The Kingdom of Morocco follows liberal economic policies. The principal pillars of the
Morocco economy are the tourism industry, phosphate mining industry and agriculture.
The
Morocco economy is characterized by free market practices. The economy is largely liberal and private investment is actively encouraged. The former colonial power France remains its largest foreign investment partner. Agriculture is one of the bulwarks of the Moroccan economy. The economy of Morocco depends on the production and sale of the cannabis plant. The cannabis plant is the precursor of the drug hashish. The country is a signatory to the United Nations Drug Convention and is now actively trying to reduce its economic dependency on the lethal produce.
The principal industrial framework of Morocco includes the tourist industry. Morocco is one of the few African countries that stand tall on the tourist map of the world. Tourism is a major foreign exchange earner of Morocco. It is a major contributor to the foreign exchange reserves of the country. The Moroccan economy is also bolstered by phosphate mining and phosphate processing. The natural material is exported all over the world. There is no hindrance to foreign investments in Morocco. Foreign entities do not have to encounter any bureaucratic hurdles to invest in the country.
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