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Investment environment 'favourable' in Morocco

Morocco is enjoying a favourable investment climate that the government intends to capitalise on, it has emerged.

Housing minister Tawfik Hijra has outlined a new five-year property development scheme that will add to the construction of 50,000 low-cost villas in the country under a national programme, reports Magharebia.

Supporters of the government's programme include King Mohammed VI, and the initiative will be helped by a high level of involvement from the private sector, Mr Hijra said in the article.

"What we're going to do is to work hard over the next five years to make use of this favourable investment environment in order to implement the programme," he commented.

A new tax system, improved administrative procedures on permits and ample available property have been called for by the King as part of the government's programme, Mr Hijra is reported as saying.

His comments come as a new promotional drive has been launched by the Moroccan National Tourist Office targeting people in the UK, which represented the largest market for foreign visitors into the country, reports TravelMole.

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