Morocco's Commitment to Modernizing Trade and Employment
In a significant move towards enhancing its trade sector, Morocco has recently signed two pivotal agreements during the National Trade Forum held in Marrakech. These agreements are strategically designed to boost competitiveness, facilitate the digitalization of the economy, and generate new employment opportunities within the country. The first memorandum of understanding involves key players like Minister of Industry and Trade Ryad Mezzour and the Director General of the National Agency for the Promotion of Employment and Skills (ANAPEC), Abdellah Ahouich, alongside Hicham Kettani, CEO of One Retail. This collaboration aims to create a robust operational framework to foster sector development, promote job creation, enhance skill training that aligns with labor market demands, and mobilize various employment support mechanisms.
The second agreement concentrates on advancing the digital transformation of local commerce. Signed by Minister Mezzour along with notable figures such as Al Amine Nejjar, chairman of Al Barid Bank, and Mohamed Adil Chraibi, CEO of Barid Cash, this partnership is set to expedite the integration of small merchants into Morocco’s digital and financial ecosystem. The initiative is particularly ambitious, targeting the adoption of electronic payment systems and digital management tools by nearly 100,000 local traders, thereby expanding their access to tailored financial services.
During the forum, Minister Mezzour highlighted the strategic importance of the trade sector, noting that it receives significant attention from the royal leadership. He emphasized the crucial role of small traders as indispensable contributors to both social and economic levels. Furthermore, he provided insights into the infrastructure development efforts underway, mentioning that Morocco currently boasts 1,200 markets, with an additional 289 markets in the pipeline. This development is part of a broader strategy aimed at promoting modern markets across rural and urban areas, delivering what he termed as 'one-speed Morocco.'
Driving Digital Transformation and Economic Growth
In his address, Mezzour also unveiled plans for an incubator dedicated to fostering Moroccan digital solutions tailored specifically for local merchants. He pointed out a significant reduction in electronic payment processing costs, which have decreased from 1.7% to 0.8% due to collaborative efforts with banking and fintech partners. This initiative is bolstered by a state-backed program aimed at supporting the first 100,000 merchants who adopt these digital tools. Additionally, discussions are ongoing regarding regulatory reforms that could simplify the commercial landscape, potentially allowing certain business activities to operate under a permit rather than a license.
Concluding his remarks, Mezzour stressed the importance of collective engagement among public and private stakeholders to realize the vision of 'Morocco 2030' and to meet forthcoming national economic goals. The successful implementation of these agreements is anticipated to play a vital role in shaping the future of trade in Morocco, enhancing both the digital landscape and the employment market.
As reported by moroccoworldnews.com.
