Description
A public industrial investment fund (the Industrial Development Fund – IDF), with a 20 billion dirham, will allow the industrial fabric to consolidate, upgrade and develop its substitution capacity to imported products._x000D_
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The IDF was founded according to the 2015 Finance Law and has annual resources amounting to 3 billion MAD over the period 2014-2020._x000D_
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Alongside State support, the support of the banking sector is renewed following the launch of the new strategy. An integrated and competitive financing offer is introduced, pursuant to a partnership agreement concluded between the State and the banking sector, which commits itself to support industrial companies (competitive rates, support for restructuring, support for internationalization, …) and to provide the necessary consultancy and support to project holders.
Organization
MIDA; RIC
Detail
The IPF calls for the government to partially support land acquisition expenses (up to 20% of the land cost), external infrastructure (up to 5% of the total investment program or 10% in the case of investments in the spinning, weaving or finishing sector) and vocational training (up to 20% of the cost of such training).
The contributions may be accumulated provided that the overall contribution of the State does not exceed 5% of the total amount of the investment program; or 10% when the investment is in the spinning, weaving or textile finishing sector or when the investment project is scheduled in a suburban or rural area.
Eligibility
The investment project must satisfy at least one of the following five criteria:
• With an amount exceeding or equal to MAD 200 over 3 years;
• Be carried out in one of the provinces or prefectures listed in decree n° 2-98-520 of June 30, 1998 (corresponding to 5 Rabii I 1419 Anno Hejirae);
• Enable the creation of a minimum of 250 stable jobs over 3 years;
• Ensure technology transfer;
• Contribute to the protection of the environment.
