Morocco is considered the champion of North Africa’s competitiveness. The Kingdom has risen to 72th place, a status confirmed by the new Competitiveness Rankings of the World Economic Forum (WEF) in Morocco which won five seats.
The level of security, the effectiveness of market goods, entrepreneurship procedures and strong banking sector have made a positive impact and were revealed to be the strengths of Morocco cited at the 2014-2015 global competitiveness report.
As for the report, the good performance of Morocco is mainly the result of reducing the budget deficit and improving education and innovation capabilities. WEF experts also emphasize on the improvement by the Moroccan state in the aspects of institutional order particularly the climate of social and political stability and the efforts to improve the business climate in recent years.
The Kingdom was encouraged to commit better on quality education, and labor market reform to increase the share of women in the workforce in order to enhance the proficiency of the country. The use a larger scale of Information Technology and Communication (ICT) in enterprises and individuals greatly benefit the country’s competitiveness. It was also noted that the process of economic diversification is important for the future growth of the country, to the extent that it stimulates exports and foreign direct investment (FDI) in industries with high added value.
At the MENA region level, the United Arab Emirates took the lead at 12th place ahead of Qatar which is at the 16th place. In the 2014-2015 global ranking, Singapore retains its second place behind Switzerland, and the United States now appear in 3rd place, earning two places from 2013.