Enacted by royal decree on 9 December 2022, framework law 03-22 — the new investment charter — replaced the 1995 charter and rebuilt Morocco’s incentive system around one idea: transparent, stackable, contractualised investment premiums.
The main support scheme
Projects meeting the regulatory thresholds (typically MAD 50 million and stable job creation) can stack three premiums up to 30% of the eligible investment:
| Premium | Logic |
|---|---|
| Common premium | Criteria-based: stable jobs created, female-employment ratio, future-oriented trades, sustainability, local integration |
| Territorial premium | Top-up for projects in catching-up provinces (categories A and B) — in this region, Al Hoceima, Chefchaouen and Ouezzane are among the eligible territories |
| Sectoral premium | Top-up for priority sectors set by regulation (industry, tourism, logistics, outsourcing, renewables, digital…) |
Other schemes
- Strategic projects (MAD 2 billion and above, or of systemic impact): case-by-case agreements with the state;
- SME scheme: calibrated premiums for small and mid-size projects, live since 2025;
- Outbound investment: support for Moroccan companies expanding abroad;
- Mohammed VI Investment Fund: equity and quasi-equity co-investment.
What changed
The old regime (article 17 of law 18-95, Hassan II Fund, negotiated exemptions above MAD 200 million) relied on bespoke agreements. Law 03-22 replaces it with a unified premium scale, lower entry thresholds — opening support to mid-size projects — and decentralised governance: unified regional commissions now approve agreements within set deadlines.
Playing it in this region
Stacking the territorial and sectoral premiums makes tourism and agri-food projects in Al Hoceima, Chefchaouen and Ouezzane especially attractive, while large industrial projects on the Tangier–Tetouan axis mobilise the common premium and strategic agreements. The CRI processes applications; implementing decrees set the scales.
Reference. Framework law 03-22, Official Bulletin 7152; implementing decrees 2023–2025. Confirm current scales with the CRI or AMDIE before financial structuring.