<P> Recent activity in Western Sahara, which is believed to contain viable hydrocarbon reserves, has been controversial . In 2001, Morocco granted exploration contracts to Total and Kerr - McGee, angering Premier Oil and Sterling Energy, which previously had obtained licenses from the Polisario government . In 2005, the government - in - exile of the Western Sahara invited foreign companies to bid on 12 contracts for offshore exploration, with hopes of awarding production sharing contracts by the end of 2005 . </P> <P> The shift to an environment - conscious approach in Morocco has brought about scores of investment opportunities, most being in the utility and renewable energy industries . In addition to the rise in sales of photovoltaic panels, the business of wind turbines is also surging despite soaring prices on international markets because of the growing demand . To work towards a programme of sustainable development, a number of technological updates need to be made, including improvements to automobiles, the quality of energy products and increasing the number of renewable energy - producing plants . The government also needs to promote water conservation and efficiency in order to prevent further scarcity . Despite these challenges, Morocco is working to conserve and protect its environment and its efforts were recognised when its Mohammed VI Foundation for Environment won the environmental prize National Energy Globe Award in Brussels in 2007 . </P> <P> While Morocco is already a model of water management in the MENA region, upgrades to its water system under the National Wastewater Management Programme should further improve wastewater treatment and maximise efficient water usage . Authorities are promoting better water rationalisation in agriculture, which uses 80% of water resources, by replacing existing irrigation systems with micro - irrigation and drip networks . A net energy importer, Morocco launched the National Renewable Energy and Efficiency Plan in February 2008 to develop alternative energy to meet 15% of its domestic needs and increase the use of energy - saving methods . It is expected to create more than 40,000 jobs and stimulate over € 4.5 billion in investment by 2020 . The National Plan for the Development of Solar Thermal Energy, formulated in 2001, aims to install 440,000 solar - powered water heaters by 2012, of which 235,000 are completed . </P> <P> In May 2009, the World Bank approved a € 121m loan to help finance the implementation of the kingdom's solid - waste management programme, which targets a 90% waste disposal rate for urban areas by 2021 . The government is taking measures to mitigate the harmful effects of tourism on Morocco's natural resources, while increasing incentives for a growing niche of ecotourism projects . As of January 2008, hotels with good environmental practices will receive a Green Key label as part of a programme by the Mohammed VI Foundation for the Protection of the Environment . Under a ten - year plan for the protection of natural resources, 40,000 to 50,000 ha of forests are replanted annually with indigenous palm trees . </P>

What type of economic system does the cfm best describe