Minister of Economy, Finance and Administration Reform Mohamed Benchaaboun, requested, Tuesday, the support of the European Union (EU) to participate significantly in the Mohammed VI Fund for Investment.
The request was made at a meeting with the European Commissioner for Neighborhood and Enlargement, Oliver Varhelyi.
This support could constitute a relay for promoting the presence of European investors in Morocco and reinforcing the diversification of supply sources within the framework of an intelligent overhaul of global value chains, said Benchaaboun, as quoted in a press release by the Ministry of Economy, Finance and Administration Reform.
Focusing on Morocco’s post-Covid-19 recovery plan and its implementation, the minister highlighted the role of the “Mohammed VI Fund for Investment” which will -in partnership with the private sector- finance financing and accompany investment through thematic funds, particularly in the areas of industrial restructuring, innovation and promising growth activities, as well as SMEs, infrastructure, agriculture and tourism.
For his part, Varhelyi noted that the implementation of the “Development Plan for the South” is an opportunity to further enhance the exemplary relations between Morocco and the European Union.
He also expressed the EU’s will to continue supporting Morocco. The implementation of the “Development Plan for the South” within the framework of the ENP review is an opportunity to further enhance the exemplary relations between the two partners, the EU official added.
Talks between Benchaaboun and Varhelyi also focused on the positive results of the Morocco-EU cooperation, particularly in addressing the effects of the current health crisis.
This meeting, which is part of the continuing bilateral discussions on Morocco’s priorities in relation to the European initiative for a “Development Plan for the South”, was also an occasion to discuss the development prospects of these relations to build the “Euro-Moroccan Partnership for Shared Prosperity.”
In terms of financial cooperation, both parties welcomed the exemplary quality of this cooperation which has contributed to the implementation of several major reforms in Morocco.
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