Morocco - Economic analysis of government's policies, investment climate and political risk.

THE

McKEEVER INSTITUTE

OF

ECONOMIC POLICY

ANALYSIS

MOROCCO: Economic Policy Analysis

This site presents an analysis of the Moroccan government's economic policies compared to a revised list of 34 economic policies as prepared by two student with the McKeever Institute of Economic Policy Analysis (MIEPA) in May of 2004. To read the analysis scroll through this site. To learn more about the background policies, click here Introduction and Policy Recommendations

To learn more about MIEPA, click here Return to MIEPA's Home Page

N. S. and S. B., two Moroccan citizens who currently [May 2004] live in California, has completed a study of their home country government's economic policies as compared to the MIEPA list of policies as outlined above. The study on Morocco is shown below. The ratings herein are based on the following rating scale:

RATING SCALE

5.0 Perfect Facilitation of Wealth Creation
4.0 Midway between Perfect and Neutral
3.0 Neutral Effect on Wealth Creation
2.0 Midway between Neutral and Obstructionist
1.0 Perfectly Obstructionist to Wealth Creation
[Rating scale copyright Mike P. McKeever, 1996. Used herein with permission]

To read a disclaimer about the analysis in this file, scroll to the bottom of the file.

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MOROCCO:

Comparison of Morocco's economic policies to MIEPA criteria as prepared by two native students of Morocco studying in the US in May of 2004.

The first study shown is the study prepared by student S.B. The second study shown is prepared by student N.S. To read the second study, scroll down this page until reaching the second report.

RATING SUMMARY: FIRST STUDY BY S.B.

POLICY NUMBER      RAW SCORE   ADJUSTED SCORE    POSSIBLE   PERCENTAGE

        1               3.0           9.0             15.0        60%

        2               2.5           7.5             15.0        50

        3               2.0           6.0             15.0        40

        4               3.8          11.4             15.0        76

        5               4.0          12.0             15.0        80

        6               3.5          10.5             15.0        70

        7               3.5          10.5             15.0        70

        8               2.0           6.0             15.0        40

        9               2.5           7.5             15.0        50

        10              5.0          15.0             15.0       100

        11              4.0          12.0             15.0        80

        12              2.0           4.0             10.0        40

        13              4.0           8.0             10.0        80

        14              4.0           8.0             10.0        80

        15              3.0           6.0             10.0        60

        16              2.0           4.0             10.0        40

        17              3.5           7.0             10.0        70

        18              3.5           7.0             10.0        70

        19              3.0           6.0             10.0        60

        20              4.5           9.0             10.0        90

        21              4.0           8.0             10.0        80

        22              3.0           6.0             10.0        60

        23              3.0           6.0             10.0        60

        24              3.0           6.0             10.0        60

        25              3.0           6.0             10.0        60

        26              3.5           7.0             10.0        70

        27              3.0           6.0             10.0        60

        28              4.0           8.0             10.0        80

        29              2.5           2.5              5.0        50 

        30              3.5           3.5              5.0        70

        31              5.0           5.0              5.0       100

        32              3.5           3.5              5.0        70

        33              3.5           3.5              5.0        70

        34              2.0           2.0              5.0        40

   TOTAL              111.8         239.4            375.0        63.8%
                      =====        ======            =====        =====

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INDIVIDUAL POLICIES

1. Freedom from internal control: 3.0

The Constitution provides for freedom of movement; however, the Government restricted this right in certain areas. The Gendarmerie maintained checkpoints throughout the country, at which drivers' licenses and vehicle registrations were examined for validity. In the Moroccan-administered Western Sahara, authorities restricted movement in areas regarded as militarily sensitive.

The Ministry of Interior restricted freedom to travel outside the country in certain circumstances. In addition, all civil servants and military personnel must obtain written permission from their ministries to leave the country. The OMDH and AMDH compiled lists of individuals who reportedly were denied passports or who had passports but were denied permission to travel. The OMDH contended that the Government, in resorting to arbitrary administrative delays, continued to harass former political prisoners who sought to resume normal lives.

Sources: http://www.state.gov/g/drl/rls/hrrpt/2002/18284.html

2. Freedom of speech: 2.5

The Constitution provides for freedom of expression; however, the law permits prison sentences and financial penalties for journalists and publishers who violate its restrictions on defamation, libel and discussion regarding three topics: The Monarchy; territorial integrity; and Islam. The Press Code lists threats to "public order" as one of the criteria for the censor to consider. Within these limits, newspapers and weeklies were published across the political spectrum and were sometimes critical of government policies.

Government control of the media generally was exercised through directives and "guidance" from the Ministry of Interior. Publications that were judged offensive could be confiscated or indefinitely suspended. The Government may censor newspapers directly by ordering them not to report on specific items or events. The Government registered and licensed domestic newspapers and journals and could use the licensing process to prevent the publication of materials that exceeded its threshold of tolerable dissent. The Ministry of Interior could control foreign publications by removing "banned" publications from circulation.

Sources: http://www.state.gov/g/drl/rls/hrrpt/2002/18284.html

3. Effective, fair police force: 2.0

There is two kind of police force in Morocco. Regular police in the urban area and (la gendarmerie) in rural area they both work effitiently by solving many crimes despite the very low crime-rate in the country . But unfortunatly bribery can be a way to avoid minor violation such as moving-violation.

Sources: personal

4. Currency: 3.8

The basic unit of money in Morocco is Dirham; equal to 100 centimes

(5/10/04) U.S. Dollar / Moroccan Dirham 0.1090 0.1098 Moroccan Dirham / U.S. Dollar 9.1752 9.1091

The Moroccan dirham is the latest currency to join the Export-Import Bank of the United States (Ex-Im Bank) foreign currency guarantee program

Sources: http://www.corporateinformation.com

5. Commercial banks: 4.0

There is no clear-cut distinction between commercial and merchant banks. By and large, all commercial banks provide commercial and saving services, with merchant banking as an accessory service. The four largest commercial banks are: Credit Populair du Maroc (or Banque Populaire), Banque Commerciale du Maroc, Banque Marocaine du Commerce Exterieur and Wafabank. Moroccan banks offer a broad range of regular banking services, including depository services and trade and credit services. Several banks now offer electronic banking services for corporate clients and a wide array of consumer banking facilities such as credit cards, ATMs and telephone banking services. Most banks are linked to the SWIFT global payment system, enabling them to quickly execute foreign currency and convertible MDh transactions to non-residents, including transactions involving the repatriation of earnings of foreign companies. Moroccan banks, however, are still not in the position of offering a complete spectrum of modern services in terms of foreign exchange, money and capital markets and corporate finance activities. In order to ameliorate this situation, the Moroccan monetary authorities are working on regulatory changes which would promote additional modernization of the industry

Sources: http://www.infoprod.co.il/country/morocc2c.html

6. Communication system: 3.5

Communications: Telephones: main lines in use: 1.391 million (1998); mobile cellular: 116,645 (1998). Radio broadcast stations: AM 27, FM 25, shortwave 6 (1998). Radios: 6.64 million (1997). Television broadcast stations: 35 (plus 66 repeaters) (1995). Televisions: 3.1 million (1997). Internet Service Providers (ISPs): 8 (2000). Internet users: 400,000 (2002).

Sources: http://www.infoplease.com/ipa/A0107800.html

7. Transportation: 3.5

Railways: total: 1,907 km standard gauge: 1,907 km 1.435-m gauge (1,003 km electrified; 540 km double track)

Highways: total: 57,847 km paved: 30,254 km (including 327 km of expressways) unpaved: 27,593 km (1998 est.)

Pipelines: crude oil 362 km; petroleum products 491 km (abandoned); natural gas 241 km

Ports and harbors: Agadir, El Jadida, Casablanca, El Jorf Lasfar, Kenitra, Mohammedia, Nador, Rabat, Safi, Tangier; also Spanish-controlled Ceuta and Melilla

Airports: 70 (1999 est.)

Morocco has a pretty good transportation system that can get you anywhere in the country.

Sources: http://www.cia.gov/cia/publications/factbook/geos/mo.html.

8. Education: 2.0

The Moroccan government's keen interest in education is reflected in the amount of investments alloted to that sector. 26.3% of the general budget is earmarked for education .the educational system has undergone several reforms meant to reduce regional differences and ensure the dissemination of education. In 1963, education became compulsory for Moroccan boys and girls aged 7 and 13.

Sources: http://www.mincom.gov.ma/english/generalities/educatio/educatio.html

9. Social mobility: 2.5

In Morocco today, around 20% of a population of 30 million live in poverty,10% are in sheer misery and 30 per cent (mostly the young and the elderly) are classified as vulnerable. Around 56 per cent of the population are illiterate and only 18 per cent of women can read and write.

Unemployment is around 20% and job creation cannot keep up with the increasing number of job seekers. The educational system, which has been turning out more and more unemployed graduates, is ailing and in need of a major overhaul. Income disparities have worsened in recent years and the gap between the higher and the lower incomes is immense. Disparities between rural and urban incomes and living standards are critical. Among the rura1 population, 63% have no water, 87% are without electricity, 93% have no access to health services and 65% are illiterate.

Sources: http://arabworld.nitle.org

10. Freedom from outside control: 5.0

Moroccan citizen are subject to obey the national law, but could never be arrested by a foreign task force unless the approval of the moroccan government.(since Morocco belongs to many organization like interpol)

Sources: Personal

11. Foreign currency transactions: 4.0

All transactions have to be made in Moroccan Dirham. The Moroccan government has made the Moroccan Dirham (MDh) convertible for an increasing number of transactions over the last few years. As of February 1993, the MDh was made convertible for all current transactions and for some capital transactions, notably, capital repatriation by foreign investors. Foreign exchange is routinely available through commercial banks for such transactions upon presentation of documents. The Central Bank sets the exchanrate for the MDh against a basket of currencies of its principal trading partners. The rate against the basket has been steady since a 9% devaluation in May 1990, with changes in the rate of individual currencies reflecting changes in cross-rates. In a further move, the Ministry of Finance recently decided that private enterprises are allowed to access international financial markets directly.International financial transactions are subject to the control of the Moroccan Exchange Office, which retains the authority to act in a balance of payments or liquidity crisis.

Sources: http://www.infoprod.co.il/country/morocc2c.html

12. Border control: 2.0

Because of its important location-Morocco lies directly across the Strait of Gibraltar from Spain. It borders Algeria to the east and southeast, Western Sahara to the south, the Atlantic Ocean to the west, and the Mediterranean Sea to the north. It is the only African country with coastal exposure to both the Atlantic Ocean and the Mediterranean Sea. With the Western hemisphere- faces major problems such illegal immigration and drug smuggling.

Sources: personal

13. Cultural, language homogeneity: 4.0

The official language is Arabic but French is the dominant business language in central and southern Morocco and something you can get along with about anywhere. Spanish is often spoken in the north. English is fairly widely spoken. The Berber languages, once dominant throughout Morocco, have declined in importance, and in the early 1990s about 25% of the people used Berber as their first language. In the rural areas there is complete cultural homogeneity, exept in the biggest cities where diversity can be found.

Sources: http://www.arab.de/arabinfo/morocco.html

14. Political effectiveness: 4.0

Since the government is promoting privatization. The govenment is trying to avoid any responsability of companies failure.The government is also helping big investors in differents way such as tax break in order to establish a steady economic growth.

Sources: personal

15. Institutional stability: 3.0

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.

Sources: http://www.mincom.gov.ma

16. Honest government: 2.0

The second half of the 1990s witnessed a surge of interest in corruption, which is defined here as the abuse of public office for private gain. Pervasive, systemic corruption has now been identified as a major impediment to sustainable development. It is increasingly recognized, in particular, that countries engaged in a transition to democracy and market economics will be unable to consolidate and build on the gains they have already made unless they also show themselves capable of containing the corruption that undermines public trust and confidence in the new institutions, deters foreign investors, and thwarts private-sector expansion. The Moroccan government took the necessary measure,to fight corruption and called for devising a strategy to fight it that botches development efforts in Morocco.

Sources: personal,http://www.transparency.org/toolkits/2001/ar-ed_ac-day.html

17. Common law: 3.5

There are six components to the Moroccan judicial system. The majority of legal matters fall within the jurisdiction of Regional Tribunals, which decide cases of personal property damages. Such judgments, excluding minor offenses punishable by a small fine, may be appealed to the Court of Appeals. The Court of Appeals also has a separate civil and criminal division. Despite previous announcements, the new Commerce Law, passed on May 18, 1996, did not establish special commercial courts. Courts of First Instance adjudicate crimes punishable by up to five years imprisonment and civil, personal status, or commercial cases. Monetary judgments of small amounts are not subject to appeal.

The decisions of all courts and tribunals may be reviewed by the Supreme Court. There is also the High Court of Justice that has jurisdiction over criminal and felonious matters allegedly committed by government officials. In addition, there are specialized Labor Tribunals which settle disputes by means of conciliation.

The accuracy of the judicial system works the same throughout the country.

Sources: http://www.infoprod.co.il/country/morocc2a.html

18. Central bank: 3.5

Shortly,after the independence of Morocco in 1956, the foundations of the national banking system were then implemented. the « Banque du Maroc » (Bank of Morocco) was established in 1959 to replace the « Banque d’Etat du Maroc » and to ensure the functions of a Central Bank. It was created as a state-owned institution with legal personality and financial autonomy, entrusted with the privilege of issuing banknotes and coins, and the mission of safeguarding the stability of the currency as well as preserving the soundness of the banking system. On March 1987, the denomination of « Banque du Maroc » was replaced by « Bank Al-Maghrib ».

Sources: http://www.bkam.ma.html

19. Domestic budget management: 3.0

Morocco, like many other countries, treats its public land and real estate holdings as public goods, rather than productive assets capable of producing a mix of significant returns and social benefits if properly managed. Land and real estate typically represent 25 to 50% of public entities’ assets. The replacement cost of the buildings of the ministries of health, education and higher education alone amount to over 9% of GDP.

Sources: http://lnweb18.worldbank.org

20. Government debt: 4.5

Through a foreign exchange rate anchor and well-managed monetary policy, Morocco has held inflation rates to industrial country levels over the past decade. Inflation in 2000 and 2001 were below 2.5%. Despite criticism among exporters that the dirham has become badly overvalued, the current account deficit remains modest. Foreign exchange reserves are strong, with more than $7 billion in reserves, the equivalent of 11 months of imports at the end of 2001. The combination of strong foreign exchange reserves and active external debt management gives Morocco ample capacity to service its debt. Current external debt stands at about $13.9 billion or about 30% of GDP.

Sources: http://www.state.gov/r/pa/ei/bgn/5431.html

21. Private property: 4.0

In Morocco there is a complex system to acquire property, which prevent all kind of forgery. In order to obtain a title of property a moroccan citizen has to provide many documents prooving his ownership to the property.

Sources: personal

22. Economic statistics: 3.0

Since the number of internet users are still very low , Moroccan citizen rely on a large diverse newspaper as a source of economic statistics.

23. Protection of public health and safety: 3.0

Health services are fairly well developed in Morocco’s cities, but health conditions in rural areas remain poor. The government provides for social security benefits. The country had on average 1 physician for every 2,174 inhabitants and 1 hospital bed for every 1,020 inhabitants in 1997.

Sources: http://encarta.msn.com/encyclopedia_761572952_4/Morocco.html

24. High wages policies: 3.0

There are no legislated wage controls in Morocco other than the minimum wage. Therefore, wages and salaries can be freely contracted between employees and employers. Apart from agreed pay increases, an indexing system enables the government to raise by decree all wages and salaries effectively paid when the Central Commission for Prices and Wages records an increase of aleast 5% in the cost of living. Wages, whatever the method of remuneration (time rates, piece rates or job rates) must be paid at least twice a month, at a maximum of sixteen days' interval. Salaries must be paid at least once a month.

Sources: http://www.infoprod.co.il/country/morocc2h.html

25. Environmental Protection: 3.0

Morocco faces various environmental problems, including several arising from natural hazards. The main difficulties arise from Morocco's dependency on water and the economy's vulnerability to climatic change. Morocco is now defined as a "water-stressed" country. Per capita supplies and water quality are declining, rural areas are poorly served with water, and there are substantial losses in both irrigation (which currently accounts for 85 percent of water use) and drinking water systems in urban areas. In addition, the country suffers from oil pollution of its coastal waters. In attempting to solve these difficulties, Morocco has made some progress toward defining a national environmental action plan, but overall institutional awareness and coordination are weak. Morocco is, however, a party to various international agreements regarding environmental protection issues such as biodiversity, climate change, endangered species, marine dumping, marine life conservation, nuclear test ban, ozone layer protection, protection of world cultural and natural heritage and the protection of the wetlands. It has also signed agreements for the establishment of a General Fisheries Council for the Mediterranean and of a Commission for Controlling the Desert Locust in the Near East. In addition, Morocco has signed but not ratified further agreements on desertification, environmental modification and the law of the sea. Some exemption from taxes and other duties have been made available for persons and entities promoting or implementing environmental protection.

Sources: http://www.infoprod.co.il/country/morocc2i.html

26. Strong Army: 3.5

Moroccan Army known as Royal Armed Forces (includes Army, Navy, Air Force), Gendarmerie, Auxiliary Forces .

The Moroccan Army has 125,000 troops, including about 75,000 conscripts. It is organized into two Commands, a Northern Zone and a Southern Zone. Reserves are estimated at 150,000; in terms of effectives this figure may be too high. Some of the battalions listed as independent may be part of the brigades. The number of artillery pieces given by the Jaffee Center is much too high relative to the number of artillery units. Half the artillery total consists of 120mm mortars, we assume the Moroccan Army follows usual practice and classifies them as artillery rather than as infantry support weapons.

Military expenditures - dollar figure: $1.361 billion (FY97/98)

Military expenditures - percent of GDP: 3.8% (FY97/98)

Sources: http://www.cia.gov/cia/publications/factbook/geos/mo.html

27. Foreign Trade Impact: 3.0

Morocco total eports in 2002 was $7.5 billion and total imports was $10.4 billion which give a total of $17.9 billion divided by the annual GDP for the same year ($121.8billion). That means that foreign trade has an impact of 15% over the total GDP of 2002.

Sources: http://www.cia.gov/cia/publications/factbook/geos/mo.html

28 Protection of foreign currency earning enterprises: 4.0

The Moroccan government has made the Moroccan Dirham (MDh) convertible for an increasing number of transactions over the last few years. As of February 1993, the MDh was made convertible for all current transactions and for some capital transactions, notably, capital repatriation by foreign investors. Foreign exchange is routinely available through commercial banks for such transactions upon presentation of documents. The Central Bank sets the exchanrate for the MDh against a basket of currencies of its principal trading partners. The rate against the basket has been steady since a 9 percent devaluation in May 1990, with changes in the rate of individual currencies reflecting changes in cross-rates. In a further move, the Ministry of Finance recently decided that private enterprises are allowed to access international financial markets directly.

Sources: http://www.infoprod.co.il/country/morocc2c.html

29: Management of foreign currency budget: 2.5

GDP: $121.8 billion

EXPORTS: $7.5 billion f.o.b. (2002 est.)

IMPORTS: $10.4 billion f.o.b. (2002 est.)

EXPORTS-IMPORTS= ( $-2.9billion)

Morocco is spending more in importing than in exporting.

SOURCE: http://www.cia.gov/cia/publications/factbook/geos/mo.html

30 Layers of collective action: 3.5

Morocco is a constitutional and democratic monarchy. The King is the Supreme Representative of the Nation and the Symbol of the unity thereof. He is the guarantor of the perpetuation and the continuity of the State. As Defender of the Faith, He ensures the respect for the Constitution. He is the Protector of the rights and liberties of the citizens, social groups and organisations.The Government is composed of the Prime Minister and Ministers. The Government is answerable to the King and the Parliament. The Administrative power in the Kingdom is organised on two layers: local communities and local assemblies.

Sources: http://www.llrx.com/features/morocco.html

31.Pro-Business Climate: rating 5.0

Morocco is a very attractive location for investors. The climate for private investment in Morocco is excellent. Just eight miles from Europe, Morocco's strategic location offers investors a real window of opportunity to establish export platforms to the European Community, U.S. East Coast, Africa, and the Middle East. Morocco's political climate is stable. The transportation system is being expanded rapidly. The govenment of Morocco has instituted major reforms and liberalization measures aimed at improving foreign trade and encouraging export oriented investment opportunities. An important fact for investors to note is that Morocco's foreign investment laws are liberal.

Sources: http://www.usa-morocco.org/bizopps.

32. Government enterprises: 3.5

Morocco approaches the 21st century in a stronger position than most countries in the Middle East and North Africa. Since 1983 the government began a comprehensive program of reforms.In the last decade Morocco began privitazing. Because Privatization fits well into Morocco's overall liberal environment and continues the State's long term withdrawal from economic activities. It is entirely a home-grown policy that was set in motion by King Hassan II. The sales process is open and transparent, carried out by a tripartite organizational structure made up of a Minister, a Commission of high government officials, and a price setting Board. the standard sales mechanisms are employed. Showing good sense, authorities opted for openness and transparency by favoring stock market listings or tenders, which together have accounted for 75% of revenue. Worker shares, rights of first refusal and trade sales account for the rest. Procedural changes to speed up the privitization process are also planned. while the results for the first half of 1996 have already been striking, the planned additions to the list and the streamlined procedures clearly show that the best is yet to come.

Sources: http://www.usa-morocco.org/privatization.

33.International Security Agreements: rating 3.5

Because of its important participation in different organization Morocco has a world wide opening for business.here is some of the organization that Morocco belongs to:

ABEDA, ACCT (associate), AfDB, AFESD, AL, AMF, AMU, CCC, EBRD, ECA, FAO, G-77, GATT, IAEA, IBRD, ICAO, ICC, ICFTU, IDA, IDB, IFAD, IFC, IIB, ILO, IMF, IMO, INTELSAT, INTERPOL, IOC, ISO, ITU, LORCS, OAS (observer), NAM, OIC, UN, UNCTAD, UNESCO, UNHCR, UNIDO, UPU, WHO, WIPO, WMO, WTO.

Sources: http://rabat.usembassy.gov http://www.mincom.gov.ma/english/generalities/economy/economy.

34 Protection of domestic enterprises from government mandated costs: 2.0

Morocco's economy is based primarily in agriculture and tourism.Morocco boasts the largest phosphate reserves in the world, a diverse agricultural (including fishing) sector, a large tourist industry, a growing manufacturing sector (especially clothing), and considerable inflows of funds from Moroccans working abroad. Most of Morocco's trade is with Europe, France alone accounts for about a quarter of Morocco's imports and a third of its exports. Morocco is a member of the WTO.The Moroccan government has pursued an economic reform program since the early 1980s. It has restrained government spending, revised the tax system, reformed the banking system, pursued appropriate monetary policies, eased import restrictions, lowered tariffs, launched a privatization program and liberalized the foreign exchange regime. These reforms have helped restore macroeconomic equilibria: the current account deficit, fiscal deficit and inflation rates are well below their early 1980s levels. Economic growth has been modest, with wide year-to-year fluctuations due largely to variations in rainfall.

The reform program continues to move forward although slowly and unevenly. An anti-corruption campaign in early 1996 considerably slowed customs clearances, and put a damper on some economic activity. The privatization program has progressed slower than expected, but trading privatized companies has given a huge boost to the Casablanca stock exchange. The Moroccan government has embraced private financing, construction and operation of some highways, a new Atlantic Ocean port for Tangier and other large infrastructure projects, including a $1.5 billion electric power project awarded to a joint venture between an American and a European firm.GDP growth topped twelve percent in 1996 following heavy rains that nourished a record harvest. Erratic rains in 1997 led to a 25 percent drop in agriculture GDP. The economy as a whole is expected to contract by 2.5 percent in 1997. Foreign exchange reserves have bounced back after falling during the 1994-1995 drought. The government has recently announced an easing of exchange controls for Moroccan tourists. Morocco's chronic merchandise trade deficit narrowed slightly in 1996. This trend has continued into 1997. Receipts from remittances, tourism and foreign investment recovered in 1996, and have increased sharply in 1997, led by a significant increase in foreign investment.

Sources: http://www.state.gov/www/issues/economic/trade_reports/neareast97/morocco97.html

SECOND STUDY OF MOROCCO BY STUDENT N.S.

RATING SUMMARY: SECOND STUDY BY N.S.

POLICY NUMBER      RAW SCORE   ADJUSTED SCORE    POSSIBLE   PERCENTAGE

        1               4.0          12.0             15.0        80%

        2               3.5          10.5             15.0        70

        3               2.5           7.5             15.0        50

        4               2.5           7.5             15.0        50

        5               3.0           9.0             15.0        60

        6               2.5           7.5             15.0        50

        7               2.0           6.0             15.0        40

        8               3.5          10.5             15.0        70

        9               1.5           4.5             15.0        30

        10              4.0          12.0             15.0        80

        11              4.0          12.0             15.0        80

        12              2.5           5.0             10.0        50

        13              2.0           4.0             10.0        40

        14              4.0           8.0             10.0        80

        15              3.5           7.5             10.0        75

        16              3.0           6.0             10.0        60

        17              2.5           5.0             10.0        50

        18              4.0           8.0             10.0        80

        19              3.5           7.0             10.0        70

        20              2.0           4.0             10.0        40

        21              1.5           3.0             10.0        30

        22              2.0           4.0             10.0        40

        23              3.5           7.0             10.0        70

        24              2.0           4.0             10.0        40

        25              3.5           7.0             10.0        70

        26              2.0           4.0             10.0        40

        27              4.0           8.0             10.0        80

        28              3.5           7.0             10.0        70

        29              3.5           3.5              5.0        70 

        30              2.5           2.5              5.0        50

        31              3.5           3.5              5.0        70

        32              2.5           2.5              5.0        50

        33              3.0           3.0              5.0        60

        34              2.5           2.5              5.0        50

   TOTAL               99.5         215.0            375.0        57.3%
                      =====        ======            =====        =====

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INDIVIDUAL POLICIES


1. Freedom from internal control: 4.0

The moroccan people are all originated from nomads. Any body can move from a city to onether one looking for bigger opportunity without any restrictions. People are moving constantly to bigger cities looking for better life specialy moving to Casablanca which is the biggest city in the country and the heart of the econmy.

Source:personal.

2. Freedom of speech: 3.5

Morocco is one of the third world countries where people live in harmony and peaceful climate. Although the level of poverty is very high, they seem to not complain much. People talk in politics in public without fear, also they can say what ever they feel like saying, for example in protests and strikes.

Source: pesonal.

3. Effective, fair police force: 2.5

The police force in morocco has a big role in keeping the peace in the country. It has a large affect on the population, people know that if they don't obey the law, they are going to be in deep trouble with the police. Also moroccan people are very wild people with a lot of energy.Basicly the police interfers at any problem. So far the police force is doing a very good job in controling the population despite the fact that there is some bribery, but in general it's doing the job.

Source: personal

4. Private property: 2.5

In Morocco, anybody can own anything any time he would like. Basicly if the person has money, he can buy purchase and sell anything that he owns. These action are going to be legal under a regulated system. Every purchased will be recognized by legal documents that prove the ownership of the owner.

Source: personal

5. Commercial banks: 3.0

There is no clear-cut distinction between commercial and merchant banks. By and large, all commercial banks provide commercial and saving services, with merchant banking as an accessory service. The four largest commercial banks are: Credit Populair du Maroc (or Banque Populaire), Banque Commerciale du Maroc, Banque Marocaine du Commerce Exterieur and Wafabank.Moroccan banks offer a broad range of regular banking services, including depository services and trade and credit services. Several banks now offer electronic banking services for corporate clients and a wide array of consumer banking facilities such as credit cards, ATMs and telephone banking services. Most banks are linked to the SWIFT global payment system, enabling them to quickly execute foreign currency and convertible MDh transactions to non-residents, including transactions involving the repatriation of earnings of foreign companies. Moroccan banks, however, are still not in the position of offering a complete spectrum of modern services in terms of foreign exchange, money and capital markets and corporate finance activities. In order to ameliorate this situation, the Moroccan monetary authorities are working on regulatory changes which would promote additional modernization of the industry

Source:http://www.infoprod.co.il/country/morocc2c.htm

6. Communication systems: 2.5

Telephones - main lines in use: 1.391 million (1998)

Telephones - mobile cellular: 116,645 (1998).

Telephone system: general assessment: modern system with all important capabilities; however density is low with only 4.6 main lines available for each 100 persons.

Radio broadcast stations: AM 27, FM 25, shortwave 6 (1998

Television broadcast stations: 35 (plus 66 repeaters)

(1995Internet users: 120,000 (1999)

Source:http://www.cia.gov/cia/publications/factbook/geos/mo.html

7. Transportation: 2.0

Railways: total: 1,907 km; standard gauge: 1,907 km; 1.435-m gauge (1,003 km electrified; 540 km double track)

Highways: total: 57,847 km; paved: 30,254 km (including 327 km of expressways); unpaved: 27,593 km (1998)

Ports and harbors: Agadir, El Jadida, Casablanca, El Jorf Lasfar, Kenitra, Mohammedia, Nador, Rabat, Safi, Tangier; also Spanish-controlled Ceuta and Melilla

Airports: 69 (2000 est.)

Heliports: 1 (2000 est.)

Source:http://www.worldfactsandfigures.com/countries/morocco.php

8.Education: 3.5

In Morocco's mountain, desert, and seaside communities, young teacher colleges are training young people to become primary school teachers. The colleges operate with minimal resources and traditional instruction methods, and the students listen to lectures designed to prepare them for their own classrooms. The ones that in Moroccan education recognize that the knowledge, skills, and capabilities needed for success in this new world and are different from those of the old. education is moving toward a new approach that combines the best of the old with the most promising of the new.\

Source:http://www.interaction.org/library/detail.php?id=1000

9. Social Mobility: 1.5

In Morocco today, around 20 per cent of a population of 30 million live in poverty, 10 per cent are living in misery and 30 per cent (mostly the young and the elderly) are classified as vulnerable. about 56 per cent of the population are illiterate and only 18 per cent of women can read and write.Unemployment is about 20 per cent and job creation cannot keep up with the increasing number of job seekers. The educational system, which has been creating more and more unemployed graduates, is sufering and in need of a major overhaul (54 per cent of young boys and 74 per cent of young girls do not attend school). Income disparities have worsened in recent years and the gap between the higher and the lower incomes is very wide. Disparities between rural and urban incomes and living standards are critical. Among the rura1 population, 63 per cent have no water, 87 per cent are without electricity, 93 per cent have no access to health services and 65 per cent are illiterate. The health system, which receives only one per cent of the GDP is deteriorating and corruption has become an institution.

Source:http://arabworld.nitle.org/texts.php?module_id=3&reading_id=353&seque nce=11

10: Freedom from outside control: 4.0

Morocco is part of The International Criminal Police Organization - Interpol (ICPO-Interpol) was created to assist international criminal police cooperation. Interpol, once merely the organization's telegraphic address, was officially incorporated into the organization's new name adopted in1956, prior to which it was known as the International Criminal Police Commission.

Source:http://www.nationmaster.com/encyclopedia/Interpol

11. Foreign currency transactions: 4.0

The Moroccan government has made the Moroccan Dirham (MDh) convertible for an increasing number of transactions over the last few years. As of February 1993, the MDh was made convertible for all transactions and for some capital transactions. Foreign exchange is routinely available through commercial banks for such transactions upon presentation of documents. The Central Bank sets the exchan rate for the MDh against a basket of currencies of its principal trading partners. The rate against the basket has been steady since a 9 percent devaluation in May 1990, with changes in the rate of individual currencies reflecting changes in cross-rates. In a further move, the Ministry of Finance recently decided that private enterprises are allowed to access international financial markets directly. International financial transactions are subject to the control of the Moroccan Exchange Office, which retains the authority to act in a balance of payments or liquidity crisis. The liberalization of the exchange control has removed all barriers for international trade transactions, foreign investments, income transfer, foreign technical assistance and tourism.

Source: http://www.infoprod.co.il/country/morocc2c.htm

12:. Border control: 2.5

The location of Morocco is one of the most strategic in the world, it has played an essential role in the of the area linking Europeto Africa and Arab world. 7.5 miles away from Europe made that region very active legally and illegally. Illigale imigration to Europe is very big, also it's a big attraction to smuglers to smugle all kind of product into or out of the country or to the continent. There are great efforts done by the moroccon government to control the area because it affect the economy and give a bad image of the country.

Source: personal.

13. Currency: 2.0

The Moroccan 5 Dirham coins was 1987 (the design also included the Mohammedan Era date 1407, that AH year ended on the 25th August 1987). It is believed that these Moroccan coins were made in Morocco on blanks produced in Italy. The Moroccan mint, known as Dar As-Sikkah, was opened in the capital Rabat, on the 5th March 1987 by the late King Hassan II. A new series of circulation coins was issued by Morocco with that date (1987/1407), unsurprisingly coinciding with the time of the opening of the mint.

Source: http://www.wbcc.fsnet.co.uk/af-mor.htm

14: Cultural, language homogeneity: 4.0

There are four kinds of people in Morocco: Arabs, chlouh, amazigh and riafa. The majority are muslims(99%),jewish(0.5%) and christians(0.5%).The Arabs have come to morocco about 1500 years ago and the other are considered to be native berers. The berer population which is the majority(60%) have their own dilects, and of course the arabs speak arabic. Yet still the majority of the ppulation speack and communicat with arabic that considered the national language. Speaking arabic has made the population live together for centuries in remarqueble harmony. All over Morocco, The culture stays the same, even the food is the same.

Source: personal

15:Political effectiveness: 3.5

Over two million Moroccans live outside of Morocco. Annually, these migrants contribute four to five billion guilders to the Moroccan economy. For this reason, the Moroccan government wants to have some supevision over these migrants. To exercise this control, intimidat measures have been taken in the past in order to isolate migrants. Migrants were not allowed to take part in political and trade union activities. however in the nineties these measures were no longer suitable to the Moroccan government. the Moroccan government is trying to tie Moroccan migrants to their native country by increasing public relations activities. Furthermore, successful Moroccans who live in Europe are now back to the Moroccan institutions and satarted participating in political decision-making, social intercourse and economic transactions in Europe is no longer seen as a danger to the Moroccan nation; it is rather considered an advantage. The way in which the Moroccan government dealt with Moroccan migrants has caused a lot of conflicts amongst the migrants and has counteracted their integration in European countries

Source: http://www.minjust.nl:8080/b_organ/wodc/jv/jv2001-5s.htm

16. Institutional Stability: 3.0

The Moroccan government is trying very hard to make most fundamental istitutional system in the country as efficient as possible, but this effort will need more than the will it need a lot of money. In the major cities, the people has access to all the institution they need. In every major city, there are hospitals, schools, courts, clinics, county hall, recreation areas... Yet the major proleme rest in the country side, the villages have practicly almost no government institution exept for maby a polece and fire station. All the country side areas are linked somehow to the closest main city even if it could be 500 miles away.

Source: personal

17. Honest Government: 2.5

In Morocco as in any other underdeveloped, the gvernment is not as controled as it shouled. Any person can get him self out from any situation, or get any get any transaction done the fastest way possible. It all depends about how much money that person has, or how many powerful people he knows. One of the biggest problems the government has is bribery. In Morocco any body who has money can have the ultimate rest about any action conserning government work, the things that usually would take months to be done for regular people will take hours for rich people. Yet the highest authorities in the government are trying very hard to controle this probleme. Olso with the new king, things are getting better and bettter each day, and at this rate the prolems will controled fairly soon.

Source : personal

18. Common laws: 4.0

The Moroccan Constitution provides for a monarchy with a Parliament and an independent judiciary. Ultimate authority rests with the King. He presides over the Council of Ministers; appoints the Prime Minster following legislative elections; appoints all members of the government taking into account the Prime Minister's recommendations; and may, at his discretion, terminate the tenure of any minister, dissolve the Parliament, call for new elections, or rule by decree. The King is the head of the military and the country's religious leader. Since the constitutional reform of 1996, the bicameral legislature consists of a lower chamber, the Chamber of Representatives, which is directly elected and an upper chamber, the Chamber of Counselors, whose members are indirectly elected through various regional, local, and professional councils. The councils' members themselves are elected directly. The Parliament's powers, though limited, were expanded under the 1992 and 1996 constitutional revisions and include budgetary matters, approving bills, questioning ministers, and establishing ad hoc commissions of inquiry to investigate the government's actions. The lower chamber of Parliament may dissolve the government through a vote of no confidence.

Source: http://jurist.law.pitt.edu/world/morocco.htm

19. Central bank: 3.5

Bank Al Maghribe is a commercial bank, based in Rabat. The main functions of the bank include: carrying out the privilege of currency issue in the Kingdom, safeguarding currency stability and its convertibility, developing the money market, management of public exchange reserves and more.

Source : personal

20: Domestic Budget Management: 2.0

"WASHINGTON, June 5, 2003-

With the aim of improving public asset management systems in Morocco, the World Bank today approved a loan for $45 million to support public expenditure rationalization and efficiency, notably in the public education and health sectors. The Asset Management Loan will generate efficiency gains and medium/long-term savings and improve the maintenance of properties. The preparation of this loan has also served to promote policy dialogue, partnership and ownership that are essential not only for the implementation of this operation but also for the long-term reforms needed on overall budget and financial management in Morocco.Morocco, like many other countries, treats its public land and real estate holdings as public goods, rather than productive assets capable of producing a mix of significant returns and social benefits if properly managed. Land and real estate typically represent 25 to 50 percent of public entities? assets. The replacement cost of the buildings of the ministries of health, education and higher education alone amount to over 9 percent of GDP.The potential savings from improved management of this land and real asset portfolio are significant and could generate substantial economic and efficiency gains. The loan program will help Morocco achieve these gains by promoting the development of a national asset management policy and buildings management systems.The proposed loan program promotes three key objectives of the Country Assistance Strategy (CAS) for Morocco: expenditure rationalization, long-term fiscal sustainability, and improved service delivery in the social sectors."

Source: http://web.worldbank.org/WBSITE/EXTERNAL/NEWS/0,,contentMDK:20114503~menuPK: 34463~pagePK:34370~piPK:34424~theSitePK:4607,00.html

21: Government Debt: 1.5

The Moroccan government will spare no effort to alleviate the burden of external and internal debt .In order to achieve the objective of reducing its external and internal debt, Morocco has to increase its exports and attract more investments. Morocco, whose external debt is estimated at $25 billion, is trying to alleviate the problem through having its debt swapped into investments, especially with France, Spain and Italy . the 1999-2003 five-year development plan will define the objectives of the social and economic development of Morocco . The plan will seek to reform administration and justice, consolidate decentralization, deal with joblessness and enable Morocco to take up the challenges of international competition, the minister said.

Source: http://www.arabicnews.com/ansub/Daily/Day/990106/1999010648.html

22: Economic statistics: 2.0

Morocco faces the problems typical of developing countries - restraining government spending, reducing constraints on private activity and foreign trade, and achieving sustainable economic growth. Following structural adjustment programs supported by the IMF, World Bank, and the Paris Club, the dirham is now fully convertible for current account transactions, and reforms of the financial sector have been implemented. Droughts depressed activity in the key agricultural sector and contributed to a stagnant economy in 1999 and 2000. During that time, however, Morocco reported large foreign exchange inflows from the sale of a mobile telephone license and partial privatization of the state-owned telecommunications company. Favorable rainfall in 2001 led to a growth of 6.5%. Good harvest conditions continued to support GDP growth in 2002. Formidable long-term challenges include: servicing the external debt; modernizing the industrial sector; preparing the economy for freer trade with the EU and US; and improving education and attracting foreign investment to boost living standards and job prospects for Morocco's youth.

Source: http://www.cia.gov/cia/publications/factbook/geos/mo.html

23. Protection of Public Health and Safty: 3.5

The profesional sector in Morocco requires that all the workers will have health insurance.This program makes the every working personal easy access to a hostpital, but the problem that the moroccans suffer from a big unemployment rate. That is way the moroccan government takes all the aid necessary.The first aid provider to Morocco is the US . With USAID support, the national FP/MCH program has achieved impressive results. The total fertility rate was reduced from 7 children per woman in 1962 to the current 3.1. The infant mortality rate decreased from 91 deaths per 1,000 live births in 1980 to 37 deaths per 1,000 in 1997. Activities support improved program management at the local level and an increased role for the private sector in reproductive and child health. By providing tools to work on outstanding issues in the health sector, USAID Morocco addresses needs in rural areas and provides alternatives to free government reproductive and child health services. In addition, USAID continues to provide technical assistance to the MOH for selected systems previously developed with USAID support.

Source:http://www.usaid.gov/ma/ph.htm0

24. High wage policies: 2.0

In Morocco there is a big different in the wages among the wokers . there are three kind of employments in the country; employee of the states, employees in the privat sector, or self employed . Being self employed the wages are kind simple ,more money the person makes, more money he'll earn . The privat sector wages are usualy more than the ones in states, the worker will make more money in the privat sector because the companies are richer, but to get hired in this sector you need to know somebidy.Working in the state provid less money ,but you don't risk to lose the job . The lowest wage is about $160 a month, and the highest wage is about $44000 a month . As we can see the gap between the two wage is hugh.

Source: personal.

25 : Environmental protection: 3.5

The Moroccan government is trying to protect the environment and the ecosystem. These efforts are shown by the agreement that the country is having with intenational eniromental protection groops.In fact Morocco and the Belgian region of Brussels signed in Rabat on Monday an agreement for cooperation in environment protection.The agreement, initialed by visiting minister of foreign trade and environment of the Belgian region Didier Gosuin, covers three priority fields: administrative management and staff training, environment-related laws, and training, education, information and awareness.The parties pledge to facilitate and encourage the exchange of information, expertise, and training on environment preservation issues and increase contacts between private sector representatives.

Source: http://www.arabicnews.com/ansub/Daily/Day/000222/2000022230.html

26: Strong Army: 2.0

The moroccan army is devided to different branches, these branches are: the royal army, royal navy, the royal air force,royal gendaarmerie, and auxilary forces. These department takes about 4.2% of the GDP of the country (about $1.1 billion)the troops are estimated 125 000 personal . The army is staget in two major areas in the north and in the south (western sahara)

Source:http://faculty.winthrop.edu/haynese/mlas/morocco.html

27.Foreign trade impact: 4.0

The population of Morocco is about 31 million, and the size of the country is 446,550 sq km exluding the land in the western sahara(about 250,000sq km) which morocco is still debating as part of the moroccan lands . The strategic location of Morocco gives it an important roll in the economy in the area . Morocco faces the same problemes as any developing-restaining govrnment spending, reducing constraints on private activities and foreing trade, and achieving sustainable economic . The GDP is $121.8 billion, the growth is 4.6 % . The GDP is composed by agriculture 15 % , industry 33 % and 52 % of services. The imprts are $10.4 billion, and the exports are $7.5 billion . Therefore athe amount of imprts is greater than the exports one which put the business situation in very bad shape.

Source: http://www.greatestcities.com/Africa/Morocco.html

28 .Protection of foreign currency earning enterprises: 3.5

Due to the initial success in privatization and the strength that new offerings gave Casablanca bourse, Morocco was the recipient of FDI to Africa. Morocco offers a various investment incentives such as total exemtion from corprate taxes, VAT taxes, and import duties.Also there are some incentives to encourage foreign companies to comply with enviromental laws, or instal enviromental protection equipment. Foreign investment are allowed in all aspect of the privat sector.Ownership of real estat by foreign investors is permited as well . Recently, two major spanish telephon companies had invested about 3 million dollars .Coca cola has expended there investment with a 90 million . Also in the past morocco has believed to hav a insignicant 1.8 million barrels of oil . Then a US producer made the discovery of up to 100 barrels of oil wich will make the investment in the country more attraction from the foreign investors .

Source : www.arabdatanet.com/country/profiles

29. Management of Foreign currency budget: 3.5

The moroccan business climat is very stable, also moroccan produce a variety of product . Also the international business relations that morocco is establishing is mainly with the europien union .The moroccan export consist of clothing, fish, inorganic chemicals, transitors, crude minerals, fertilizers(including phosphates),commidities:protoleum products, fruits, and vegetebles.Exports provide morocco with 7.5million dollars.As for the imports which are protoleum, textil fabric,telecommunicartion equipment, wheat, gas and electricity,transistors, plastic. Imports cost morocco 10.4million dollars . The export partners are france, spain, uk, germany, italy and usa .The import partners are france, spain, italy, germany, usa, uk and saudi arabia .

source: http://www.greatestcities.com/Africa/Morocco.html

30. Layers of Collective Action: 2.5

Chief of state: King MOHAMED VI (since 23 July 1999) Head of government: Prime Minister Driss JETTOU (since 9 October 2002) cabinet: Council of Ministers appointed by the monarch

Elections: none; the monarch is hereditary; prime minister appointed by the monarch following legislative elections. Bicameral Parliament consists of an upper house or Chamber of Counselors (270 seats; members elected indirectly by local councils, professional organizations, and labor syndicates for nine-year terms; one-third of the members are renewed every three years) and a lower house or Chamber of Representatives (325 seats; members elected by popular vote for five-year terms)

Source: http://www.cia.gov/cia/publications/factbook/geos/mo.html

31: Pro-business climate: 3.5

Morocco is very attractive location for invesors. The climat for privat investorment in the country is exellent. The strategic location offers investors a real window opportunity to creat a platform exprts to the European countries, africa, and the midle east. The moroccan plitical climat is very stable.The Moroccan government has instituted major reforms and liberalization measures aimed at improving foreign trade and encouraging exoprt. An improving fact for investors to note is that Morocco's foreign investment laws are liberal

Source: www.usa-morocco.org/bizopps.html

32: Government Enterprises: 2.5

Morocco approaches the 21 century in a stronger position than most third world countries. Since 1983 the covernment began a very serious reforming program, and in the last fourteen years Morocco has started a movement of privatization. This movement will fit in Morocco's liberal invirenment and will countinue the countriues withrawal from economic activities. This policy was set with last king HASSAN II. In addition, other efforts were done to improe the brusness relation with other country espacialy the ones wth strrong economy like the U.S.Morocco has been working closely with the U.S. to promote better business opportunities. On April 2, 2002 the leaders of the two countries negotiated a free trade agreement. This FTA would generate U.S. exports. In addition Morocco implemented an association with the European Union which provided preferential tariff for Moroccan industrial exports. This included the liberation of telecommunication, as well as creating a better tourism system. The country has also adopted a strong economic program, launched an initiative design to streamline investment procedures, and eliminate barriers to foreign and domestic investments.

Source: www.ita.doc.gov/doctm.bus_dev_morocco_egypt_0503.html

33: International Security Agreements: 3.0

Morocco has a peaceful society. Islam, Christianity, and Judaism co-exist harmoniously. Their individual rights are guarenteed by the constiution. Their crime rate is one of the lowest in the world. In 1995 Morocco signed a treaty with the U.S. prohibiting weapons of mass destruction. Morocco is also very involved in the war against terrorism, this creates a low risk environment concerning business security.

Source: www.un.org/webcast/crbt/statements/moroccoF.htm

34: Protection of Domestic Enterprises from Government Mandated Costs: 2.5

From the first day of Morocco's initial website it recognized the profound effect that information technology has had and will continue to have upon the world. As a result the government has made many efforts to improve the business climate in relation to telecommunications. For example the prepartation of a regulatory framework of E-commerce, domains, and encryption. As well as particpation in ITU's Electronic Commerce for Developing Countries.

Source: http://rabat.usembassy.gov/Themes/EconomicIssues/PartIII-Ecommerce.htm

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