Morocco moves further up in doing business index
Morocco improved its ranking jumping 7 spots in the World Bank’s 2020 Doing Business report to take the 53rd place amid 190 countries.
According to the report, Morocco is the country offering the best business climate in North Africa ahead of Tunisia (78th), Egypt, Mauritania and Libya.
Morocco’s closest neighbor, oil-rich Algeria, continued to lag behind in the 167th position.
In Africa, only Mauritius (13th) and Rwanda (38th) outperformed Morocco which however came ahead of South Africa and Nigeria, the top two economic heavyweights in the continent.
Doing Business 2020 assesses the business environment in 190 countries using indicators to estimate an ease of doing business. The study looks at rules affecting a business from inception through operation to wind-down: starting a business, dealing with construction permits, getting electricity, registering property, getting credit, protecting minority investors, paying taxes, trading across borders, enforcing contracts, and resolving insolvency.
The report highlights Morocco’s headway in “dealing with construction permits easier by improving its online platform and further streamlining the process, making it possible to apply for and obtain certificates of conformity online».
The North African country also stood out in terms of tax reduction and promoting e-payment at ports as well as streamlining paperless customs clearance, and extending port hours of operation.
Royal impetus
Morocco has adopted a strategy to improve its business climate and set the target of taking the 50th place in the Doing Business ranking by facilitating investments.
The King has on multiple occasions urged the executive to ensure that conditions are facilitated for launching business in the country.
In a message to participants at an international conference on the justice system earlier this week, the Moroccan monarch underscore the need for putting in place a legislation propitious for investments stressing on the need for appropriate legal and economic guarantees that ensure confidence in the judicial system and provide full security for investors.
The King urged the adoption of mechanisms for the settlement of investment disputes at the national and international levels as well as “alternative judicial approaches such as mediation, arbitration and conciliation”.
In response to urgent requests from investors, the King also called for simplifying and speeding up administrative and judicial procedures.
“These endeavors have led to an increase in the investments attracted by the Kingdom as well as to an improvement in my country’s ranking in the Doing Business Index 2019,” the King said.
“We look forward to moving further up the Doing Business Index and improve Morocco’s position so that it may feature among the top 50 countries in the world in terms of the quality of the business environment,” he said.
