The figure of women and low taxation, keys for investment in Morocco

From the headquarters of the Tangier Tetuán Alhucemas Regional Council of Accounting Experts, Atalayar has been able to interview exclusively Nafeh Agourram, president of the Council of Accounting Experts and Loubna Ourtassi, vice president.

From Accounting Experts who are dedicated to doing audits, labor and tax advice, as in all developed cities, they play a decisive role in ensuring that entrepreneurs and freelancers and anyone who wants to do a good business is properly advised.

What is the current situation here, in Tangier, Al Hoceima, so that a Spaniard, an entrepreneur, can come and invest in a good business?

It is an honor to receive you at our headquarters, as well as any businessman who wishes to come, you will be welcome to Tangier to do business. In Morocco we have many measures that favor investment. Among them we can accompany entrepreneurs to make investments in Morocco, especially in Tangier. We can help you in setting up the Business plan for the investment. In addition, we give support and support on tax advice in labor matters and we do everything necessary so that the investor can recapitalize his investment.

Mrs. Ourtassi, what recommendations would you give to a Spanish businessman to come? In which sectors? What could be more interesting when, as an expert accounting manager, advising a Spanish investor?

The region of Tangier, Al Hoceima, Tetouan is a region that is developing, that is growing with many investment opportunities. Morocco globally gives a lot of support to people who come to invest in Morocco.

One of the most important sectors is the industrial sector, because in Morocco we have a highly qualified workforce that can compete thanks to its competitiveness that in turn has a low cost, which is very interesting for the industrial sector. A sector with great potential and that also has many incentives and government aid, which means job creation, because it is one of the most important sectors and for the Administration. At the same time, the Government invests in the renewable energy sector, since it is one of the sectors that Morocco has as a point of interest and orientation for the future.

One of the issues, Mr Agourram, that an investor is looking for is, of course, facilities to invest a return, but also legal security. The new Investment Charter in Morocco fulfills all these conditions, provides facilities and offers all kinds of guarantees of legal security.

In Morocco we have a legal security system for the patriar the profits of Morocco to repatriate also the sale price of your investments. The Investment Charter that the Moroccan government has published this year gives many facilities for investors. We can reach up to 30% of an investment amount in government aid. Among the conditions of the Administration to facilitate economic aid are the hiring of women, investment in the industrial sector, job creation and the development of renewable energies.

Mrs. Ourtassi, about women in Morocco. As vice-president, and in many sectors of Moroccan society, the role of women is a determining one. Do you think that women already have the same options as men, or is it still necessary to travel that path, as it happens in Spain, for example?

Women in Morocco have many responsibilities, but they have also been able to prove that they have the courage to reconcile their family life and their professional life. We see many women who occupy very interesting, very important positions in Morocco.

In Morocco, competition plays a big role for women. It is a challenge and there is a challenge, because women in Morocco still have responsibilities at home, that is, there is always an important part of the work that they carry inside their house. At the same time, she has the same responsibilities when she is in her professional life, but we see a lot of progress, many women, who have been able to get ahead in their professional life.

And who gets more advice, the woman or the man when it comes to starting a business, whether it's a foreigner or a Moroccan?

Agourram: It makes no difference to me that she is a woman. The one who allows himself to be advised is always the most intelligent.

Ourtassi: We are in a business where it is the interest of the client that counts, that is, when the person who invests sees his interest in an advisor, it is the most important thing he can find since it is what he is looking for in terms of the quality of the advice he wants to receive and that this is also the one that makes the difference when it comes to knowing where and what to invest in.

Mr Agourram, when a Spaniard picks up, he buys a ticket in Madrid, Barcelona, Valencia or Seville and comes to Tangier. What is the first thing that you would advise him to do that he lived the management office to get advice or come here to look for himself life to adventure is a risk, like anywhere in the world?

The adventure is interesting, but if you are advised or advised correctly, it is much better. For a foreigner who comes to Morocco, a Spaniard who comes to Morocco, the first thing you should do is contact an accounting expert so that he can advise you on what you want to do. That will be the best help you can get from a professional in Morocco.

Would you highlight any sector in particular that may be of greater interest? What is the biggest challenge for you now?

Agourram: Surely the Moroccan industry has a lot of future. We have some very interesting ecosystems in Morocco, such as the automobile, for example. The Government has a target to reach up to 80% local economic integration rate. So far we are around 60%, so we still have a lot of business to do. An investor who wants to do business Morocco can set up sell and make things for the automotive sector.

There is a second very interesting sector that is textiles. In Morocco we have a specialized ecosystem for textiles. We have an international dimension such as Inditex, for example. We don't just have manpower, we also have design, we have people who, to make interesting things. In addition to the manpower, we have the brain to increase in development.

Ourtassi: In Morocco we have engineers with a very good intellectual level, who are polyglot, which makes it much easier for them to communicate. This allows Engineering Centers to be installed that allow them to work with engineers from all over the world and with international companies.

Morocco, also Tangier, Tetouan, Al Hoceima, offers security, political stability, security on the streets and being able to repatriate benefits, Is that stability, that security, are key elements when recommending an investment here in Tangier, in Morocco?

Agourram: Surely one of the most important things in our system is legal security, it is security on the street, stability. In Morocco we can invest quietly, we can concentrate on the most important thing, which is to produce and increase wealth.

Ourtassi: The most important thing is to have a good advice, because that legal security goes in parallel with respect to the law, that is, you have to do things right from the beginning to be able to benefit from the guarantees of Moroccan law, that is, pay taxes correctly, respect the law, the rules and for that it is important that the investor has a good advisor that allows him to do things correctly from the first. And that's our job, to guide, to give good advice from the beginning.

You hope that an event such as football, the organization of the World Cup will allow, provoke, promote the joint work of many Spanish, Moroccan and Portuguese companies towards that organization. Football is a sociological phenomenon that creates a lot of economic activity, employment and also creates national identity and above all unites people, right?

The World Cup will surely be a global event with a huge impact on the regional economy of the 3 countries. In Tangier we must prepare for this event, we must build infrastructures, hotels, tourist residences, fields. There are many things to do, there is a lot of business to start, there is a lot of wealth to build. In this sense, Spaniards will be all welcome to Tangier.

And the lionesses of the Atlas will also have their chance

Football brings joy, we have experienced it the last World Cup. It is an event that is important for Moroccans and that gives them life, joy. Tangier will be the door of this event because it is the city that has a direct connection with Spain and Portugal, so it has to be prepared because we expect a lot of circulation, many Spaniards and Portuguese, as well as football fans who will come from all over the world. This is going to be positive for Morocco and for its image at a global level. And for sure, with the infrastructure we currently have, such as the TGD and with what is coming, the event will be more than covered.

A great success the TGD (high speed train) linking Morocco. You can go from Tangier to Rabat and Casablanca in a couple of hours and then to Marrakech.

So far it only reaches Casablanca, but in the near future, before 2030, it will also link the city of Marrakech.