14 November 2019
Morocco has approved plans to launch a government platform to provide information about projects and incentives for national contractors within a strategy to protect its entrepreneurs following reports of the collapse of thousands of small firms.

Moroccan Prime Minister Saad-Eddine Al-Othmani said the project is part of new measures undertaken by the government to support contractors including the creation of a six-billion-dirham ($625 million) fund to finance small projects.

Quoted by the Moroccan daily Hespress, Al-Othmani said the "National Platform for the Support of Local Contractors" would be launched within the next few months.

"This platform will be the only window that will provide all information about projects, incentives and government laws and policies for the contractors," he said.

He said the government is pushing ahead with the fund after it was approved by parliament and that it would be launched in 2020.

Part of the funds would be allocated by the government from the 2020 budget and rest would be provided by Bank Al-Maghrib (Morocco's central bank), he added.

According to the paper, more than 8,000 small contracting firms in Morocco went bankrupt or dropped out of the market in 2018.

(Writing by Nadim Kawach; Editing by Anoop Menon)

(anoop.menon@refinitiv.com)

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