Towards New Arrangements for State Ownership in the Middle East and North Africa

image of Towards New Arrangements for State Ownership in the Middle East and North Africa

The role of state-owned enterprises (SOEs) in the Middle East and North African economies  (MENA) has historically been and remains significant in terms of their contribution to the economic value added, employment and the provision of vital services. State-owned enterprises operate across a wide range of sectors in the region - hydrocarbons, banking, construction – but also in network industries. Despite the privatisations carried out during the 1980-1990s, the role of the state in Arab economies has not declined and in many ways have indeed increased, reflecting the growth of oil and gas SOEs, sovereign wealth funds and infrastructure development projects, often carried out with the involvement of the state. This publication seeks to provide insight into the varied and rich experience in SOE reform in the region over the past decade, highlighting reform initiatives undertaken at national and country specific levels. It is unique in highlighting the challenges faced by policymakers in reforming the governance of regional SOEs

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Corporate governance of state-owned enterprises in Morocco

evolution and perspectives

Reform of the state-owned enterprise sector in Morocco has undergone three distinct phases: 1) structural reforms in the 1980s, 2) modernisation of their environment in the 1990s, and 3) the liberalisation of numerous industries in the 2000s. These measures have had a positive impact on the performance of SOEs, whose role has grown in the country’s economic and social development over the years. This chapter outlines the experience of reform of the Moroccan SOE sector from the 1980s to today, focusing on the introduction of a corporate governance code specifically aimed at state-owned enterprises in 2011. The code is the second of its kind in the region and constitutes a major step towards enhancing governance practices, especially in commercially-oriented SOEs.


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