One of the costliest component of doing business is working in an environment with an inefficient and archaic bureaucratic system.
Morocco, unfortunately still lingers on to a colonial system of doing business which restricts growth and cause unnecessary delays resulting in loss of time and money.
I have gone through the exercise of establishing a business in Morocco where I had to fulfill the same requirements repeatedly.
My advice to foreign investors is to hire a good consultant , get to know the local laws of investing, taxation, banking and how to get started.