The government decided on the draft law related to changing and completing the law issued regarding the reform of regional investment centers and the establishment of regional investment committees.
Considering these legal texts, and the realistic composition of the regional investment councils, has remained a demand raised by those interested in economic affairs, justifying the matter by saying “Morocco needs to strengthen the position of these centers in light of the new directions of the new investment charter, in parallel with the country’s involvement in major development projects over the years.” In the future, in implementation of what was stated in the new development model that talks about Morocco 2035.
Specialists in the economic field, who spoke to Hespress, highlighted “the importance of the role of these centers in promoting investment opportunities at the territorial and regional levels, and clarifying the qualifications of each party, in a way that serves the achievement of spatial justice and Morocco’s major economic strategies,” pointing out “the necessity of fully activating the role of these public institutions.” And the powers assigned to it by the Moroccan legislator.”
Mohamed Jadri, an economic expert, said that “Morocco has an ambitious strategic vision based on the new development model, a vision that aims to double the gross domestic product to $260 billion by the year 2035,” adding that “this strategic goal can only be achieved through The way to encourage private investment and raise its share compared to public investment, the latter of which will be limited only to some sectors.”
The same economic expert explained, in a statement to the electronic newspaper Hespress, that “regional investment centers play a role in establishing this vision and presenting the investment opportunities that the regions abound to investors,” noting that “this role is in line with the goal of the thematic bodies that aim to achieve investment excellence.” That is, each entity distinguishes itself by investing in a specific sector or field and achieving leadership at the national level.”
The same spokesman noted that “the Kingdom’s regions have a set of economic and human resources that stimulate investment, and therefore these centers must play their role in marketing these investment opportunities and providing ready-made project banks for the benefit of those wishing to invest in local and foreign investments,” explaining that “Morocco relies greatly on the centers.” And regional committees in order to develop the territorial economy and implement the contents of the development model and major economic projects in their comprehensive dimension.”
For his part, Rachid Sari, an economic analyst, said, “The role of the regional investment centers was limited to facilitating the establishment of many enterprises and companies, but the Moroccan legislator added to them the authority to engage in the management of industrial zones,” adding that “the new investment charter stipulates the achievement of spatial justice.” “With the activation of all the roles and powers granted to these centers.”
Sari added, in his conversation with Hespress, that “an evaluation of the work of the regional centers distributed across Morocco’s regions in this regard shows some exceptions, as the centers affiliated with the southern regions set out to introduce qualifications and investment opportunities in the southern regions of the Kingdom, but this model did not expand,” noting. “The emergence of new sectors that can be relied upon to create added value necessarily requires compliance by these public institutions.”
The same spokesman pointed out that “every regional investment center is required today, more than ever, in light of the major economic stakes, to conduct studies of various investment opportunities and investment trends at the regional level, and to work to attract investors; The most important thing is to search for financing resources and not just be satisfied with the administrative and management role.”
The declarant stressed to Hespress that “despite the powers granted to them and their restructuring, they have still not fulfilled these powers, despite the infusion of resources and human energies that this requires in order for them to be at the level of the national economic stake,” noting “the importance of work as well.” At this level, we encourage Moroccans around the world to invest in their country, and also to benefit from their competencies in many sectors and fields.”
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2024-05-06 14:38:43
Major development projects in Morocco require strengthening the roles of regional investment centers
Unlocking the Power of BRK, PARA, SAVE, and Beyond
Stock Market Update: Top Stories
As the trading day begins, here are the latest updates on companies making headlines:
Berkshire Hathaway
- Class A shares of Berkshire Hathaway saw a 1.2% increase in early trading, with a 39% year-over-year growth in operating profit.
- The conglomerate’s cash holdings reached record levels, nearing $200 billion.
Paramount
- Paramount shares surged 2.4% amid reports of acquisition negotiations with a group led by Sony Pictures Entertainment and Apollo.
- Warren Buffett revealed selling the entire Berkshire stake in Paramount at a loss.
Spirit Airlines
- The discount carrier experienced a 4% premarket drop after reporting a first-quarter loss of $1.46 per share, slightly wider than analyst estimates.
- Second-quarter revenue forecast fell below expectations.
Li Auto
- U.S. shares of the Chinese electric vehicle maker surged 6.7% following strong order data for the L6 model.
- The L6 model began deliveries last month.
Tyson Foods
- Tyson Foods shares rose 2.1% after posting second-quarter adjusted earnings exceeding analyst expectations.
- Revenue fell short of consensus estimates.
Starbucks
- Starbucks shares increased by 1% after former CEO Howard Schultz’s LinkedIn post addressing the need to improve U.S. operations.
- Quarterly earnings and revenue were weaker than expected.
Victoria’s Secret
- The intimate apparel stock dropped 5% following a downgrade by Morgan Stanley, citing negative EPS revisions and a challenging second half for specialty retail.
EHang Holdings
- The autonomous aircraft stock rose 3.2% after receiving a bullish research coverage initiation from Morgan Stanley.
- Morgan Stanley rated EHang as “primed for takeoff” due to growing regulatory and governmental support in China.
United States Steel
- Shares of the Pittsburgh-based steelmaker climbed over 2% after an upgrade from Morgan Stanley.
- Morgan Stanley highlighted internal improvements as a catalyst for potential growth.
Coinbase
- The crypto stock saw a 2.4% increase following a price target hike by Barclays, reflecting positive earnings results.
Bausch + Lomb
- U.S.-listed shares of the Canadian eye health stock rose 2.9% after an upgrade from Morgan Stanley, emphasizing progress in boosting core profit margins.
Johnson Controls
- Johnson Controls stock dipped 1.1% after a UBS downgrade, citing challenges in meeting future outlooks.
Stay tuned for more updates on the stock market trends. Reporting by CNBC’s Sarah Min, Tanaya Macheel, Jesse Pound, Michelle Fox, and Samantha Subin.
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Tightening alcohol content testing, the two beer industry giants had opposite results
Hanoi Beer’s deepest loss in 4 years
While Sabeco has positive signals for a promising year, the giant in the same industry in the North, Hanoi Beer – Alcohol – Beverage Joint Stock Corporation (Habeco, code: BHN) has quite good final results. poor performance in the first quarter of 2024, with negative after-tax profits deeper than the same period in 2023.
Specifically, although Habeco’s first quarter net revenue reached 1,308 billion VND, an increase of 12% over the same period, after deducting costs and taxes, Habeco still had an after-tax loss of nearly 21 billion VND, compared to a loss of 3.7 billion VND. billion VND in the same period last year.
In 2024, Habeco plans to achieve revenue of about 6,543 billion VND and profit after tax of 202 billion VND, both lower than the level achieved in 2023. With the first quarter results, the company is still far from the set profit target.
Thus, after three quarters of prosperous business, Hanoi Beer recorded the largest quarterly loss in 4 years, since the first quarter of 2020.
Explaining the negative profit situation, Habeco said that the decrease in deposit interest rates caused the company’s financial revenue to decrease by 16%, to nearly 38 billion VND. Besides, increasing investment in market work also significantly affects costs.
Habeco’s financial report shows that in the past period, sales expenses increased by 13% to more than 230 billion VND, of which the most expensive were advertising, promotion and support costs, which increased by 42%. to 105 billion VND.
Along with that, increasingly strict regulations on alcohol content force beer companies to spend more on advertising to increase brand recognition and gain market share.
Similarly, two subsidiaries of Hanoi Beer, Hanoi – Hai Duong Beer Joint Stock Company (code HAD) and Hanoi – Thanh Hoa Beer Joint Stock Company (code THB), also saw a decline in profits in the first quarter of 2024.
In which, HAD’s total revenue and net revenue were flat compared to the same period last year; Gross profit also decreased quite sharply, reaching only 2.5 billion VND, down 24% over the same period. Minus other expenses, HAD’s profit after tax was negative by more than 1 billion VND, while the same period last year was much lighter, about 213 million VND.
THB also recorded unsatisfactory business results as it continued to lose money in the first quarter of 2024. Specifically, this company’s revenue reached more than 23 billion VND, down 50% over the same period; Profit after tax was negative 3 billion VND, reducing the loss compared to the same period last year to negative 7.6 billion VND.
At the end of the trading session on May 3, BHN shares reached 38,500 VND/share.
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Tightening alcohol content testing, the two beer industry giants had opposite results