Moroccan expats remittances intended to investment rose by 3.8 pc at end of October 2015

Rabat - Remittances from Moroccans residing abroad intended for investment reached 52.5 billion dirhams as at October 2015, against 50.6 billion dirhams during the same period last year, an increase of 3.8 pc, said Tuesday the Minister in charge of Moroccans residing abroad and migration affairs, Anis Birou.

Several mechanisms were established to encourage Moroccans living abroad to invest in their country of origin, including support for investment projects and the use of new technologies to inform them of the procedures and incentives available, said Birou at the House of Representatives.

He added that his department is endeavoring to lower obstacles facing Moroccan expats who want to invest through the creation of one-stop-shop at all provinces and the establishment of a support fund which finances 10 pc of their investments projects.