The role of the private sector in Economic Recovery

The role of the private sector in the revival of the Moroccan Economy was at the center of a debate-conference, organized on Thursday under the theme ‘’ the private sector development in Morocco: Challenges and perspectives in the context of the Covid-19 Pandemic ‘’.

Such important event was held by videoconference; the latter is a reliable means of communication and can make it quite easy for the organizers and participants of this event to properly assess the topic’s main features and components. This meeting has different aims, among of which is presenting the first tripartite report entitled ‘’ the private sector development in Morocco :Challenges and opportunities in times of Covid 19 pandemic ‘’ , taking into consideration an effective collaboration between the African Development Bank  (AfDB) , the European Investment Bank ( EIB), and the European Bank for Reconstruction and Development (EBRD).

On this occasion, Achraf Tarsim, the country manager of the AfDB office in Morocco, noted that the report ‘’ points the way for reflection when it comes to the role of the Moroccan private sector in the dynamics of growth, resilience, and therefore economic recovery’’.

In addition, the head of the EIB representation in Morocco, Anna Barone, said that Morocco’s private sector has potential as an engine of growth in the economy’’. For instance, Ms. Barone said that the private sector development requires investment and that it is necessary to facilitate access to finance for smaller enterprises, particularly those run by young people and women and those in rural areas.

Accordingly, developing small businesses could accelerate the process of inclusion, which is not only financial but also social, for the entire population of Morocco.

Antoine Sallé de Chou, the director of the EBRD in Morocco, stressed that this is the perfect time to complete the transition from a model that has been until now driven by public investment to one that gives more chance to private investment. Accordingly, accelerating the transformation of Morocco’s economy towards a sustainable and inclusive model requires increased mobilization of private investment.

Indeed, the focus should be widely stressed on the importance of the private sector in nowadays society to make progress in the economic aspect of the country.

By Nouhaila El bouhli

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