Fez, Morocco was the capital of Morocco until 1925. Rabat then remained the capital even after Morocco achieved independence in 1955. Despite its traditional character, there is a modern section: the Ville Nouvelle or "New City". Today it is a bustling commercial center. The popularity of the Fez has increased since present ruler, King Mohammed VI of Morocco, married a woman from Fez, Salma Bennani. Place Lalla Yeddouna at the heart of the Medina is currently undergoing reconstruction and preservation measures following a design competition sponsored by the Millennium Challenge Corporation (Washington D.C.) and the Government of the Morocco. The construction projects
Economy of Morocco committed significant resources — by way of loans and tax exemptions — to the development of the tourist industry and associated services. The government also made direct capital investments in the development of the service sector, but since the early 1990s it has begun to divest itself of these properties. Several million visitors enter Morocco yearly, most of them from Europe. Tourists also arrive from Algeria, the United States, and East Asia, mainly Japan. Morocco is a major touristic destination. Tourism is thus a major contributor to both the economic output and the current account balance, as well as a