In order to encourage investment and improve competitiveness within companies, the Moroccan Government has just adopted a new legal regime, aimed at reducing the Corporate Tax rate in stages.
Morocco is safer for tourists than France, Germany and the United Kingdom, according to the ranking on tourism competitiveness by the World Economic Forum and the World Bank.
Moroccan exports recorded a 10.6% increase last year, compared to 10.3% in 2017, which indicates an average annual increase of 4.3% over the 2008-2014 period. This performance, noted in the Economic and Financial Report, has improved Morocco’s share in the global market.
In the coming months, a reduction in the marginal Corporate Income Tax (CIT) rate, from 31% to 28%, for industrial companies on their domestic turnover, could be applied. This is suggested by the 2020 Finance Bill (PLF).
Thanks to the signing of an alliance agreement with the Moroccan group, Derhem holding, the Spanish oil company, Cepsa, is establishing itself in Morocco. A total of 100 service stations will be opened in the Kingdom over the next five years.
The easing of the exchange rate regime aims to absorb external shocks, in particular a surge in oil prices, and to strengthen the competitiveness of Morocco.
For the month of September just passed, the dirham appreciated by 0.06% against the euro and depreciated by 0.92% against the US dollar. This is according to Bank Al Maghrib (BAM).
Despite its stagnation in the 2019 ranking of the World Economic Forum (WEF), Morocco manages to hold its own by showing a slight improvement. Its financial system and inflation control, as well as infrastructure, allow the Kingdom to slightly improve its score. Security is also one of its strengths.
Morocco ranks 66th out of 140 countries, thus falling back one place in the Global Index established by the World Economic Forum (WEF). This is revealed by the 2019 Global Travel and Tourism Competitiveness Ranking, which also indicates that the kingdom nevertheless shows better scores at the regional level, in certain sub-indices.
The customs services have announced several changes that will come into effect as of October 1, 2019.
Morocco is not featured in the Shanghai ranking of the 1,000 best universities in the world. For the 2019 edition, no university in the Kingdom is included in the ranking of this benchmark ranking.
Moroccan investments abroad have increased by 68.1% in the first half, reaching 4.2 billion dirhams (444 million dollars) at the end of June, according to the latest figures published by the Office of Foreign Exchange.