(Ecofin Agency) - Last March 5 in Rabat, the Moroccan minister of industry, investment, trade and digital economy Moulay Hafid Elalamy, the minister of economy and finances, Mohamed Boussaid and the representative of the country’s 12 professional chambers signed a series of conventions related to the development of the chambers of commerce, industry and services (CCIS) and their federation.

These conventions are part of the framework agreement signed between the government and CCIS’s federation on April 2, 2014. Their aims are to establish a transparent and efficient governance model, implement customer-oriented and income-generating services and set an effective organization and subsequently reposition the federation.

In this regard, CCIS will be granted MD452 million (about $49.3 million) as financial support for an integrated and comprehensive transformation.

The fund will also help establish a transparent and efficient governance method and a catalog of services that meet the enterprises’ needs in terms of information and support in the deployment of their activities. It will also contribute to the development of structuring economic and income-generating projects such as industrial rental parks, exhibition centers, business zones and business centers.