Morocco set to adhere OECD investment committee

Morocco property is strongly committed to adhere to the investment committee of the Organization for Economic Co-operation and Development (OECD), Moroccan deputy minister of economic and general affairs, Nizar Baraka, said on Thursday.

"Morocco has adhered to all OECD values in terms of market economy, economic freedom, respect of human rights or the consolidation of democracy,"the minister said in the French capital at the opening of the 7th edition of the Global Forum on OECD international investments.

At a high rate of economic growth, which marked the Moroccan property economy over the past five years, reviving the country ambitions to become a platform for investment and exports, the minister said.

Indeed, the level of foreign investment broke out with 20% of GDP in the nineties to 30% now, thanks to the north African solutions to reduce corporate taxes, reduction of income tax to stimulate employment and reduce tariffs, he said.

Kingdom Morocco property, in general terms, to establish a programme to maintain stability in the macroeconomic environment, the reduction of the budget deficit, laying out new strategies to improve the economic and sector management, in order to further strengthen transparency and ethics in the business sphere, "he said.

The Moroccan property economic strategy based on the integration of sectors with a strong value-added, such as offshoring, nanotechnology, automotive technology, aeronautics and electronics to attract foreign investors, the minister added.