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Morocco: Government Backs 28 Projects Worth $2.4 Bn

Meeting of Morocco's Investment Commission (Asharq al-Awsat)
Meeting of Morocco's Investment Commission (Asharq al-Awsat)
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Morocco: Government Backs 28 Projects Worth $2.4 Bn

Meeting of Morocco's Investment Commission (Asharq al-Awsat)
Meeting of Morocco's Investment Commission (Asharq al-Awsat)

Morocco's Investment Commission, under the chairmanship of Prime Minister Saadeddine Othmani, approved Wednesday 28 new investment projects worth $2.4 billion in various sectors.

The committee studies projects worth over $21 million and approves their governmental support either directly or through the Hassan II Development Fund. It also approves the privatization of public facilities for the private investment projects.

Speaking on the sidelines of the Committee's meeting, Othmani explained that the projects presented were diverse and tackle various vital sectors, such as industry, tourism, leisure, health, transport and infrastructure.

He stressed that the meeting comes within the context of the government's keenness to continue to implement a number of structural reforms aimed at stimulating and supporting investment and enhancing the confidence of private investors in the business climate in Morocco.

The PM indicated that the government is also working on a number of legislative reforms aimed at modernizing the legal aspects of business, improving Morocco's image as a preferred destination for investors.

The government also aims to improve Morocco's ranking in the World Bank's annual "Doing Business" report, which will put Morocco among the top fifty economies in the world.

In this context, the Prime Minister noted that the government prepared a draft law relating to movable collateral, with the aim of facilitating contracting to various funding sources available through the provision of movable collateral.

The draft also wants to improve the competitive conditions of contracting through securing financing for investments and consolidating the principles and rules of transparency in transactions relating to movable collateral.

In addition, Othmani informed the press that two bills on changing and completing the law relating to incorporated companies, as well as the law pertaining to partnership, limited partnership, partnership in commendam, and limited liability companies.

This will help enhance the protection of small investors and establish the principle of transparency and good governance as well as national legal arsenal with international standards.

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Saudi Arabia Makes History with Adoption of Riyadh Treaty on Design Law

Photo of the Riyadh Diplomatic Conference on the Design Law Treaty (Asharq Al-Awsat)
Photo of the Riyadh Diplomatic Conference on the Design Law Treaty (Asharq Al-Awsat)
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Saudi Arabia Makes History with Adoption of Riyadh Treaty on Design Law

Photo of the Riyadh Diplomatic Conference on the Design Law Treaty (Asharq Al-Awsat)
Photo of the Riyadh Diplomatic Conference on the Design Law Treaty (Asharq Al-Awsat)

Saudi Arabia has made history by uniting the 193 member states of the World Intellectual Property Organization (WIPO) to adopt the Riyadh Treaty on Design Law. This landmark achievement, realized after two decades of deliberation, underscores the Kingdom’s leadership in enhancing the global intellectual property system.

The announcement came at the conclusion of the Riyadh Diplomatic Conference on the Design Law Treaty, a rare event for WIPO, which has not held a diplomatic conference outside Geneva for more than a decade. It was also the first such event hosted in Saudi Arabia and the Middle East, representing the final stage of negotiations to establish an agreement aimed at simplifying and standardizing design protection procedures across member states.

Over the past two weeks, intensive discussions and negotiations among member states culminated in the adoption of the Riyadh Treaty, which commits signatory nations to a unified set of requirements for registering designs, ensuring consistent and streamlined procedures worldwide. The agreement is expected to have a significant positive impact on designers, enabling them to protect their creations more effectively and uniformly across international markets.

At a press conference held on Friday to mark the event’s conclusion, CEO of the Saudi Authority for Intellectual Property Abdulaziz Al-Suwailem highlighted the economic potential of the new protocol.

Responding to a question from Asharq Al-Awsat, Al-Suwailem noted the substantial contributions of young Saudi men and women in creative design. He explained that the agreement will enable their designs to be formally protected, allowing them to enter markets as valuable, tradable assets.

He also emphasized the symbolic importance of naming the convention the Riyadh Treaty, stating that it reflects Saudi Arabia’s growing influence as a bridge between cultures and a global center for innovative initiatives.

The treaty lays critical legal foundations to support designers and drive innovation worldwide, aligning with Saudi Arabia’s vision of promoting international collaboration in the creative industries and underscoring its leadership in building a sustainable future for innovators.

The agreement also advances global efforts to enhance creativity, protect intellectual property, and stimulate innovation on a broader scale.

This achievement further strengthens Saudi Arabia’s position as a global hub for groundbreaking initiatives, demonstrating its commitment to nurturing creativity, safeguarding designers’ rights, and driving the development of creative industries on an international scale.

The Riyadh Diplomatic Conference, held from November 11 to 22, was hosted by the Saudi Authority for Intellectual Property and attracted high-ranking officials and decision-makers from WIPO member states.