Around 15% of these transfers are going to savings, while the bulk of these transfers is oriented towards solidarity and support for families, the minister said during a working session on investment opportunities in Morocco, held by the General Confederation of Moroccan Enterprises (CGEM).

On this occasion, Benchaâboun stressed the importance of taking advantage of the know-how of Moroccans living abroad, noting that this community has developed a "network of connections, trade and technology, on which Morocco can capitalize to solve the issue of recovery."

The minister welcomed the "sustainable" increase in transfers of Moroccans abroad despite the economic constraints caused by the health crisis. A trend that reflects "the strength of ties between Morocco and this community."

"Overall, we have observed for several decades that these transfers evolve in a regular and continuous manner regardless of crises and events that could take place," he observed.

On the dynamics of investment in Morocco, Benchaâboun highlighted the changing business environment and the efforts undertaken to foster investment.

Reforms currently being carried out would allow moving up to more advanced ranks, he said, citing the law on Crowdfunding or the reform of the Regional Investment Centers, which reduced the processing time of investment projects.

Held under the theme "Morocco's Economic Recovery: Mobilizing Skills, Entrepreneurs and Moroccan Investors Worldwide," this session was attended by Moulay Hafid Elalamy, Minister of Industry, Trade and Green and Digital Economy, Nezha EL Ouafi, Minister Delegate in charge of Moroccans abroad, and Chakib Alj, President of CGEM.