Khaled Saidi, head of the Moroccan Cinematographic Center (CCM), describes the resurgence following the re-opening of borders, saying he is happy with the resumption of film investments. “Very impressive”Exceeds all expectations in terms of foreign production.
In 2022, Netflix invested 190 MDH in Morocco
“In 2022, Netflix is producing two major shoots with a total budget of AED 190 million. Originally titled as a feature film Lonely Planet For an investment of 90 million dirhams, then series lioness Recently signed for 100 MDH. »
Apart from these two mega productions, about ten projects with an average amount of 20 MDH generated a total investment of 480 MDH, which should include commercial films, institutional films and documentaries… This will enable a historic turnover. .
The recovery year will generate turnover exceeding one billion dirhams
At this rate, Saidi claims, CCM will end the year with a turnover exceeding one billion dirhams, and therefore on par with previous years’ turnover.
Indeed, this forecast amount will exceed by at least 25% the 800 MDH achieved in the year 2019, which already represents a record in terms of turnover since 2010.
AED 1.3 billion foreign investment is planned by 2023
“An unsustainable cap in 2020, it achieved a catastrophic turnover of 211 MDH, followed by a slight recovery in 2021, generating 441 MDH, far from 800 MDH. »
According to our interlocutor, thanks to the tax support policy recently implemented by the Ministry of Supervision, the current momentum will further accelerate and reach a turnover of 1.2 or 1.3 billion dirhams in 2023. The latter increased the tax reduction rate from 20% to 30%, establishing Morocco as the first shooting destination for foreign manufacturing.
Morocco, the African leader in terms of foreign investment
A measure that made it possible to strengthen Morocco’s economic competitiveness at the level of the MENA region and even in Mediterranean Europe, with other assets (assistance from the CCM, teams of specialized technical experts, extraordinary light, etc.). However there is no other country that offers 50% tax exemption.
“If we compare with countries like Ireland or Denmark, we can’t talk about direct competitors, because we can shoot everything in Morocco, unlike these countries, which offer special climatic conditions,” explains Saidi. In the past, the only real competitor on the continent was South Africa, which was pushed out by the country’s geographical proximity.
According to him, the government’s proactive policy of meeting the expectations of foreign producers will begin to bear fruit by attracting ultra-famous directors to Morocco.
Spielberg invests 300 MDH to shoot in Morocco
“Thus, CCM is in the process of finalizing the shooting of an American mega production Blockbuster With director Steven Spielberg, it will be officially announced before the end of 2022.
“Spielberg decided to make most of his new feature film in Morocco, but initially only planned to shoot for a few days,” said Saidi, revealing that the film’s investment budget will be $30 million, or MDH 300. .
Remembering that this budget has already been reached for the filming of the series homelandThe Interim Director General concludes, “It is not every day that CCM signs such a large amount, which, apart from the financial aspect, will create a huge publicity in Morocco and lead to other important constructions”.