Diapositive 1

1
CORPORATE GOVERNANCE THE MOROCCAN CASE
Rachid BELKAHIA CGEM
DONOR FORUM ON WORLD BANK GROUP

PARIS - MAY 14-15, 2007
2
WHY IMPROVING GOOD CORPORATE GOVERNANCE IN
MOROCCO?
Sound corporate governance attracts domestic and
foreign investors and fosters growth and economic
development

- Access to financing - Higher firm valuation -
Better operational performance
- Reduced risk of financial crises

3
COMPETITIVE ASSETS OF MOROCCO
- A modern economic environment
- A Modern Macroeconomic Framework
- Administration reforms - A well developed infra
structures - Tax incentives - A success stories
of many international companies
- Market access (close proximity to European
markets) - Geo-strategic location - And good leg
al framework for improving CG practices
corporate law, capital markets law, competition
law, trade code, banking law, trade court law.
4
THE GLOBAL CORPORATE GOVERNANCE FORUM SUPPORT
- Integration of CGEM to the GCGF Network ? P
articipation of CGEM to CG international events
and to the workshops developing and
implementing CG code of Best Practice in the MENA
. ? organization in Morocco of international CG
events ? 2003/2005 ? IFC event June 8th, 9th
2007
5
THE GLOBAL CORPORATE GOVERNANCE FORUM SUPPORT

• - Expertise support for the CG national task
  force
  
• Private-Public task force
• Moroccan CG code expected by the end of 2007

6
NEXT STEPS FOR THE GCGF AND CGEM PARTNERSHIP

• - Establishment of a sustainable direction
  training organization
  
• - Setting up a pilot mediation centre within CGEM
  for CG related disputes
  
• - Dissemination from Morocco of CG best practices
  to other african francophone countries.
  
• As example, the first version of the toolkit or
  developing CG codes has been reviewed by CGEM