Located between the Atlantic Ocean and the Mediterranean Sea, Morocco is dominated by the rugged peaks of the Atlas Mountains which rise to over 4000 meters in the southern region, in the desert. A land that displays the caprices of nature where its colours, shapes, varied landscape and human diversity reveal contrasts that will charm you forever.

 Morocco offers the chance to alternate different kinds of climate in just a few hours: from the snowy covered mountain peaks to the desert or the beach. The average annual sunshine is more than 8 hours a day in Agadir, Fes, Marrakech or Ouarzazate, with an average temperature of approximatively 21ºC. Morocco gives priority to the development of tourism and offers great opportunities for national and foreign investors.

Morocco also belongs to an ocean environment, to the Mediterranean world and the Sahara lands, only 14 km of strait separates Morocco from Europe. This place represents a crossroads between East and West. The future is particularly interesting for Spanish companies. The Moroccan government has encouraged these activities by promoting a real tourism industry, which has become a primary sector in the national economy. Morocco has made the attracting of investors the focal point of its economic strategy. This process is intended to convert foreign investors into real privileged partners in the development of the country. This is the reason why during these last fifteen years, the kingdom of Morocco has implemented a number of reforms in order to favour its expansion into the international market. As an evidence of interest in this country, the flow of Foreign Direct Investments (FDI) coming from the Arabic countries has considerably increased over the last few years.

These reforms have led to a series of advantages, amongst others:

• The adoption of an Investment Letter that does not discriminate against foreigners, and that includes measures to reduce investments costs and to simplify administrative procedures.
• The opening of almost all sectors to foreign investment.
• The liberalisation of foreign trade and the currency exchange system.
• The modernisation of the legal framework in which companies are to develop: corporation law, procedure for raising loans, setting up of mercantile courts, organisation of arbitration centres, the adoption of a law on competition, intellectual copyright.
• The Privatization and the involvement of the government in certain sectors, in order to grant the private sector a greater role in the economic development (road transport for merchandise and people, opening up of the Moroccan air space to foreign competition, the liberalization of the energy sector and telecommunication sector, reforms to the audio-visual sector, privatization of public companies, reform to the banking sector and the capital market).

These measures are in addition to the many attractions that Morocco offers to investors:

• Reasonably priced but skilled labour ready to be adapted to the development of economic needs.
• A good-sized national market with 30 million consumers, with an average growth of 450.000 inhabitants/year.
• A better reception capacity and a higher quality of life, in comparison with the surrounding countries.