Casablanca-Settat’s 47 Billion Dirham Investment Plan: A Blueprint for Moroccan Economic Growth
Table of Contents
- Casablanca-Settat’s 47 Billion Dirham Investment Plan: A Blueprint for Moroccan Economic Growth
- Land: The Nerve of Investment
- Diversifying Funding Sources
- Optimized Governance for Maximum Impact
- A Model for the future?
- Dissecting the Vision: A Tailored Approach to Regional growth
- Securing Land for the Future: Innovative Strategies in Action
- Funding the Future: Diversifying Investment Streams
- streamlining Governance for Optimal Impact
- Paving the way for Other Regions: A Replicable Model
- Final Reflections: Looking to a Resilient Future
Casablanca-Settat, a pivotal region in Morocco, is embarking on a transformative journey with a substantial 47 billion dirham investment program spanning 2022 to 2027. Spearheaded by Abdellatif Maazouz, president of the Casablanca-Settat region, this aspiring plan aims for not just massive investment, but also strategic, sustainable growth.
Maazouz’s vision hinges on meticulous regional planning. To optimize investor attraction, the region is divided into five distinct zones, each tailored to specific economic activities. “We have taken the region and we have shared it in several areas adapted to local economic realities with spaces dedicated to traditional sectors and other industries,”
Maazouz explained at a recent conference on organized investment at the National School of Administration (ENSA).
This strategic zoning prioritizes environmental sustainability. Around Casablanca, polluting industries are being phased out. “Around Casablanca, we have decided that there would be no more polluting industries. The objective is to orient investments towards sectors more respectful of the habitat,”
Maazouz specified. Other areas will focus on industrial and logistics hubs.
This territorial division streamlines industrial location and investment distribution. “We have done meticulous work to structure these spaces.Thanks to this, we can today accommodate investments in a more fluid manner, avoiding anarchy in the allocation of land,”
Maazouz insisted. This structured approach aims to efficiently manage land, a critical resource for attracting investment.
Land: The Nerve of Investment
Land availability is a major obstacle to private sector development. To address this, the Regional Council has secured 750 hectares for industrial and logistical zones. The strategy involves acquiring public land and making it available to companies through long-term leases rather than outright sales.“We do not sell the land, in contrast, we provide them in the form of a long-term rental, to guarantee strategic control over their use,”
Maazouz stated.
A 10-hectare pilot project has already yielded positive results. “We have installed this area in an employment pool which will generate several thousand jobs,”
Maazouz indicated. Building on this success, a larger 250-hectare industrial zone is planned, with a call for interest to select private developers.
Diversifying Funding Sources
To reduce reliance on public budgets, Casablanca-Settat is exploring diverse funding avenues. A groundbreaking move saw the region issue a 1 billion dirham bond, demonstrating financial autonomy. “We have proven that we could raise funds directly on the financial markets, which represents a major advance,”
Maazouz said.
The World Bank’s direct loan to Casablanca-Settat, without a state guarantee—a first in Africa—underscores international confidence in the region’s management.“This loan testifies to the confidence of international donors in our management and our ability to carry out structuring projects,”
he explained. Further bolstering its financial resources, the region secured €100 million from the French Development Agency (AFD) at preferential rates for climate-aligned projects. “We have negotiated funding at preferential rates for projects aligned on climatic objectives,”
Maazouz noted.
Optimized Governance for Maximum Impact
Efficient public fund management is crucial to maximizing the impact of infrastructure projects. Casablanca-Settat employs a leverage strategy: “For each dirham invested, we must mobilize three additional dirhams via partnerships with the State, local communities or donors,”
Maazouz explained. This approach goes beyond subsidies; the region actively participates in project capital to ensure profitability and generate future revenue.
The region is also exploring innovative financing mechanisms, including regional bonds and ESG-compliant financial instruments. “We must diversify our sources of financing and structure our projects so as to attract international institutional investors,”
Maazouz estimated. Addressing governance challenges,he advocates for improved coordination among public entities to eliminate administrative redundancies. “We still have too many interferences between public establishments, which slows down the implementation of projects,”
he lamented.
A Model for the future?
Casablanca-Settat’s strategy aims to establish a high-performance regional management model, characterized by targeted, profitable public investments. “We have the opportunity to show that a region can be an economic engine in its own right, and not just a simple performer of national policies,”
maazouz stated.The core elements of this model include effective land management to attract investors, diversified funding to reduce reliance on subsidies, and rigorous governance to prevent resource waste.
The ultimate goal is to create a replicable model for other Moroccan regions. “If we manage to prove that regional investment can be autonomous and efficient, we will create a precedent that could transform the management of communities in Morocco,”
Maazouz concluded.
Unlocking the Future: How Casablanca-Settat’s investment Plan is Shaping Morocco’s Economic Landscape
In a bold move that could redefine regional governance across Morocco, the Casablanca-Settat region has embarked on a transformative 47 billion dirham investment plan designed to catalyze economic growth and sustainability. Spearheaded by visionary leader Abdellatif Maazouz, this enterprising strategy not only promises meaningful financial influx but also positions the region as a potential blueprint for future economic endeavors. Let’s delve into the intricacies of this groundbreaking plan with insights from Dr.Najlae El-Behi, an expert in regional economic development and enduring planning.
Dissecting the Vision: A Tailored Approach to Regional growth
Senior Editor (SE): Dr.El-Behi, Casablanca-Settat’s investment strategy focuses on creating distinct economic zones tailored to specific activities. Can you elaborate on the potential impact of this strategic zoning?
Dr.Najlae El-Behi: Absolutely. The decision to divide the region into five specialized zones is a remarkable step towards maximizing economic efficiency and sustainability. By aligning each zone with particular industries, Casablanca-Settat can cater to local economic strengths and needs, thereby fostering a robust regional economy. As a notable example, phasing out polluting industries around Casablanca to preserve environmental health is both a practical and ethical move. This approach not only enhances the region’s appeal to forward-thinking investors but also ensures that growth is sustainable and harmonious with Morocco’s ecological goals. Long-term, this strategy supports an economic ecosystem that balances industrialization with environmental conservancy.
Securing Land for the Future: Innovative Strategies in Action
SE: Land availability has been a major challenge for regional development.How effective do you think Casablanca-Settat’s strategy of using long-term leases is in overcoming this obstacle?
Dr. El-Behi: Casablanca-Settat’s approach to land management—particularly its strategy of providing land through long-term leases instead of outright sales—is an innovative solution with potential for replication. By maintaining strategic control over land use, the region can ensure that developments align with broader economic and environmental objectives. This method also offers versatility and security for businesses, which can be critical in attracting diverse industrial players. Moreover, the success of the initial pilot projects, such as the employment pool generating several thousand jobs, underscores the viability of this approach. Such initiatives pave the way for large-scale industrial zones like the planned 250-hectare area, further enhancing employment opportunities and economic activity.
Funding the Future: Diversifying Investment Streams
SE: Funding large-scale projects is challenging. How significant is Casablanca-Settat’s recourse to diverse financing sources, including bonds and international loans, for its economic prospects?
Dr. El-Behi: Casablanca-Settat’s diversified funding strategy is crucial in mitigating reliance on public budgets and fostering financial autonomy. The issuance of a 1 billion dirham bond and securing a loan directly from the World Bank are monumental strides that showcase financial innovation and confidence in the region’s governance. These achievements not only affirm Morocco’s standing in global financial markets but also open doors for future projects, buttressed by international support. Engaging with institutions like the french Development Agency and exploring ESG-compliant instruments further bolster this strategy, attracting global investors interested in climate-friendly projects. Ultimately, diversified funding sources create a resilient economic framework that can withstand financial volatility.
streamlining Governance for Optimal Impact
SE: What are the challenges and solutions in optimizing governance for the effective implementation of such a large-scale investment plan?
Dr.El-Behi: Optimizing governance is critical for the success of Casablanca-Settat’s ambitious plan. The primary challenge lies in ensuring seamless coordination among various public entities to prevent administrative redundancy and streamline project implementation. Casablanca-Settat’s approach, which involves leveraging funds to mobilize additional resources through partnerships, showcases innovative governance. This not only maximizes fiscal resources but also encourages shared ownership and responsibility among stakeholders, including state partners and international donors. By adopting a participatory model that includes public investments and strategic project involvement, the region can ensure both accountability and profitability. Moreover, fostering transparency and collaboration across public entities is essential to maintaining investor confidence and accelerating project timelines.
Paving the way for Other Regions: A Replicable Model
SE: How can Casablanca-Settat’s model serve as a template for other regions in Morocco?
Dr. El-Behi: Casablanca-Settat’s strategy has the potential to become a benchmark for regional governance and investment across Morocco. By demonstrating that targeted, profitable public investments can drive economic self-sufficiency, the region sets a precedent for others to follow. The model’s core tenets—effective land management, diversified funding, rigorous governance, and sustainability—provide a extensive framework that other Moroccan regions can adapt to their unique contexts. Critical insights, such as prioritizing strategic land use and diversifying financial approaches, can guide regional transformations nationwide. Success here could herald a transformative era of decentralized economic governance in Morocco, fostering regional innovation and economic autonomy across the country.
Final Reflections: Looking to a Resilient Future
Casablanca-Settat’s 47 billion dirham investment plan underscores a new chapter of economic dynamism rooted in strategic zoning, innovative financing, and efficient governance. As the region continues to navigate its ambitious agenda—fueled by a blend of public partnerships, international confidence, and environmental responsibility—it sets a pioneering example for sustainable regional development.As we watch this visionary plan unfold, it invites other regions worldwide to reflect on leveraging localized strengths to build a resilient and inclusive economic future.
Dr. El-Behi, thank you for your insights.Your expertise has provided profound clarity on themes critical to understanding regional economic transformations. We invite our readers to share their thoughts in the comments below and discuss how such innovative strategies might apply in their own contexts.