After at least two years of absence, due to the pandemic, the return this summer of Moroccans residing abroad (MRE) is clearly making itself felt in the economic and commercial life of the country, thus reaffirming their place in the process of development and growth of the country.
Although the Moroccans of the World were unable to reach Morocco, due to the closing of the borders, their momentum of solidarity had not been broken throughout the period of crisis linked to Covid. Their remittances going crescendo defying all forecasts, say a lot, and above all continue to consolidate foreign exchange reserves.
During this summer period, a large influx of the diaspora can be seen in several cities of the Kingdom thanks in particular to the smooth running of the Marhaba operation. Returning with force, their presence is felt in economic and commercial life.
In shops, large and small, or in tourist establishments and leisure centres, or cafes and restaurants, to name a few, peaks in attendance are observed, bringing in their wake an economic and commercial synergy both aspired by the various operators in all sectors.
Overall, MREs participate in the economy of the Kingdom through remittances, travel receipts and activities related to investment in certain sectors of the national economy by also providing their know-how and expertise.
Remittances: resilience at all costs Remittances from the Moroccan diaspora have indeed maintained a sustained pace despite the various difficulties caused by the context of the health crisis which has spared no corner of the world, better still, these shipments marked spectacular leaps.
The latest statistics from the Foreign Exchange Office once again confirm this solid trend since transfers from Moroccans living abroad rose, at the end of June, by more than 15.18 billion dirhams (MMDH), compared to their level of 2018.
In the first half, they were already at 47.04 billion dirhams, against 44.33 billion dirhams a year earlier, the increase is thus 6.1%, which ensures a significant margin of foreign exchange reserves for Morocco.
A particular interest of the State Aware of its social and economic weight and capitalizing on its accumulated expertise in several fields, the State attaches specific importance to the Moroccan community residing abroad through the establishment of a global approach aimed at encouraging the effective contribution of Moroccans living abroad to the development of the economy of their mother country, in the various regions of the Kingdom.
In this sense, several initiatives have been taken to encourage investments by Moroccans living abroad in Morocco and to offer them, at the same time, the necessary services and incentive mechanisms, including in particular orientation and information platforms for holders of projects wishing to undertake in Morocco.
It also involves the introduction of digital systems offering simplified and 100% online procedures, in particular to obtain information on procedures and incentives related to investment, launch projects and monitor their progress.
Note also the exceptional mobilization of the Urban Agencies of the various regions of the Kingdom and the Regional Investment Centers for the organization of open days and the establishment of one-stop shops for MREs, in addition to the strengthening of measures to support MREs during of their stay in Morocco during this summer period.
In addition, and as part of the Marhaba 2022 operation, the Hassan II Foundation for MREs recently opened a reception center in Rabat dedicated to Moroccans from around the world. This center, open until September 15, mobilized executives specialized in the legal and economic fields, as well as two specialized executives from the General Directorate of Taxes and the National Agency for Land Conservation, Cadastre and Cartography (ANCFCC), in order to assist MREs and respond to their requests.
In this context of recovery, Moroccans living abroad increasingly occupy a prominent place in the national economy and should establish themselves as real investors. The big challenge is to focus on their skills and encourage them to diversify their investments to reach all sectors.