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Morocco World
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CGEM Urges Morocco's Private Sector to Grant June 9 Holiday for Eid Al Adha
Rabat – Chakib Alj, the President of the General Confederation of Moroccan Enterprises (CGEM), has urged the private sector companies to grant employees a day off on Monday, June 9, aligning with the public sector, in celebration of Eid Al-Adha, which will take place on Saturday, June 7 in Morocco. Last week, the government decided to exceptionally suspend work in state administrations and local authorities on Monday, June 9. CGEM called on companies to follow suit, noting: 'We invite, as far as possible, private sector companies to also grant Monday, June 9, as a day off to their employees,' Alj said. Eid Al Adha falls on the tenth day of Dhu Al Hijjah, the 12th and final month of the Islamic lunar calendar. The Islamic month marks Eid Al Adha or the sacrifice feast, which commemorates the willingness of Prophet Ibrahim to sacrifice his son in obedience to Allah's command. Dhu Al Hijjah also marks the Hajj pilgrimage, which will commence on June 4. While the feast is a sacred and special time in Morocco, Moroccans will celebrate it differently this time. In February, Morocco announced its decision to cancel the Eid Al Adha sacrifice ritual due to drought and a notable decrease in the country's livestock population due to dry seasons that affected Morocco's agriculture sector for six years in a row. This is not the first time Morocco has canceled the Eid Al Adha sacrifice ritual. The first time dates back to 1963 when the late King Hassan II announced the cancellation of the sacrifice ritual during the Sand War between Morocco and Algeria, as it affected the two countries' economies. The second time was in 1981, and the cancellation was due to drought, as well as in 1996. Last week, ONCF announced that it has expanded the train schedule ahead of Eid Al Adha from May 30 to June 15 to help travelers move easily and safely during the holiday. The program includes up to 237 trains per day across the national network. ONCF also pledged to add extra trains on the main routes to help passengers during busy times. Tags: Eid Al Adhaeid al adha 2025
Morocco World
19-05-2025
- Business
- Morocco World
Morocco Plans to Export 3,000 Vehicles to Egypt Per Year
Rabat — Morocco aims to export 3,000 vehicles yearly to the Egyptian market, according to Egypt-Morocco Business Council President Nizar Abu Ismail. The initiative is part of a comprehensive plan to rebalance trade between the two countries, he said in an interview with Al Borsa News. Speaking of the current trade situation between the two countries, Abu Ismail pointed out that Egyptian investments in the North African country now exceed $700 million. Meanwhile, a potential major project led by an Egyptian businessman entails developing an integrated tourist city in one of Morocco's coastal regions, according to the council's president, adding that it could attract over $500 million in investments over the next three to four years. 'This tourism project is one of Egypt's largest in North Africa,' Abu Ismail explained, saying that it will contribute to the creation of significant job opportunities, as well as 'establish an attractive investment environment, opening new horizons for cooperation' between Morocco and Egypt. Looking ahead, he estimated that nearly 30 Egyptian companies have shown interest in investing in Morocco through building new factories in the country within the next three years. This expansion strategy aims to increase Egyptian investments across North Africa and leverage the advantages of the Moroccan market — particularly its geographic proximity to Europe and free trade agreements that enable easier access to Western and African markets. Speaking of the sectors, Abu Ismail said that companies that have shown interest so far operate across various sectors, including agri-food, manufacturing, food supplements, automotive parts, the fishing industry, and fishing vessels. These developments come following recent economic advancements between the two countries, bolstering bilateral trade ties through the creation of an Egyptian 'Fast Track' system designed to streamline access for Moroccan exports into the Egyptian market. Morocco and Egypt held earlier this month a significant Egypt-Morocco Investment and Trade Forum in Cairo, bringing together officials, economic players, and business leaders from both countries. The forum was held during a Moroccan economic delegation visit to Egypt, initiated by the General Confederation of Moroccan Enterprises (CGEM), aiming to boost Moroccan products' presence in the Egyptian market. Read also: Morocco and Egypt Boost Trade Relations with 'Fast Track' Agreement
Morocco World
15-05-2025
- Business
- Morocco World
New VSEs Support Program to Benefit 110,000 Small Businesses in Morocco
Doha – Morocco's government will soon launch a new program dedicated to supporting very small enterprises (VSEs). The announcement came Thursday in Casablanca from Younes Sekkouri, Minister of Economic Inclusion, Small Business, Employment and Skills. 'This new mechanism aims to support VSEs across multiple areas, such as rent, accounting, or the acquisition of professional equipment, with a target of 110,000 beneficiaries,' Sekkouri stated. The minister was speaking at the first edition of the MSMEs (Very Small and Medium Enterprises) Forum organized by the General Confederation of Moroccan Enterprises (CGEM). The event was themed 'Inspire to Transform.' The program will focus on financing operating expenses for VSEs, self-entrepreneurs, and entrepreneurs under the CPU regime. With a budget of MAD 1 billion ($100 million), the initiative will be implemented in the coming weeks. Sekkouri stressed the need to strengthen leadership mechanisms, mediation, and information flow for TPMEs. He noted that some small businesses still face inappropriate responses from banking institutions due to a lack of understanding of their specific characteristics. The minister advocated for a more efficient and responsive guarantee system. This system would quickly detect difficulties and provide committed solutions. On financing, Sekkouri acknowledged that despite state guarantee mechanisms, many young entrepreneurs still encounter obstacles to access. A joint commission with the Ministry of Economy and Finance has been established to engage in in-depth consultation with banks. Addressing administrative simplification, the minister flagged the urgency of reforming the commercial and administrative authorization system. He called it a brake on TPME development. Sekkouri pushed for a transition to a model based on specifications, describing it as 'more flexible and better adapted to economic reality.' This strategic project is already underway, coordinating with several work teams to unleash entrepreneurial potential, particularly among young people. Read also: Morocco Records 78,244 New Businesses in First 10 Months of 2024 The minister also revealed that a comprehensive overhaul of the National Agency for Employment and Skills Promotion (ANAPEC) programs is underway. This particularly targets young people without diplomas. Regarding the new Labor Code, Sekkouri affirmed it will be finalized by year-end following a pragmatic approach in consultation with various social partners. 'This new code will, for the first time, regulate remote work and part-time work, opening new professional opportunities,' he emphasized. The TPME Forum featured inspiring testimonials from business leaders and a panel of entrepreneurs from various sectors. They discussed real-world challenges: launch stages, daily obstacles, financing needs, team management, and digital transition. The event also included two masterclasses. One centered around financing problems faced by TPMEs and available market solutions. The other provided tools for small businesses to respond to artificial intelligence challenges and seize opportunities. Through this first edition of the MSMEs Forum, CGEM reaffirmed its commitment to making small businesses a central lever for wealth and job creation. MSMEs represent 95% of CGEM members across Morocco. Tags: MSMEsSmall businesses in moroccoYounes Sekkouri
Morocco World
05-05-2025
- Business
- Morocco World
Egypt-Morocco Investment Forum Kicks Off in Cairo to Boost Trade Relations
Rabat — Morocco and Egypt seem to be on track towards boosting their trade relations as the two countries held a significant Egypt-Morocco Investment and Trade Forum on Sunday in Cairo. The gathering brought together officials, economic players, and business leaders from Morocco and Egypt under the theme 'A Broad Economic Partnership.' The forum is part of the visit of a Moroccan economic delegation to Egypt from the 3rd to the 5th of this month, led by Morocco's Secretary of State for Foreign Trade, Omar Hejira. The General Confederation of Moroccan Enterprises (CGEM), in coordination with the State Secretariat for Foreign Trade, initiated the mission with the aim to strengthen the presence of Moroccan products in the Egyptian market. This includes both increasing avenues for exporters from both countries as well as creating investment opportunities. The delegation has set an ambitious target of reaching $500 million in Moroccan exports to Egypt by 2026. Meanwhile, the forum offers a chance to establish productive partnerships between the economies of both countries. Business leaders and Moroccan companies attended the event from various sectors, including agriculture, food and automotive industries, electricity, electronics, textiles, seafood products, energy and renewable energies, pharmaceuticals, medical and paramedical products, cosmetics, and construction. Both Hejira and the Egyptian Minister of Investment and Trade Hassan El Khatib co-chaired the forum, reflecting a shared commitment to explore significant potential for cooperation and complementarity between the two countries. The economic meeting sets the tone for a further deeper cooperation, not only between Morocco and Egypt, but potentially to develop partnerships with other African countries. This Moroccan economic mission to Cairo follows El Khatib's visit to Morocco on February 27, when he met with Moroccan officials. During El Khatib's visit, high-level officials met to agree on joining efforts to facilitate trade between Morocco and Egypt, one of them being the creation of the Egyptian 'Fast Track' system. The newfound system aims to increase the volume of Moroccan exports to Egypt — particularly in the automotive sector — and promote trade partnerships and business networks between private sector players from both countries.
Morocco World
28-04-2025
- Business
- Morocco World
Minister Mezzour: China-Morocco Partnership is ‘Tangible' in Industry, Trade, Logistics
Doha – This morning, Morocco's Minister of Industry and Trade opened the 11th edition of the entrepreneurs conference at the China-Arab States Cooperation Forum with a virtual message to the attendees in Haikou, the capital of China's southern Hainan province. Morocco is being featured this year as a guest of honor at the forum, which the minister said reflects its position as a strategic partner to China. 'This distinction embodies the Kingdom's status as a strategic partner to China,' Mezzour said, recalling King Mohammed VI's historic visit to Beijing in 2016 that revitalized bilateral relations through a strategic partnership declaration. Mezzour recalled Morocco's early participation in the Belt and Road Initiative among Arab nations. 'The Sino-Moroccan partnership is now tangible in industrial, energy, and logistics sectors,' he stated. The minister referenced substantial infrastructural achievements during King Mohammed VI's 25-year reign, including the high-speed train connecting Casablanca and Tangier, and the Tangier Med port complex. Morocco's strategic geographic position offers access to 2.4 billion consumers across Africa, Europe, and the Middle East, attracting international investors through economic openness and reforms in legal and financial sectors. 'We've established special economic zones like Casablanca Finance City and provide state support for promising national economic projects,' Mezzour noted. He proposed creating a China-Arab digital platform to facilitate entrepreneur interactions and connect investors with project developers. Mezzour also advocated for training programs focused on artificial intelligence and green economy to equip young talent with skills demanded by the global market. The minister called for support mechanisms for small and medium enterprises, describing them as 'the backbone of Arab economies,' through dedicated investment funds and technical assistance for international expansion. The Moroccan delegation at the forum, led by Ambassador Abdelkader El Ansari, includes representatives from the General Confederation of Moroccan Enterprises (CGEM), the Moroccan National Tourism Office (ONMT), Bank of Africa, and Attijariwafa Bank. Other speakers, including Liu Xiaoming, Governor of Hainan Province, Ren Hongbin, President of the China Council for the Promotion of International Trade (CCPIT), and Khaled Mohamad Hanafy, Secretary General of the Union of Arab Chambers, noted that trade between China and Arab countries has grown from $36.7 billion in 2004 to over $400 billion in 2020. The two-day conference, held alongside the 9th investment seminar at the China-Arab States Cooperation Forum, hosts over 1,000 participants, including local economic operators and Moroccan entrepreneurs based in China. Morocco's exhibition stand, the only national display at the event, is showcasing investment opportunities and tourism attractions, drawing significant visitor interest. The conference features four thematic sessions on energy transition, scientific and technological innovation, cultural and tourism synergies, and financial cooperation development. A special session on investment opportunities in Hainan's free port is also scheduled. Established in 2005, the entrepreneurs conference at the China-Arab States Cooperation Forum has evolved into a crucial platform for advancing economic and commercial relations between China and Arab nations. Following the conference, business visits will take place to various economic zones in Hainan Province, including the Wenchang Space Launch Center and the Yangpu Economic Development Zone. Read also: Morocco Signs Investment Deal with Chinese Textile Giant Sunrise Group Tags: Morocco China RelationsRyad Mezzour
