Casablanca – Between 2021 and 2024, Morocco has achieved significant progress as an attractive investment destination, with over 170 investment agreements totaling around $21 billion signed, leading to the creation of more than 115,000 jobs, announced Ryad Mezzour, the Minister of Industry and Trade.
Mezzour emphasized Morocco’s remarkable economic growth under the leadership of King Mohammed VI, attributing the country’s success in attracting foreign direct investment (FDI) to a proactive economic liberalization strategy. Notably, Morocco boasts free trade agreements with over 100 countries, granting access to a vast market of 2.3 billion consumers. It stands as the sole African nation with a free trade pact with the United States, further enhancing its global trade prospects.
Speaking at the ministerial roundtable on investment in Abu Dhabi, held alongside the 13th edition of the AIM (Annual Investment Meeting) 2024 Congress, Mezzour highlighted Morocco’s favorable economic environment. This environment has nurtured the emergence of national champions capable of competing on the global stage, positioning Morocco as a preferred investment hub in Africa and the MENA region. Mezzour emphasized the country’s modern infrastructure and stable political conditions, which underpin investor confidence and success.
The implementation of the new Investment Charter is instrumental in unlocking the potential of both domestic and international private investments, with a target of increasing private investments to two-thirds of total investment.
Morocco’s manufacturing sector has experienced significant growth, with 85% of its exports consisting of manufactured goods. The automotive industry, which currently produces 700,000 vehicles annually, aims to ramp up production to one million vehicles by 2025.
Mezzour also addressed pressing global challenges affecting geopolitics, economy, energy, water, and supply chains, advocating for a reevaluation of economic development models to ensure stability and foster private investment and entrepreneurship.
The minister’s participation in the AIM 2024 Congress included productive bilateral meetings with counterparts from various countries, particularly engaging with the UAE Minister of Foreign Trade to explore mutual investment opportunities and bolster bilateral trade relations.
The AIM 2024 Congress, attended by over 900 speakers, including more than a hundred ministers and representatives from banks, financial markets, companies, and exhibitors, facilitated extensive discussions on investment, innovation, technology, startups, SMEs, entrepreneurship, regional dialogues, and the future of finance.
Morocco’s achievement of surpassing investment goals reflects its commitment to sustained economic growth, leveraging strategic partnerships and fostering an enabling environment for both domestic and international investors. With a robust economic vision and proactive investment strategies, Morocco is poised to further enhance its position as a leading investment destination in the region and beyond.
