Morocco stands out as the country with the highest Open for Business score of 58.0, placing it in 31st place worldwide.
According to a United States News and World Report report, Africa is becoming a more popular destination for entrepreneurs as the world’s attention is drawn to the continent’s developing economies.
The report also reveals that nine African nations are among the top 85 for entrepreneurship.
Morocco has been working towards economic reform and privatization since the 1980s, which is consistent with its commitment to creating an environment that is business-friendly.
These results underscore Africa’s dynamic position on the international business scene, where local and foreign entrepreneurs can find plenty of room to grow and diversify.
Morocco’s economy is regarded as being largely liberal and subject to supply and demand.
Following many changes in the West, Morocco has pursued a policy of privatization of some formerly government-controlled economic sectors since 1993.
Like many former African colonies, raw material exports continue to play a major role in Morocco’s economy. Modern sectors are also becoming more and more important to the economy, especially telecommunications and tourism.
The top imports of Morocco are refined petroleum, cars, motor vehicles; parts and accessories, petroleum gas, and wheat, importing mostly from Spain, China, France, Turkey, and the United States.
