Morocco

Last updated: February 12, 2020

The Kingdom of Morocco is a country with enormous economic potential. It is located on the Mediterranean and the Atlantic coast in northwest Africa and is therefore the gateway to the African market for goods traffic from America and Europe. The capital is Rabat on the western Atlantic coast. The economic center is Casablanca. Morocco has almost 36 million inhabitants.

Head of State SM King Mohammed VI. has initiated a transformation through political reforms and the path of economic liberalization since he ascended the throne in 1999. Thanks to a constitutional reform in 2011, the king always appoints the leader of the strongest parliamentary group as prime minister after the parliamentary elections. Saadeddine Othmani has been running the government since March 2017.

The economic dynamism can be seen in Morocco’s GDP growth from almost 38 billion US dollars in 2000 to 110.7 billion US dollars in 2017. This enormous economic success has been despite the outbreak of the global financial crisis in 2008 and the political upheavals in the region since 2011 achieved. Investors benefit from stable exchange rates and relatively moderate inflation rates.

Tourism is a booming industry. Furthermore, the agricultural sector, in which almost 40 percent of all jobs can still be found today, is of vital importance. State structural programs support it with the aim of creating sustainable and environmentally conscious agriculture. The country’s infrastructure is constantly being expanded. There are ultra-modern universities such as the Mid-Park with research facilities for nanotechnology and microelectronics. Economically speaking, a modern transport and telecommunications infrastructure, low production costs and proximity to the main European market speak for Morocco. In addition, investment incentives and tax advantages attract the automotive industry (assembly, supply), aeronautics and call centers. In 2019 there were again simplifications for setting up a business. The 2020 published by the World BankThe Doing Business Index  – which measures the business climate and corporate regulation – now ranks 53rd in the world thanks to the steady improvement. Furthermore, the expansion of renewable energies is flourishing.