Wednesday, July 26

Ease Of Doing Business Index: Morocco climbing 21 places to 94 position

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Global Arab Network
Ease Of Doing Business Index: Morocco climbing 21 places to 94 position

Global Arab Network – – Adnan Kassar

Diversified_economy_keeps_the_growth
Morocco improved its business regulation the most compared to other global economies, climbing 21 places to 94, by simplifying the construction permitting process, easing the administrative burden of tax compliance, and providing greater protections to minority shareholders. Since 2005, Morocco has implemented 15 business regulatory reforms.This year’s Doing Business report data cover regulations from June 2010 through May 2011. The report rankings on ease of doing business have expanded to include indicators on getting electricity.

Besides Morocco, 11 other economies are recognized as having the most improved ease of doing business across several areas of regulation as measured by the report: Moldova, the former Yugoslav Republic of Macedonia, São Tomé and Príncipe, Latvia, Cape Verde, Sierra Leone, Burundi, the Solomon Islands, the Republic of Korea, Armenia, and Colombia.
Governments in 125 economies out of 183 measured implemented a total of 245 business regulatory reforms—13 percent more reforms than in the previous year. In Sub-Saharan Africa, a record 36 out of 46 economies improved business regulations this year. Over the past six years, 163 economies have made their regulatory environment more business-friendly. China, India, and the Russian Federation are among the 30 economies that improved the most over time. Read about reforms.
Singapore led on the overall ease of doing business, followed by Hong Kong SAR, China; New Zealand; the United States; and Denmark. View the rankings.

Bellow are key business reforms undertaken by morocco that allowed to jump in the Global Ease of doing business rankings:

DB2012:
Positive Dealing with Construction Permits:
Morocco made dealing with construction permits easier by opening a one-stop shop.

Positive Protecting Investors:
Morocco strengthened investor protections by allowing minority shareholders to obtain any nonconfidential corporate document during trial.

Positive Paying Taxes:
Morocco eased the administrative burden of paying taxes for firms by enhancing electronic filing and payment of the corporate income tax and value added tax.

DB2011:
Positive Protecting Investors:
Morocco strengthened investor protections by requiring greater disclosure in companies’ annual reports.

DB2010:
Positive Getting Credit:
Access to credit was strengthened with a new private credit bureau that began operating in March 2009.

DB2009:
Positive Getting Credit:
The right of borrowers to inspect data on their creditworthiness was guaranteed, increasing their ability to control the accuracy of the information used by financial institutions in assessing their risk profiles.

Positive Paying Taxes:
The corporate income tax rate was reduced from 35% to 30%, effective 2008.

Positive Trading Across Borders:
Document requirements for importing and exporting were simplified, reducing the time to import.

DB2008:
Positive Dealing with Construction Permits:
The time needed to obtain new licenses for construction firms was reduced, by establishing a one-stop shop in Casablanca to provide better communication between the relevant agencies.

Negative Registering Property:
The property registration process was complicated by adding the requirement to check several tax agencies, rather than just one, in order to obtain a tax clearance certificate. The reform is being implemented nationwide, and adds three procedures to the process of transfer.

Positive Trading Across Borders:
A new risk-based inspections system was introduced, causing the time to import and export to decrease.

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