According to economists’ forecasts, global superpowers will direct production units to countries that offer good quality labor for relatively low prices, such as Morocco.
Rabat – After the COVID-19 crisis, the Moroccan economy will have “unimaginable opportunities,” said Morocco’s Minister of Industry Moulay Hafid Elalamy.
The opportunities, however, depend heavily on the country’s management of the crisis.
Elalamy made the statement on Tuesday, April 28, during a meeting with members from the House of Councillors to discuss Morocco’s economic activity and future prospects amid the COVID-19 crisis.
Elalamy hinted at the importance of resuming economic activity to overcome the crisis while maintaining the necessary precautionary measures to avoid any outbreaks at production units.
“The Moroccan economy will certainly experience difficulties. We must get out of the crisis by being ready. But first, let’s agree. Should we reopen factories or not?” the minister asked.
The ministry has mobilized staff to monitor operations in Moroccan factories and ensure their compliance with the measures required by health authorities. The monitoring authorities do not hesitate to close factories that do not meet safety and protection standards amid the COVID-19 pandemic, Elalamy assured.
Referring to the case of a factory in Ain Sebaa, northern Casablanca, where health authorities detected over 130 COVID-19 infections among employees, the minister explained that such incidents can arise at any time, even if factories reopen after one or two years.
“The woman who distributes the masks must have infected her colleagues. These things happen. Zero risk does not exist,” he added.
Elalamy’s expectations for Moroccan economy after the COVID-19 crisis are in line with forecasts from several economists.
On April 21, Morocco’s New Development Model Committee (CSMD) broadcasted a videoconference with economic experts to debate the impacts of the COVID-19 crisis.
During the meeting, French economist Daniel Cohen predicted the end of the “China-centered globalization,” a model that relies on low-cost production in China and Southeast Asia.
According to Cohen, global superpowers will start focusing their production chains in other countries that offer good quality labor for relatively low prices.
“This is good news for a country like Morocco,” the expert said.
