[Mister79]

Has Morocco economic policy/vision failed?

I am asking this question, because billions have been invested into infrastructure in the last 14 years, tourism, Plan verte, Tanger Med etc and not many jobs, growth etc has been created and Morocco is now asking the IMF for loans and gets aid from the Gulf etc..
A couple years ago when you read the media you thought Tanger Med would give the economy a major boost and triple FDI. None of this has happend..The biggest investment was Renault after that not much happend..
The economy is still depending on agriculture..
They are launching big projects without doing what is real needed like reforming the economy..

 

[belgiumguy]

everyone knows you have to invest in people but that is difficult it's much easier to build roads,ports,... We can say that we atleast have that partially but now it's time to spend on the people!!! urgently

 

[The Tangiers]

Mister !

i understand what you are saying.

yes , the economic-booming is very very slowly but dont forget we are dealing whit an African country thats called morocco.

and even a criticaster like me , see light at the end of the tunnel.
take in note when we finish project Noor for the fully 100%,
and the morocco vert-plan. (between 2018-2020)
plus the gulf money , EU-advanced status , and the FTA that is awakening
slowly but sure !

How was the look of Nador , Tetouan , Oujda and a lot of other city s 15 year ago . and look now !

give it 4 more years and you gone see !

 

[ShinobiNYC]

If you don't really invest and revolutionize education then not much will ever change.

Everything starts with a good educative system, everything else will come on its own.

 

[Mister79]

I agree with you guys, education is very important and that hasn't got much attention in the past years.

 

[doukali]

Has Morocco economic policy/vision failed?

I am asking this question, because billions have been invested into infrastructure in the last 14 years, tourism, Plan verte, Tanger Med etc and not many jobs, growth etc has been created and Morocco is now asking the IMF for loans and gets aid from the Gulf etc..
A couple years ago when you read the media you thought Tanger Med would give the economy a major boost and triple FDI. None of this has happend..The biggest investment was Renault after that not much happend..
The economy is still depending on agriculture..
They are launching big projects without doing what is real needed like reforming the economy..

Economic reforms is a double-edge sword, if it is properly managed then it will be wonderful for the Moroccan economy, but sadly, that will not be the case in Morocco and you will end up with IMF and World Bank "advising" Morocco to privatise everything to be sold off to foreign banks for peanuts!

I would rather concentrate on Education and Job Creation schemes.

What i can see is that we have a chaotic growth in Morocco. We see the construction business is booming and the also the banking sector through consumer credits/loans which of course will stimulate the local economy and you can already see that! more and more people have cars and other consumer products that were too expensive 20 years ago.

Another important aspect of the Moroccan economy that need to be improved is the agriculture. The Moroccan countryside is still lagging behind in terms of education, health and access to the basics amenities.

Summary:
Education
Job Creation
Political Reforms
...
...
...
Economic Reforms

 

[flyzone]

the question suppose that we do have an economic vision :troll:

 

[Mister79]

Economic reforms is a double-edge sword, if it is properly managed then it will be wonderful for the Moroccan economy, but sadly, that will not be the case in Morocco and you will end up with IMF and World Bank "advising" Morocco to privatise everything to be sold off to foreign banks for peanuts!

I would rather concentrate on Education and Job Creation schemes.

What i can see is that we have a chaotic growth in Morocco. We see the construction business is booming and the also the banking sector through consumer credits/loans which of course will stimulate the local economy and you can already see that! more and more people have cars and other consumer products that were too expensive 20 years ago.

Another important aspect of the Moroccan economy that need to be improved is the agriculture. The Moroccan countryside is still lagging behind in terms of education, health and access to the basics amenities.

Summary:
Education
Job Creation
Political Reforms
...
...
...
Economic Reforms

I agree with you about education, health care and agriculture, but Morocco needs reforms to boost the private sector.

Now most of the projects are build by the big Moroccan companies like ONA, Addoha, Ynna, CDG etc.
Small and medium companies should be involved to build tourist, construction etc so that they can grow..
That is how Turkey did it..

Tunisia had good educated people, but still huge unemployment, because of the lack of reforms.

 

[belgiumguy]

I think we should rather discuss on how to improve our educational system.

 

[doukali]

I think we should rather discuss on how to improve our educational system.

Agreed!


I think we have one or two threads discussing just that!

 

[Mister79]

Doukali, reforms are crucial. Morocco needs to stimulate small and medium companies they are the engine of growth and development..
Now many of this small companies are excluded from many projects and don't get acces to credit..

Egypt has the same problems:

As for the big private companies which grew in the last decade or so, they have disappointed in terms of job creation.

Many of these firms, says Ms Vishwanath, are “politically-connected” establishments managed or owned by influential businessmen in high political posts in the government or the National Democratic Party which ruled before 2011. They have been able to leverage their clout to secure cheaper access to important inputs like credit, capital, land or energy.

“Politically-connected firms are particularly-likely to work in energy-intensive industries and to take advantage of energy subsidies,” she says. “Because the costs of these inputs is much lower for politically-connected firms, they tend to engage in less labour-intensive industries. As an example, among large firms, politically-connected firms account for only 11 per cent of employment, but they receive 92 per cent of loans made to large firms.”

The World Bank argues that Egypt lacks the young, fast growing firms it calls “gazelles” and which it identifies as the engine of job creation in other economies.

Only 10 per cent of Egyptian firms are fast-growing “gazelles” compared to 15 per cent in Morocco and Tunisia, according to the World Bank.

The answer to Egypt’s labour woes, says Ms Vishwanath, lies in improving conditions for the private sector. “The government should start by instituting reforms aimed at creating a level playing field, in which new firms can compete with existing firms on merit rather than connections,” she says.

“In addition, the government can ease the stringent laws on bankruptcy, liquidation and restructuring procedures, which makes it less risky for entrepreneurs to open new firms and take risks.”

http://blogs.ft.com/beyond-brics/2014/07/29/egypt-world-bank-sees-widening-of-shadow-economy/

 

[doukali]

Doukali, reforms are crucial. Morocco needs to stimulate small and medium companies they are the engine of growth and development..
Now many of this small companies are excluded from many projects and don't get acces to credit..

Egypt has the same problems:

I agree that we need economic reforms BUT what i am saying that if we prioritise any reforms then we should start with education and public administration.

As for your point about the big companies dominating the construction business, then I do not agree. Morocco is a country of SMEs (Small Medium Enterprise) and if you look at any African list of companies then you will observe Morocco does not have big companies in the top 10 but what we have a big number of SMEs...almost all of the construction sites where flats/villas are being built are built by SMEs that are not related to ADDOHA, YENNA,...and anyway, you do not expect the Moroccan government to award huge projects like social housing to SMEs but I would expect the likes of Addoha and Yenna to sub-contract some of the work to SMEs.

I believe that in the construction sector, Morocco is doing well but in the import and export sector, that is where we need more transparency and we need lower tariffs to lower prices and stimulate internal consumption.

 

[Mister79]

Doukali, big companies in Morocco get many benefits and easy acces to credit then small medium companies. Many Moroccan businessmen are complaining about it for years..

Doukali, the big companies in Morocco dominate the economy and are doing most of the projects.
A big company like CDG is building many projects like Marchica Med, Casa Marina, Casa Offshore, Anfa Urban, Quemado Resort, Sounai Resort, Urba Pole Oujda, owns part of Renault factory, MEDZ etc

Saidia is build by Addoha and it has become a failure. They should have better let small companies develop this resorts, one builds hotels, other villa's etc. That is how Turkey developed its coast, offering small companies land for free, but they are obligated to build their hotels etc
Marchica Med is build by CDG and things are not going as planned..I am afraid that CDG will never build the whole project. It was better if local and national companies got all a pieace of land at Marchica Med and let them develop it..
Tetouan is a good example. The coast isn't developed by one company, but by many companies. That is why Tetouan is doing better..


If education is the solution, why are most tertiary graduates in Morocco unemployed?

 

[Thomas_G]

Pour qu'un pays se développe, il existe une recette. Cette recette est absolument infaillible et à réussi partout ou elle a été appliquée. C'est la méthode Lee Kwan Yew. Quand il est arrivé au pouvoir, Singapour était un coin corrompu, sale, pauvre. Il a transformé le pays en hyper-puissance économique en moins d'une seule génération. Sa vision est composée de 10 choses a faire.

1) Une population alphabétisée a 100%.
2) Des infrastructures (Autoroutes, Ports, Aéroport) construites et entretenues.
3) Une agence anti-corruption indépendante capable de lancer des poursuites et envoyant des "clients mysteres" dans les administrations.
4) Facilité de créer un business.
5) Facilité de faire faillite.
6) Stabilité politique
7) Lois sur la gouvernance boursière forcant les entreprises en bourse a la transparence totale
8) Système foncier efficace
9) Un système judiciaire publiant TOUTES ses décisions sur internet.
10) Une fiscalité pas ultra-eleve. Transparence totale du gouvernement.

Voyons voir ce que le Maroc fait ou a fait :

-Infrastructures
-Facilité de créer un business
-Stabilité politique

Ce que le Maroc ne fait pas :

3) Aucune volonté politique de lutter contre la corruption. Agence anti-corruption pathétique et dotée d'aucun pouvoir
5) Difficulté de faire faillite
7) Lois sur la gouvernance boursiere qui n'incitent pas a faire confiance
8) Difficulté de faire des transferts de propriété
9) Publier ses décisions ca ne se fait pas au Maroc
10) Fiscalité élevée. Faible transparence, 80% des marocains ne savent pas qui sont leurs élus locaux et la premiere ville du pays n'est plus dirigée (152 personnes...wow...)
_________

Lee Kwan Yew a transformé Singapour en suivant ces 10 choses a la lettre comme il l'explique dans son livre. .
Le Maroc ne suit que 3 des 10 méthodes de Lee Kwan Yew.

Je veux pas investir dans un pays ou un ministre en personne déclare que la lutte contre la corruption n'est pas une priorité et que l'agence anti-corruption ne devrait pas disposer de pouvoir.

Je veux pas créer une boite dans un pays ou la jurisprudence n'est pas publiée.

Je veux pas investir dans un pays ou les transferts de propriété sont difficiles. Je veux pas investir dans un pays ou je paie 49% d'impots et ou je dois me taper la corruption. Je veux pas investir dans un pays ou 54% des femmes ne savent ni lire ni écrire.

Je veux pas investir dans des grandes villes peu transparentes, incapable de structurer les transports en commun, et dirigées par 150 personnes analphabetes car on a réfusé une loi forcant les partis a présenter des diplomés qualifiés.

Tant que le Maroc ne suit que 3 des 10 méthodes, il reussira beaucoup beaucoup beaucoup plus difficilement, quoi qu'il fasse. Si demain, le Maroc fait le choix d'appliquer les 10 méthodes, je peux vous assurer qu'il décollera économiquement.

 

[adamelstar]

Tous les économistes (Lire Thomas Piketty, Elie Cohen, Tirole etc), disent qu'il n'y a aucune méthode infaillible, pour décoller économiquement, rien n'est transposable, le frémissement peut arriver, comme il ne peut jamais arriver.

On sait juste, les conditions qu'il faut pour se donner une chance de décoller, et ce qui peut empecher le décollage, mais comment décoller ça n'existe pas, sinon ça serait trop facile, meme les pays dévellopés, perdent parfois leur statut de dévellopé.

Raison pour laquelle, je ne crois absolument pas, en "il faut faire comme Singapour, on sera la Corée du Sud etc, la Turquie" , il n'y a pas de méthode infaillible.

Personne n'a prédit la crise de 2007/2008, ni celle des années 30, la surpuissance économique du Qatar n'était pas prévu, ni la crise en Europe, on peux aller comme ça jusque l'infini... si il y avait un modele x infaillible, tout le monde l'appliquerait.

 

[adamelstar]

Has Morocco economic policy/vision failed?

I am asking this question, because billions have been invested into infrastructure in the last 14 years, tourism, Plan verte, Tanger Med etc and not many jobs, growth etc has been created and Morocco is now asking the IMF for loans and gets aid from the Gulf etc..
A couple years ago when you read the media you thought Tanger Med would give the economy a major boost and triple FDI. None of this has happend..The biggest investment was Renault after that not much happend..
The economy is still depending on agriculture..
They are launching big projects without doing what is real needed like reforming the economy..

You are just too impatient Mister, derja b derja, Morrocco is actually booming thanks to Tangier med eco-system.

And we have also, Phosphates, agriculture, tourism, ...

Plateforme industrielle Tanger Med : bond de 40% des activités à l’export en 2014

http://www.usinenouvelle.com/article/plateforme-industrielle-tanger-med-bond-de-40-des-activites-a-l-export-en-2014.N326612

La plateforme Tanger Med a réalisé 3,7 milliards d’euros d’exportations industrielles en 2014

Ce chiffre est, par rapport à l’année 2013, en progression de 40%. Cette progression est due principalement, d’une part, à la montée en puissance de Renault Tanger (en particulier sur les exportations de véhicules), et, d’autre part, aux performances des équipementiers vers les autres constructeurs automobiles en Europe.

http://www.maghrebemergent.com/economie/maroc/47361-la-plateforme-tanger-med-a-realise-3-7-milliards-d-euros-d-exportations-industrielles-en-2014.html

 

[dcasataza]

I am not even sure if there is a real concrete vision !
Well this thread ..is something

 

[adamelstar]

Je pense que la vision économique du Maroc est la bonne, le Maroc est pays à économie de marché, intégré à la mondialisation, ce n'est pas la vision le probleme, c'est qu'on se donne pas les moyens d'appliquer cette vision correctement.

Les problemes sont d'ordres structurel, juridiques etc nos lois, notre maniere de faire n'est pas la bonne... la vision, les idées sont la, mais le cadre n'y ait pas, le foncier est indisponible et cher, les ressources humaines peu qualifiées, l'environnement des affaires est mauvais , le Maroc n'est pas le pays ideal pour faire du business, il y a beaucoup d'investisseurs qui choisissent d'autres endroits à cause de cela. (Amerique du Sud, Asie , Turquie etc)

 

[dcasataza]

Indeed adam. It's a little bit confusing to detangle this relationship vision vs goals and achievements.
the rythme by which moroccan system is progressing is scary, because if you take in instance what's going on with all our opponents you would definitely think that morocco should take advantage of all these events, and they are many: oil prices, security in the refgion, support of the major powers and the gulf, leadership in west africa, instability in most of the presumably opponents of moroccan economy...i have no idea how we are not using all of these events into our advantage. (No offense to the opponents of course)

 

[Xoussef]

I'd use the word competitors, not opponents.

For one thing, other's problems are NOT our advantage. We are firmly and hopelessly assimilated into the middle east, nevermind how we are moored to western Europe and West Africa economically and with a rather peculiar political structure. When a tourist sees trouble in Tunisia and Egypt, when an investor sees trouble everywhere in MENA region, they turn and see risk in Morocco. Not a good position.

But more importantly, we don't have the resources ready to take advantage. The work that has been done in the first decade of this century on basic infrastructure should actually have been done a decade earlier, and the work on education and human development on the 80's.

In short, we are at least 10 to 15 years behind on every sector, and in a volatile regional situation. I'd be really happy for our neighbours to get over their problems and start rebuilding. Their losses are our losses too.