 Mr. Head of Government, it's a great pleasure for us to welcome you to this annual meeting in Davos. We are entering a decade of crucial action to ensure that the world can obtain a sustainable future and no solution that is not inclusive can be brought without the momentum and ambition of African peoples and communities. The youngest continent in the world with the fastest growth. The Kingdom of Morocco is a brick in the connection between nations of the world. And for that reason, Mr. Prime Minister, we are delighted to have you with us today. Mr. President of the World Economic Forum, dear Klaus Schwab, ladies, gentlemen, I am very happy to be speaking here in 2023 and let me wish you all my very best wishes for the new year. 2023 will be a year when our collective and individual duty will be to be optimistic. Our world has been shaken up by successive crises, the Covid pandemic, the war in Ukraine, the rise in energy and commodity prices as well as global warming. The relationships between states are deeply fragmented and the risk of fragmentation also strikes our societies where feeling of inequality and exclusion persists in many parts of the population. The development of new technologies and their ability to transform our daily lives is accelerating and requires from us adaptation that is both fast and vital. Ladies and gentlemen, as a person, as all of us as persons responsible for economic and political development, we have a duty and the media question us, of course, and the people's question us. How can we turn these challenges into opportunities? And in the longer term, what is the ideal of peace and prosperity that we can guarantee to our future generations? Because we must simultaneously note two things. One, globalization is not always a happy moment. It does not always keep its promises. And on contrary to the myth of the end of history, everything remains to be done. And Morocco and Africa more broadly must write their own history. Ladies and gentlemen, the huge task before us in this huge task, Morocco is an ideal partner to build a response as is both economic, political, environmental and social. We live in a multicolor world, the kingdom, under the enlightened leadership of His Majesty, King Mohammed VI, has become a regional model. We have built modern democratic institutions. Our constitution voted in 2011, proof so, the reform of the family code, a rule groundbreaking at the service of equality and human rights. Regionalization, advanced regionalization allows us to bring participatory democracy deep in the heart of our communities. We have built infrastructure in the best world-class infrastructure, connectivity, sea, land and air, 2,000 kilometers of motorways, the first high-speed train line in Africa, the largest Mediterranean seaport and very soon a very large port on the Atlantic Ocean, as well as 14 international airports which provide the ability to travel across Africa. These infrastructures have allowed Morocco to obtain a very attractive tourist sector, high-performance industry, a fantastic agricultural sector, industry in the automotive and aerospace sectors. We have also established relations of trust. The last establishing Morocco was a trusted partner in Africa, particularly where His Majesty King Mohammed VI has traveled across Africa extensively. 50 visits, cooperation agreements have been signed in a struggle against protectionism in Africa. The Slekaf, the greatest free trade area, has been founded. There are trade agreements with the European Union, the United States and this free trade area now opens access to 2 billion consumers. Morocco has also become a leader in sustainable development, economic and human development, huge challenges for our generation, renewable energies now account for 38% of our energy mix and our ambition is to reach 50% by 2030. We are working hard for peace and security in the region but also in the broader world by contributing to a dialogue between civilizations and working for rapprochement between cultures, religions and peoples which live together in peace across the Kingdom of Morocco. Morocco has all of the assets to work with its partners to turn challenges into opportunities at the crossroads of Africa, Europe, the Atlantic Ocean. Its strategic position gives it a place of choice in the value chains of the world. It has some of the most abundant and cheapest resources in the world which will help in the development of hydrogen, of green hydrogen. Morocco will also be a key player in decarbonisation of the world. We must offer a new ideal, a new political compact to the future generation so that they can project themselves optimistically into the future. Morocco, under the leadership of its sovereign, is now entering a new phase of its development through the edification of a social state. In one year our government followed the royal agenda with a regulatory framework for mandatory social security and rights open to two thirds of the population who have benefited, who until now did not benefit from this welfare state. We want to go further and also generalise family benefits through efficient targeting of welfare benefits. Our government has also faced with great determination the multiple crises of 2022, the energy crisis with rising prices, the climate with the worst drought in 40 years, the monetary crisis with the return of inflation. We have worked to support through budget measures and we've managed to preserve our macroeconomic balances and our priority reforms. Our government has guaranteed supply, has contained inflation and is continuing to work on reducing its deficits. We're also continuing to invest in the future. Morocco has a national health system that is entirely necessary for the reform of social protection in 2023. One third of the government's budget has been allocated to health and education, $7 billion dedicated to that. These considerable resources must be better used to upgrade our education system, strengthen its performance. Our objective is to rebuild trust in public education and strengthen the skills of old school children. All of these social reforms were facilitated by a major institutional advance because the government has chosen to strengthen social dialogue with the main trade unions. We listen, we negotiate and we move together. Ladies and gentlemen, in Morocco we are well aware of the place, the position we wish to occupy in the world and this is why we have a new investment charter, a new attractive and incentivising framework for international and national investors, be they large or small. That is also what we're aiming to obtain with our reforms, to simplify tax rules and place them at the best world-class standards by reducing the tax pressure on SMEs, which are, of course, key growth drivers. But we are also fully aware of the challenges that lie ahead that will require us to improve the future and the present with new opportunities, less grey economy, more creative industry. The new and old economy are coming head on and as you said, dear Mr. Shrob, in your book, The Fourth Industrial Revolution, the question of youth has become more than ever crucial in any consistent and inclusive development project in the image of what Morocco wishes to develop by 2035 by creating stronger links between economics and social aspects with as a guiding thread the environmental transition, which has become so very necessary. And this ambition, of course, poses many questions. How can the market release its creative energy while also protecting our countries from a new major crisis? These are the great challenges we're facing. We must streamline things for the economy, but we must also remain very vigilant in the face of risks that emerge from the new economy. I think the lesson to be drawn from this is that the world is no longer a well to be dominated, it is a well to be shared. That is what Morocco is striving for, an inclusive and sustainable society driven by the vision of His Majesty Mohammed VI, who is calling for an equal partnership with our various partners. And again, let me state my consideration, availability, as His Majesty's government members all are. And let me assure you that we are deeply committed to work with you in your investments through the acceleration of reforms, the continuous improvement of our investments, of your investments to create value together. Many thanks. Mr. Head of Government, I think we are all impressed by this project in Morocco, these reform plans. They are not just plans, they are delivering results that are already very visible. I am very happy that we now have time for a few questions. And I am sure you have already touched upon some of these points in your speech. But let me ask you, last year, Morocco entered the continental free trade area, the African free trade area, and I now believe that there are more than around 50 members now, and it is the largest free trade agreement in the world. What prospects do you envision with this new area, the capital? You talked about Africa more broadly in your speech. What do you think the true meaning of this free trade agreement is? Morocco truly believes in a positive future for Africa. Africa can feed the world in future if farming investments are made. Morocco has vast human resources. It is a very large market. Africa trades with the rest of the world, 60%, and intra-African trade is only 16%. This free trade area is a fantastic initiative, a transformative initiative for Africa to boost investment and trade. And I believe that Africa's potential, and in fact the importance that we grant to the continent, with His Majesty the King, more than 50 state visits in 50 African nations, and African nations, more than a thousand agreements were also signed, and that positions Morocco as one of the greatest investors in Africa, notably West Africa. Africa has huge potential for the future, and the free trade area will be a watershed moment in Africa's growth. Mr. Head of Government, usually countries or in general countries find it very hard to reach the targets of the Paris Accords in reducing the temperature by 1.5 degrees. But Morocco, I think, is on the right path. What is your secret? Because you are an exception. Well, Morocco, just after its independence, His Majesty King Hassan II had already started a very ambitious dam-building policy, making hydropower very important in our country. There were adjustments after that with the desertification, but there was acceleration, thanks to King Mohammed VI, with a plan that imposed, that asked the various governments to invest in wind and solar power. We have now reached 38% in our energy mix from green energy, and the target set by His Majesty the King, and for which we're working on, is by 2030 to reach 50 or 52% of renewables in the energy mix. It is possible. First, because Morocco is very favourable to renewables, 3,000 hours of sunshine in Morocco. The sun is about 5 kilowatt hours per square metre. It's one of the places in the world where we can have an offering, where producing energy also through the speed and constancy of winds in Morocco, that will provide some of the cheapest renewables in the world for renewable power production. And then the government is also working, under the guidance of the sovereign, to develop an offering, an offering for power, a comprehensive offering, and we're going to try to find something to find God willing. Mr. Head of Government, you have been very successful in attracting foreign businesses, Oracle, Renault, Opal, and so on. You mentioned in your speech the importance of the fourth industrial revolution. What does that imply to attract foreign investments? Are you aiming to become a supplier of high technology in semiconductors, for instance? What is your vision of Morocco in terms of production? I believe that the most important thing is to set up a secure and framework for investors with great visibility. An investment charter has just been passed by parliament to provide visibility to encourage investment in Moroccan communities in the interests of sustainable development and employment. And there will be strong government support for these investments. There are multiple sectors. I named a few. Aerospace, the automotive industry, agriculture. Morocco has an agricultural green generation development plan, the transformation of fish and seafoods, electronics. When all of this fits and furthers the interests of sustainable development and job creation, well, Morocco will support these initiatives. First of all, through a powerful decentralization, regionalization so that decisions can be taken in the field to facilitate investment, but also to try and identify and pinpoint processes where investments can be made easier. Mr. Head of Government, Morocco was very good compared to other countries in managing the COVID crisis. It did very well. What could you tell us about that? What were the key learnings of your experience? During the COVID pandemic, His Majesty the King asked for appeal to the generosity of our people. We managed to collect around $3 billion, which helped to support the local population, which, of course, was finding that period very difficult. Factories were shut down, but also to work in fighting the disease itself, because $1.5 billion was dedicated to the consequences of COVID. It was an opportunity which we managed to seize. Major investments will be made in healthcare with the local manufacturing of vaccines, up to $1 billion a year that can be exported elsewhere in Africa, but also through our healthcare system. Our new legislation is deeply modifying our models of governance so that we can improve patient pathways, provincially, regionally or locally, and also increase investments in human resources and, notably, doctors. The whole world needs these types of developments, and we too are fighting to better train, to train more, and to try to retain our physicians by making their careers more attractive. And therefore, what took place with COVID generated opportunities for us to transform our healthcare sector. Mr. Head of Government has certainly many people in this room. I followed, with great interest, the World Cup. And, of course, we were all deeply impressed by Morocco's national football team. It's a symbol of what you were talking about in your speech and in your answers to our questions, because I think you were the very first African and Arab world team to qualify for the World Cup semi-finals. What do you think that means for Morocco? First of all, it is true that we were ourselves surprised. Morocco has always had a great football team. It's not by chance. There's been a lot of investment, a lot of supervision followed very closely by our sovereign. We have training schools, which we have professionalized nationally, notably the school that bears the name of His Majesty Mohammed VI, with some great players who play in some of the world's greatest clubs. So we had a good team. But in all of these games, there were multiple games, because, of course, the players were truly engaged with the fighting spirit. They went out there to win, to succeed. There was really this very strong determination to win, but all of that was done joyfully. They listened to the public. You know, every time Morocco would win a match, there were at least a million people in the streets of Morocco celebrating our victory. And that exchange was extremely important to us. And it truly expressed values of engagement, of solidarity, but also values of the relationship that we have with our mothers, with our wives. And it really showed how important women are in our society. There was not a single game that ended with the players going to embrace their mothers or their wives to share that victory with them. It was a fantastic moment for Morocco. And I think it really expresses values that all businesses and states wish to express. But what we felt deep in our hearts during that World Cup was that there was great sympathy for our national team, and many thanks for your sympathy. Well, Mr. Head of Government, I think we would all like to wish you, on behalf of all of our participants, to wish you every success and victories that are as great as the victories you have obtained in football, in your energy transition program, in your education program, which you mentioned too, and also in your industrialization process. So many thanks to you for attending this annual meeting in Davos. And we wish you all the best.