London – Morocco has, for some time, seen a significant amount of growth when it comes to the presence of international firms in the country, buoyed by an upcoming financial draft law expected to turn the Kingdom into “the financial centre of Africa,” wrote on Monday the British website The Lawyer.
“Morocco has long been the most developed legal market in North Africa,” noted the portal, pointing to the increase of the presence of international firms in the country over the past years.
In July 2011 Norton Rose, Clifford Chance and Allen & Overy (A&O) announced the opening of their offices in Casablanca. In March, Eversheds added Morocco to its expanding international network through a cooperation agreement that is expected to develop into a Casablanca office in the future.
According to CMS Bureau Francis Lefebvre Morocco co-director Wilfried Le Bihan other companies “will follow the path” which opted for Morocco to do business.
Morocco, he added, “is a gateway to Africa,” which makes any potential player “confident in the fact that this is a good market.”
“The good thing is that [the arrival of firms] will help the market become more structured,” said A&O partner Hicham Naciri, adding that “competition will be tougher for certain firms.”
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