WHY MOROCCO ?

WHY MOROCCO ?
As a potential investor, you may ask yourself what makes Morocco a better place than the myriad of other countries seeking foreign investment. Morocco welcomes and is open to the outside world thanks to its liberal economy and geostrategic position. The unprecedented gathering of high-ranking statesmen, corporate leaders and experts of the Middle East/ North Africa Economic Summit held in Casablanca further reinforces the country's global status.among the many investment opportunities discussed in detail in this document, the following key facts are essential:

POLITICAL STABILITY
Morocco has emerged as an oasis of peace and stability in the region. His Majesty King Hassan II has kept his country on a steady course of development in the face of turbulent regional policies and maintained the democratization process in the country. Parliamentary elections were held in1993, setting the stage for a more representative form of government. the opposition parties play an increasingly active part in Morocco's politics. Morocco established liaison offices in both Israel and Gaza and participates actively in the ongoing peace process in the Middle East,

A Favorale Economic Climate
In a unique move in the African continent,Morocco has implemented structural reforms while maintaining a single digit annual inflation rate, improving fiscal discipline and achieving growth rates in line with the country's production capacity. these changes have not gone unnoticed. net equity investment reached US$ 541million in 1995.world class institutional investors are willing to invest in Morocco's equity markets as the they view Morocco as one of the emerging s in the world today.

Strategic Geographical Advantage
Situated only 12 miles from Spain at the extreme north-west point of Africa, Morocco is a natural bridge between Western and Islamic worlds. no country was more qualified to be selected as the place where 124 countries- rich and poor- signed the GATT agreement, moreover, Morocco is rich in resources and offers competitive labour rates.

An Ambitious Privatisation Program
The kingdom is pursuing an aggressive privatisation program. since sales began in 1993, the program has sold twenty seven firms and eighteen hotels raising $ 1.4 billion in revenue and new investments. the privatisation are taking place through a mixture of open tenders, public issues, through the stock exchange open to all investors, and trade sales. In one of the largest sell-offs, a consortium of local and foreign buyers took a controlling interest in the national investment company (SNI), a diversified financial holding. about 60 firms still remain to be sold; many of them will interest foreign investors. the program's early successes have paved the way for a larger round of transfers. Morocco's parliament has been willing to put more and bigger firms on sale. in early 1995, it added two oil refineries to the privatization list. ]3oth are already listed on the Casablanca stock, exchange and a tender is in progress for reference shareholders. in addition, plans are being made for privatization in sectors such as telecommunications, water supply and energy.

A Revitalized Stock Exchange
The effective privatization program, increasing interest from domestic and foreign investors, and the start of a local mutual fund industry have been catalysts for the strong performance of Morocco's stock market. capitalization of the Casablanca stock exchange increased more than 6 times from 1990 through 1995.
Throughout its past, Morocco has always maintained an open minded spirit in the conduct of its foreign relations, a policy that rests upon dialogue and tolerance, pillars of peace and prosperity in the world .

After many decades of conducting a liberal economic policy, Morocco's network of commercial partners in the four corners of the globe is widespread and makes Morocco more than ever an active player in the development of international trade.
It is then, no coincidence, that the creation of the world trade organisation took place in morocco in April 1994, at a time when the GATT conference consolidated the most important multilateral commercial agreement ever : the final act of the Uruguay round.
while maintaining a high profile on the international scene, the kingdom of Morocco remains highly involved at the regional level. the middle east and north African economic summit held in Casablanca from October 31 to November 1, 1994 is a clear example of the invigorated vision given to peace in the area through the initiation of partnership and diplomacy. both the spirit and the energy of the Casablanca summit were designed through the efforts of political and economic leaders to foster a just and durable peace. the Amman and the Cairo conferences were conceived in the spirit of continuity and coherence to the Casablanca summit.
The Kingdom of Morocco confirms its convictions and pursues its initiative to achieve peace and prosperity in the area and in the world, thereby making itself the perfect choice.