Marrakech, Nov 21 (IANS): The Moroccan government and US institution Babson Global have signed a memorandum of understanding to conduct a feasibility study for the establishment of an "Enterprise City", a city dedicated to business, in the North African country.

The memorandum was signed Thursday on the sidelines of the 5th Global Entrepreneurship Summit in Marrakech by Morocco's Minister of Industry, Trade, Investment and the Digital Economy, Moulay Hafid Elalamy and chairperson of Babson Global, Kerry Healey, and its director, Shanker Singham, MAP news agency reported.

The feasibility study is meant to measure the socio-economic impacts of the "Enterprise City" project and define a concept adapted to specific local needs.

The project is in line with the Moroccan government's efforts to ensure a favourable environment to develop entrepreneurship as a driving force of sustainable economic growth.

A subsidiary of Babson College, Babson Global is an independent, not-for-profit institution with solid expertise in entrepreneurship development.