Mohammed VI inaugura el año legislativo con medidas para reactivar el empleo

On the occasion of the opening of the fifth legislative year (of the tenth legislature), the King of Morocco, Mohammed VI, gave a speech in Parliament to announce the measures he will take this year to fight the coronavirus and reactivate employment.

Taking into account the preventive measures due to the coronavirus pandemic, Mohammed VI gave the speech from the Royal Palace in Rabat and it was broadcast live in Parliament. Moroccan citizens were also able to follow the speech on television and radio. 

Before starting the speech, the Alaouite King recalled the security measures taken to alleviate the pandemic. Only yesterday they announced that they would extend the state of emergency until 10 November after registering 2,521 new infections at the beginning of the week.

Mohammed VI confirmed that the coronavirus crisis is having serious health and economic repercussions, particularly for the export and tourism sector. He also announced that the government will launch a recovery plan to revive the economy. 

The economic recovery plan will be based on the Strategic Investment Fund (also known as the 'Mohammed VI' Investment Fund) and is at the top of the government's priorities "aiming to support the productive sectors, in particular the fabric of small and medium enterprises," said Mohammed VI.

"We have allocated 15 billion dirhams from the state budget to support the Mohammed VI Investment Fund and to boost economic development and raise citizens' living standards," the Alaouite monarch explained. He also stressed the need to cooperate with the economic partners they have, stressing that "efforts must continue to revitalise the economy".

In this context, the Sovereign expressed the hope that the 'Mohammed VI' Investment Fund "would play a leading role in promoting investment and recovering the capacities of the national economy", pointing out that this structure would intervene to provide the productive sectors with the necessary support and to finance and accompany the large projects planned, especially in the framework of public-private partnerships.

During the speech, the King of Morocco stressed the importance that should be given to agriculture and rural development in the dynamics of economic recovery. In particular, he pointed out that 'the current context requires us to support the resilience of this key sector and accelerate the implementation of all the agricultural projects that have been left pending'.

In addition to boosting investment and employment, "the measures to be taken will contribute to boosting national agricultural production and facilitate the process of professional integration in rural areas," said the sovereign. 

King Mohammed VI noted that one of the essential levers of this strategy is the operation to mobilise one million hectares of collective agricultural land.  The investment volume of this project is expected to reach around 38 billion dirhams in the medium term.

This investment effort will generate added value equivalent to the equivalent of two additional points of GDP, the monarch said, adding that it will also promote significant job creation in the coming years.

"This requires strengthening coordination and collaboration between the sectors concerned and creating an incentive environment for young people in rural areas, through the creation of enterprises and support for training, especially in trades and services related to agriculture," said Mohammed VI.

Concluding his speech, the Alaouite monarch reminded the population that it was a "time to be united" in the face of the pandemic crisis. And he did not want to miss the opportunity to offer the support of the state and its administration to all Moroccan citizens.