20 August 2014

Morocco: HM King Mohammed VI - Morocco's Development Model Reaches Maturity to Join Emerging Nations

Rabat — Morocco's development model has reached maturity and deserves to join the group of emerging nations once and for all, HM King Mohammed VI underlined.

"Our development model has reached maturity and deserves to join the group of emerging nations once and for all. The coming years will nonetheless be crucial for safeguarding achievements, addressing malfunctions and boosting development and investment", the Sovereign said in a speech to the Nation on the 61st anniversary of the King and People's Revolution Day.

The monarch, who noted that Morocco is clearly lagging behind in this respect because of a weak, disorganized industrial sector and competition from the informal sector, said that in such a situation, "strong corporations and businesses have to be set up to boost the immunity of the national economy, both to enhance international competitiveness and develop partnerships with small businesses in order to stimulate growth at home".

For the Sovereign, the key to enhancing competitiveness and meeting development and job market needs is to have qualified human resources, who are necessary to be in tune with the evolution and diversification of the national economy.

HM the King highlighted the importance of good governance, "essential for the success of any reform" and a "basic means for achieving the goals of any strategy", underlining the need to continue improving the business environment, especially by pressing ahead with administrative and judicial reforms, combatting corruption and moralizing public life.

"This is not exclusively the State's responsibility, but that of society as a whole, individuals and associations", the Sovereign underlined, noting that the State's strategic role as a regulator should also be enhanced and major reforms, namely of the retirement and tax systems, should be initiated, while committing to upholding the principles of good governance in all sectors.

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