Morocco:CGEM President argues for a new pact for growth and competitiveness
The Moroccan employers association is engaging with government and called for a new deal for the growth and competitiveness with concrete and candid responses to the questions and problems posed to businesses, the President of the General Confederation of Enterprises of Morocco (CGEM), Ms. Miriem Bensalah Chaqroun said on Wednesday.
Source : https://www.marocafrik.com/english/Morocco-CGEM-Pr...
Speaking at a meeting with the Head of Government Abdelilah Benkirane on "the business climate in Morocco," the president of the employers' organisation estimated that the new situation of economic crisis, which hit international partners the Kingdom and impact the national economy requires "a change of method because the world has changed."
"The consolidation of our economy and the recovery of our production, implies a new vision and new management tools," said Ms. Bensalah noting that "trust, which is the basis of any act of investment , requires the moralisation of the economy, greater transparency and solidarity, good governance and especially fluidity. "
Referring to the question of financing the national economy, Ms. Bensalah Chaqroun stressed that Morocco is among the emerging countries where the share of funding from the financial market is smaller and represents about 2.5 percent of the investments made, noting that "the evolution of the Casablanca Stock Exchange shows the degree of fragility of the financial mechanism of the national economy."
In terms of tax reform, the President of the CGEM said that measures for the simplification, rationalization and modernization of the tax system should be pursued in a "more pronounced" way. "We need to improve tax efficiency through the implementation of an integrated system of taxation, improving taxpayer services and adjustments to corporate tax," she insisted.
In general, she said, the main issues to be addressed in partnership with the government are how to achieve a more appropriate taxation, prompt justice which is fair and efficient, a revival of investment, and shared responsibility with social actors, respect for the rights of employers and employees and equal opportunities in the undertaking.
In addition, Ms. Bensalah announced in a press statement after the meeting, the establishment of a framework of committees and bodies in different themes, chaired by the head of government and CGEM , to hold regular meetings every three months.
"We all want to be effective and have pronouncements and decisions which are sustainable. The situation is difficult but not insurmountable," she noted, adding that "this is why we took appointments to take action in the short, medium and long term."
"The consolidation of our economy and the recovery of our production, implies a new vision and new management tools," said Ms. Bensalah noting that "trust, which is the basis of any act of investment , requires the moralisation of the economy, greater transparency and solidarity, good governance and especially fluidity. "
Referring to the question of financing the national economy, Ms. Bensalah Chaqroun stressed that Morocco is among the emerging countries where the share of funding from the financial market is smaller and represents about 2.5 percent of the investments made, noting that "the evolution of the Casablanca Stock Exchange shows the degree of fragility of the financial mechanism of the national economy."
In terms of tax reform, the President of the CGEM said that measures for the simplification, rationalization and modernization of the tax system should be pursued in a "more pronounced" way. "We need to improve tax efficiency through the implementation of an integrated system of taxation, improving taxpayer services and adjustments to corporate tax," she insisted.
In general, she said, the main issues to be addressed in partnership with the government are how to achieve a more appropriate taxation, prompt justice which is fair and efficient, a revival of investment, and shared responsibility with social actors, respect for the rights of employers and employees and equal opportunities in the undertaking.
In addition, Ms. Bensalah announced in a press statement after the meeting, the establishment of a framework of committees and bodies in different themes, chaired by the head of government and CGEM , to hold regular meetings every three months.
"We all want to be effective and have pronouncements and decisions which are sustainable. The situation is difficult but not insurmountable," she noted, adding that "this is why we took appointments to take action in the short, medium and long term."
Source : https://www.marocafrik.com/english/Morocco-CGEM-Pr...