beyondmsn.com

Breaking news and insights at beyondmsn.com

Morocco’s Industrial Acceleration Zones: A Model for African Economic Development

Morocco’s Minister Riyad Mezzour showcased the country’s experience with industrial acceleration zones at the UNECA session. He emphasized infrastructure investment, delegation of authority to zone developers, and the importance of export orientation for success. This model may inspire other African countries as Morocco prepares to host future conferences.

On Tuesday, Morocco’s Minister of Industry and Trade, Riyad Mezzour, highlighted the nation’s achievements in establishing industrial acceleration zones at the 57th session of the UNECA in Addis Ababa. During a round table discussion on Africa’s special economic zones, he emphasized key success factors, including the development of high-quality infrastructure and empowering zone management to developers.

Mezzour explained that the efficacy of special economic zones stems from the complete delegation of authority to their developers, who oversee construction and economic activities while adhering to strict regulations. This strategy aims to mitigate corruption, a significant barrier to attracting global investors, thereby enhancing their confidence.

In discussing infrastructure, he provided an example of a factory operational in Morocco, which uses as much electricity as a city with 500,000 residents and requires water comparable to that of a city with 100,000 inhabitants. Furthermore, he indicated that his ministry allocates 40% of its budget to industrial infrastructure initiatives, ensuring industrialists have access to essential utilities without directly financing them.

Mezzour additionally stated that successful special economic zones must focus on export-oriented industries, with a target of 80% of activity dedicated to exports. He stressed the necessity of having reliable internet connectivity for businesses operating within these zones.

Participants in the round table acknowledged the positive outcomes of Morocco’s initiative in establishing industrial acceleration zones, citing the critical importance of robust infrastructure. They expressed that this model could be beneficial for other African nations considering the establishment of special economic zones. Moreover, Morocco was unanimously chosen to lead the 57th ECA Conference of African Ministers of Finance, Planning, and Economic Development, with plans to host the 58th conference in March 2026.

In conclusion, Morocco’s approach to industrial acceleration zones, characterized by robust infrastructure and developer empowerment, sets a precedent for economic development in Africa. The delegation of authority aims to reduce corruption and attract investors, while significant infrastructure investment supports industrial growth. As Morocco prepares to lead future conferences, its model may serve as a potential framework for other African nations to follow.

Original Source: www.maroc.ma

Lila Chaudhury

Lila Chaudhury is a seasoned journalist with over a decade of experience in international reporting. Born and raised in Mumbai, she obtained her degree in Journalism from the University of Delhi. Her career began at a local newspaper where she quickly developed a reputation for her incisive analysis and compelling storytelling. Lila has worked with various global news organizations and has reported from conflict zones and emerging democracies, earning accolades for her brave coverage and dedication to truth.

Leave a Reply

Your email address will not be published. Required fields are marked *