moroccans living abroad (MREs). Karim, thank you for being here.
Karim Amor: Thank you for having me. It’s a pleasure to discuss such an important topic.
Editor: The theme of this conference was “MDM Investments: New challenges, new financing, institutional responses.” Can you elaborate on what specific challenges MREs face in investing back in Morocco?
Amor: Certainly. One of the primary challenges is navigating the Moroccan market, which can be quite different from their host countries. MREs often encounter regulatory hurdles, cultural differences, and even a lack of local networks that can make the investment process daunting. Our role at CGEM is to guide them through these challenges and provide the necessary support.
Editor: That’s an important aspect. The AMDIE has been actively working to provide information to MREs. What kind of information or advice do you think is most beneficial for them?
Amor: AMDIE focuses on providing insights about regulatory requirements, business opportunities, and financial advice. This way, MREs can better understand the landscape and seize opportunities that they might not be aware of. We want them to feel confident about investing in Morocco and to utilize their unique insights as expatriates.
Editor: It sounds like there’s a collaborative effort happening. You mentioned that private sector institutions are ready to assist MREs in connecting with each other. Can you explain how that process works?
Amor: Absolutely. We actively facilitate networking opportunities for expatriates looking to invest in Morocco. For example, we encourage meetings and workshops that bring together MREs who are interested in the same sectors or regions. This not only fosters a community but also helps reduce the risks involved by creating partnerships and sharing valuable insights among peers.
Editor: That’s a great initiative. Now, Mohammed Afrine from Bank of Africa EuroServices highlighted the continuity of MRE fund transfers post-COVID-19. What trends have you observed regarding these fund transfers, and how are they impacting the Moroccan economy?
Amor: The resilience of MRE fund transfers is remarkable. Contrary to what many had expected, these remittances have seen significant growth post-pandemic, contributing positively to our economy. They are vital as they not only support families but also drive investment in local projects, from small businesses to larger ventures. These funds are increasingly being channelled into impactful sectors like real estate and startups, enhancing economic development.
Editor: It’s encouraging to see such involvement. In your opinion, what more can be done to encourage MREs to invest back in Morocco?
Amor: We need to strengthen the relationship between the Moroccan government and MREs. This can be achieved through incentives such as tax breaks, legal assistance, and streamlined processes for starting businesses. Enhancing communication and showcasing success stories of other MREs can also motivate others to take action. Ultimately, it’s about creating an environment where they feel valued and supported.
Editor: Thank you, Karim, for sharing your insights today. It’s clear that with the right support and resources, MREs can play a significant role in Morocco’s economic growth.
Amor: Thank you for the opportunity. I am optimistic about the future and the potential of Moroccans around the world to contribute to our homeland.
Editor: We look forward to following these developments. Thanks for tuning in, everyone!