"Morocco has risen 19 places since 2010, to 65th place, for its Investment Environment, as a result of significant reforms to strengthen intellectual property rights and investor protections," showed the Report.

According to the same source, Morocco has seen a 13-rank rise in market access and infrastructure, due to significantly improving its infrastructure, particularly its competitive mobile phone market, which has driven up access to high-quality internet.

"Its Most progress has been made in Enterprise Conditions, rising 34 places to rank 61st globally, due mainly to reducing the amount of time businesses spend complying with regulations," the report added.

Morocco has ranked 96th in the world in the 2020 Prosperity Index, falling two ranks compared to 2019.

The index measures the level of prosperity in 167 different countries based on 12 criteria including health, education and social capital.