[ad_1]
Morocco’s public enterprise reform experience took center stage at the World Bank Annual Meetings in Washington Wednesday, with Economy and Finance Minister Nadia Fettah highlighting the sector’s pivotal role in national economic development and job creation during a panel on employment-generating public enterprise reforms.
The kingdom’s 60 commercial public enterprises contribute significantly to economic vitality, generating nearly $25 billion in revenue with 40 percent profitability margins. These entities serve as crucial development catalysts, particularly in infrastructure advancement and strategic sector modernization, Fettah explained to international financial leaders.
Since 2021, reforms orchestrated by the National Agency for Strategic Management of State Holdings and Performance Monitoring have strengthened corporate governance while achieving 30 percent female representation on public enterprise boards. This governance enhancement has instilled greater rigor and dialogue within decision-making bodies, creating more responsive and accountable institutions.
The official cited exemplary enterprises demonstrating Morocco’s public sector dynamism. The National Office for Electricity and Drinking Water achieved 99 percent electrification coverage nationwide. The Phosphates Office (OCP) dominates global fertilizer markets while driving agricultural innovation. Tanger-Med port complex has become Africa’s leading container hub, while the Moroccan Agency for Sustainable Energy spearheads the nation’s renewable energy transition, positioning Morocco as a continental leader in clean energy deployment.
The Economy & Finance Minister emphasized transparency advances, including the upcoming transition to International Financial Reporting Standards (IFRS) accounting, marking a significant step toward enhanced financial transparency and international comparability. These governance improvements, combined with strategic focus on infrastructure development and economic modernization, position Morocco’s public enterprises as essential levers for sustainable growth, demonstrating how reformed state entities can effectively balance commercial viability with public service mandates while maintaining fiscal discipline.
[ad_2]
Source link