Washington – The reforms spurred by HM King Mohammed VI since his enthronement consolidated the foundations of Morocco’s economy as well as its business climate in a context of political stability that made the Kingdom an attractive destination for foreign investors, said US-based experts and specialists on North Africa.
The growth rate in Morocco stood at 4.3% in 2011, “one of the highest performances in the MENA region,” added Khan who served as Director of the Middle East and Central Asia Department of the International Monetary Fund (IMF).
He highlighted the sovereign forward looking vision in implementing social anticipatory reforms before the Arab Spring. In this respect, he shed light on the launch by HM the King of the National Initiative for Human Development (INDH) which benefited the needy across Morocco.
The World Bank’s decision to grant a loan of 300 million dollars to fund the second phase of the INDH stresses the soundness of the social and economic reforms initiated by HM the King, added Khan.
Echoing him, Geoffery Porter, Head of a consulting company on North Africa, underscored the diversification marking the Moroccan economy and the unmatched transparency of its banking industry in the region.
Porter recalled that Morocco signed Free Trade Agreements with several countries, including the US in 2006.
He said that the FTA with the US may enable Morocco to serve as a hub to US companies that aim at conquering new markets in Africa and the Middle East.
Thanks to its political stability, Morocco showed its capacity to sidestep the global financial crisis and the current financial crisis that is hitting Europe, Economic expert Mohsin Khan of the Atlantic Council told MAP.
