Home
/
Isiam
/
Politics & Economics
/
Moroccans abroad asked to invest
Moroccans abroad asked to invest
Nov 14, 2024 8:58 PM

  Morocco wants to lure back its citizens living abroad to reverse a brain drain and reduce poverty, but many say they have worked hard to carve out a life in Europe and to return would be a leap into the unknown.

  The three million Moroccans living abroad represent around 10 per cent of the country's resident population and their money transfers are its biggest foreign currency source after tourism.

  An official report early this year said Morocco must create 400,000 jobs annually over the next 10 years to prevent mass unemployment, especially among graduates.

  The government is turning to expatriates to help build the businesses that will create those jobs.

  But many of those who fled unemployment in Morocco now have good jobs, higher living standards and foreign-educated children.

  Even those struggling in the European job market who feel discriminated against because of their origins say a return to Morocco holds risks and uncertain rewards.

  "It's already hard enough getting by in France," said Jaouad Ouargo, a 21-year-old auto engineer from Paris, as he queued in the northern port of Tangier for the ferry to Spain. "If I try something new here, it'll be harder."

  Government bid

  The government is trying to boost sluggish economic growth by enacting investment-friendly reforms and making the banking sector more robust to cut lending rates.

  High-value industrial exports are being nurtured with free trade deals and heavy transport infrastructure investment to reduce the economy's reliance on drought-prone agricultural.

  While foreign investment in Morocco is booming, spurred on by large-scale tourism and property developments, expatriates appear loath to sink their money into smaller, job-creating enterprises.

  Some 2.58 billion US dollar were repatriated in the first half of 2006, 24 per cent more than a year earlier, but most went to support families and build second homes.

  Many Moroccans living abroad say they are put off starting a business by complex administrative procedures, the risk of long delays in getting the right documents, and a perception that you need powerful contacts in business and government.

  "This reticence is linked to a totally outdated image," said Jelloul Samsseme, head of Morocco's northern regional investment centre, saying anyone wanting to start up a business could have all the documents they need from one location within 48 hours.

  At annual meet-and-greet events to coincide with the summer exodus to the motherland, officials try to convince Moroccans based abroad that setting up shop at home has never been easier.

  Procedures are far simpler, interest rates have fallen and the state offers tax breaks and help buying land.

  Nezha Chekrouni, the minister for Moroccans living abroad, said: "Yes, there are still many problems but we are doing our best to solve them.

  "We hope to establish new instruments ... including an investment fund."

  Tough for children

  Kamal Lahsen, 35, grows lettuce in Spain and says he is ready to come home. It would be tough for his children who speak only Spanish, but he wants to be near his family.

  "It's got easier to create a company and I think I could get financial help," he said. "Next year I'll try to get some money together and then - who knows?"

  Builder Jawad, 35, remains to be convinced.

  "My father had a business here building shop interiors but he went bankrupt and the reason was corruption," he said.

  "In Morocco you have to pay lots of money to win new business and he was behind paying his workers and lacked the cash."

Comments
Welcome to mreligion comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Politics & Economics
US Congress to vote on indefinite detention
  While it's known that the US has used indefinite detention of suspects in its "war on terror", the House and Senate are just a vote away from making the same treatment legal for US citizens apprehended within the US.   The Senate already passed one version of the 2012 National Defense...
Kuwaiti families in legal limbo at Guantanamo
  Fatimah Al Kandari has not seen her son Fayiz Al Kandari in more than 10 years, but her thoughts are possessed by him. She sees Fayiz in every face. She thinks she hears him at times speaking to her. There is no room for anything else in Fatimah Al Kandari's...
No relief for Iraqi doctors
  As thousands of doctors leave Iraq, those who remain to heal the sick say they need more security and less corruption.   "The hospital is crowded, the medical staff are overloaded, and we are deficient of medical staff because doctors continue to leave Iraq," Dr Yehiyah Karim, a general surgeon at...
Millions of aborted girls imbalance India
  Modern medical technology - specifically ultrasounds for determining the baby's sex - coupled with Indian ancient social values which give preference to boys, mean that hundreds of thousands of girls are never being born.   There were only 914 girls for every 1,000 boys under the age of six in India,...
Blaming Muslims - yet again
  With at least 92 people dead and several injured, the brutality of Friday's attacks in Norway left the country reeling.   But who to blame for the bomb blast that tore through Oslo's government district and the shooting spree that left scores of teenagers dead at a youth summer camp in...
'Greek government has bowed to pressure'
  The Greek government decided to prohibit the departure of a flotilla of 'aid ships' from Greek ports to the Gaza Strip. In a statement released on Friday, the Greeks explained that this was done in a bid to prevent a breach of Israel's naval blockade against the Palestinian enclave.   Khalid...
Gaza unemployment levels 'among worst in world'
  Gaza's unemployment rate was among the world's highest, at 45.2% in late 2010, the UN has found, as Israel's blockade of the territory enters its fifth year.   Real wages meanwhile fell by more than a third, the UN Relief and Works Agency for Palestine Refugees (UNRWA) said.   Its report says...
India: Malnutrition becomes 'national shame'
  Geeta, a 27-year-old mother of three, living on the outskirts of the national capital region looks vacant at the queries of malnourishment. For her, gathering cereals for the two square meals of her family is a luxury. Her four-year-old daughter, the youngest of her children, looks too tiny for her...
Islamophobia, Zionism and the Norway massacre
  In a Washington Post op-ed last week, Abraham Foxman, the National Director of the Anti Defamation League, likened the hateful ideology that inspired Anders Behring Breivik to massacre 77 innocent people in Norway to the "deadly" anti-Semitism that infected Europe in the 19th and 20th centuries.   This is a parallel...
UN: Somalia is 'worst humanitarian disaster'
  The head of the United Nations refugee agency has described the situation in drought-hit Somalia as the "worst humanitarian disaster" in the world, after meeting with those affected at the Dadaab refugee camp in Kenya.   The camp, located in the northeast and the world's largest in the world, is overflowing...
Related Classification
Copyright 2023-2024 - www.mreligion.com All Rights Reserved