Morocco fared well (3rd in Africa) in Ernst & Young’s most recent report on investing in Africa, due to strategic support for foreign investments and economic development:
Morocco is once again doing better than its neighbors Algeria, Tunisia and Libya which have fallen out of the rankings. This can be explained by a sharp increase among the French companies which have exceeded their Spanish rivals to become leaders in the Moroccan market, in addition to financial services, the main drivers of this foreign investment in Morocco, which “benefits from its historic ties with the kingdom and proximity of Western Europe”, the study notes.
The study also highlights the “proactive approach” by Morocco in terms of foreign investment, due to the fact that it offers “availability of skilled workers, at lower wages than in the international market”.
Added to this, a “stable” business environment, combined with good air connections to many other African countries and the progress of Moroccan banks in Africa. Royal Air Morocco serves over 30 major African cities, said the study, according to which the Kingdom “is positioned as a bridge” between a “fast growing” Africa and two great poles of the global economy; USA and Europe…[FULL STORY]