Casablanca – In the latest report from the Arab Investment and Export Credit Guarantee Corporation (Dhaman), Morocco has demonstrated notable progress in the global investment climate rankings for 2023. Moving up three places, Morocco now holds the 82nd position worldwide in the “Dhaman” composite index, reflecting its growing attractiveness as an investment destination.

The 2023 “Dhaman” index evaluates 158 countries, including 21 Arab nations, based on 190 composite and sub-indicators from 33 international sources. Morocco’s advancement is significant as it maintained a mid-level position among Arab countries, alongside Jordan, Algeria, and Egypt, all surpassing the Arab average.

Despite the overall decline in the average Arab ranking, which fell by two places to 104th globally, Morocco’s improvement highlights its resilience and positive investment climate. The Gulf Cooperation Council (GCC) countries led the Arab rankings, with the United Arab Emirates ranking first among Arab countries and 18th globally, followed by Qatar and Saudi Arabia.

The report also detailed Morocco’s performance across various indicator groups. In the economic performance indicators, which include 14 main and sub-indicators, the average ranking of Arab countries fell to 92nd globally. In political and security performance indicators, comprising 37 main and sub-indicators, the average ranking of Arab countries dropped to 108th globally. However, in the legislative and regulatory environment indicators, Morocco, along with other Arab countries, showed improvement, advancing three places to 99th globally.

In the production factors indicators, which include 84 main and sub-indicators, the average ranking of Arab countries declined to 105th globally. Despite these fluctuations, Morocco’s specific progress stands out, particularly in comparison to other non-GCC Arab countries.

The report also highlighted the performance of other Arab nations. While the GCC countries secured the top ranks, countries like Tunisia, Iraq, Libya, Djibouti, Mauritania, Lebanon, Syria, Yemen, Palestine, Sudan, and Somalia lagged significantly, ranking between 114th and 158th globally.

The study emphasized that Saudi Arabia was the top destination for investment projects, with 110 projects, while Mauritania recorded the highest investment cost at $34 billion for a single renewable energy project. However, foreign direct investment inflows to Arab countries witnessed a 12.4% decline, reaching $67.7 billion in 2023.

The Arab Investment and Export Credit Guarantee Corporation (Dhaman), established in 1974 and headquartered in Kuwait, continues to provide crucial insights and support for investment in the Arab world. Morocco’s advancement in the rankings is a positive indicator of its commitment to improving its investment climate, which bodes well for its economic future.