Kiosk360. The Mohammed VI Fund for Investment is starting the new year with a bang. The organization reaffirmed its great ambitions during its first board meeting. This article is a press review taken from the daily Les Inspirations Eco.
Three members of the government attended this meeting. They are the Minister of Economy and Finance, Nadia Fettah, the Minister of Energy Transition and Sustainable Development, Leila Benali, the Minister of Tourism, Crafts and the Social and Solidarity Economy , Fatim-Zahra Ammor, and the Minister Delegate to the Head of Government in charge of Investment, Convergence and Evaluation of Public Policies, Mohcine Jazouli.
“The year 2023 and those to come promise to be ambitious for the Mohammed VI Fund for Investment. The establishment created on royal instructions held in Rabat, Thursday, December 29, 2022, the first meeting of its board of directors”, we read in the daily. Eco Inspirations, in its edition of Monday, January 2.
“The presence of the ministers at this council was not insignificant. It testified to the importance of this meeting which was an opportunity for Mohamed Benchaaboun, Managing Director of the Fund, appointed to this position on October 18, 2022, to reaffirm the ambitions of his organization for 2023 and the years to come. indicates the daily.
Benchaaboun’s priorities include, in particular, industrial restructuring, innovation, support and financing for small and medium-sized enterprises, not to mention infrastructure and public-private partnerships, agriculture and tourism.
“During this first board meeting, Benchaaboun also presented the Fund’s organizational model and its main rules of governance. As such, an audit committee and a strategy and investment committee have been created, pursuant to the provisions of article 8 of Law No. 76-20. establishing the Fund”, indicates the daily.
It should be remembered that in order for this Fund to be able to fully carry out its mission, it was decided that it be endowed with legal personality and adequate managerial structures, so that, ultimately, it stands out as a model good governance, efficiency and transparency.
This institutional model has many advantages. It enables the Fund to adopt an investment strategy giving greater visibility to the priorities and choices of State intervention in the economic sphere.
In addition, the creation of the Fund in the form of a public limited company will constitute a lever for the mobilization of additional and innovative means of financing which will make it possible to promote investment, either directly by the acquisition of holdings in private structures which will mission the realization of investment projects at the national and territorial levels and the transfer of know-how in certain specialized fields, particularly technological, or indirectly through support for other companies.