The Kingdom of Morocco offers many advantages to foreign investors and entrepreneurs. A popular tourist destination, Morocco is home to magnificent landscapes, warm weather and beautifully preserved architecture and culture. Morocco’s strong tourist industry and flourishing economy is attracting an increasing number of companies doing business in Morocco. Below are some of the key benefits of doing business in Morocco.
Proactive Business Climate
With the help of international organisations such as the IMF and the World Bank, Morocco has worked hard to develop its economy over the last few years. The country is now open to the international market and is a major trade partner for France and Spain. Morocco’s GDP steadily rose by almost 4.5% every year since 2000 which is a better result than most European countries. Telecommunications and other IT infrastructures are developing fast and the network in major cities is composed of almost 100% fibre optics links, giving Morocco a modern and innovative edge.
Morocco shares borders with Algeria, the Western Sahara and the Northern Atlantic Ocean. Morocco’s north coast is on the Mediterranean Sea, a short distance from Spain and France making it easier to access Europe. With approximately 1,835 kilometres (CIA Factbook) of coastline, Morocco is a great location for transnational merchandise fleet. Morocco counts 24 ports which manage for 98% of the country’s external trade.
Increasingly Educated Workforces
King Mohammed VI and his government have made education one of their priorities and deployed strategies to modernise and enhance the quality of education since 2005. Morocco counts several high ranked universities which have developed key partnerships with Canada and European schools. These improvements in the education field create new business opportunities for foreign investors as there is now a more skilled workforce they can rely on when setting up business operations or outsourcing activities to Morocco.
Since the country achieved its independence from France in 1954, Morocco has experienced a long period of peace and stability. Successive administrations since have focused on developing the economy and the welfare of Morocco and its citizens. This stability is reassuring for foreign investors as there is less risk of their investments being jeopardised by a military coup, riots or political uproar.
These benefits of doing business in Morocco as well as many others mean that global organisations can take advantage of this fast developing and ideally located country. Harnessing the benefits, however, requires an understanding of the cultural differences and their impact on the professional environment in Morocco. Communicaid’s cross cultural training programmes such as Living and Working in Morocco or Doing Business in Morocco can help you to adapt quickly to Moroccan business and social culture and allow you to take advantage of the benefits of doing business in Morocco.
© Communicaid Group Ltd. 2010