In recent years, Moroccan authorities have been successful in attracting a relatively consistent flow of foreign capital, mainly relying on the national privatization program, the conversion of foreign debt into investments and the operations of public services concessions. Other sectors have taken over, including banking, tourism, energy and industry. However, the level of FDI remains modest and could make a stronger contribution to the launching of the country's economy. Recently, many big groups have installed their operations in Morocco as well as the French companies Safran and Renault.
After a decline in 2009-2010 due to the global recession, FDI flows into Morocco began to rise again in 2011despite the context of the Euro-zone crisis and the revolutions of the "Arab Spring". In 2013, Morocco was the recipient of the largest amount of FDI in the Maghreb region and the country is classified among the top on the African continent. It is also important to note that the country went up eight places in the classification Doing Business 2014 issued by the World Bank in relation to its business climate (it ranks 87 out of 189 countries). France, Saudi Arabia and Spain are the three main investors. FDI is mainly concentrated in the real estate sector, followed by industry and tourism. The country's stability should attract investors. In addition, a vast project of economic modernization has been launched to boost FDI. Casablanca in particular, aims to become an international financial center.
|Morocco||Middle East & North Africa||United States||Germany|
|Index of Transaction Transparency*||7.0||6.0||7.0||5.0|
|Index of Manager’s Responsibility**||2.0||5.0||9.0||5.0|
|Index of Shareholders’ Power***||4.0||9.0||5.0|
|Index of Investor Protection****||5.0||5.0||8.3||5.0|
Source: Doing Business - Last Available Data.
Note: *The Greater the Index, the More Transparent the Conditions of Transactions. **The Greater the Index, the More the Manager is Personally Responsible. *** The Greater the Index, the Easier it Will Be For Shareholders to Take Legal Action. **** The Greater the Index, the Higher the Level of Investor Protection.
|Foreign Direct Investment||2011||2012||2013|
|FDI Inward Flow (million USD)||2,568||2,728||3,358|
|FDI Stock (million USD)||44,516||45,246||50,280|
|Performance Index*, Ranking on 181 Economies||96||-||-|
|Potential Index**, Ranking on 177 Economies||69||-||-|
|Number of Greenfield Investments***||94||63||43|
|FDI Inwards (in % of GFCF****)||8.4||9.1||10.2|
|FDI Stock (in % of GDP)||44.9||47.1||47.8|
Source: UNCTAD - Last Available Data.
Note: * The UNCTAD Inward FDI Performance Index is Based on a Ratio of the Country's Share in Global FDI Inflows and its Share in Global GDP. ** The UNCTAD Inward FDI Potential Index is Based on 12 Economic and Structural Variables Such as GDP, Foreign Trade, FDI, Infrastructures, Energy Use, R&D, Education, Country Risk. *** Green Field Investments Are a Form of Foreign Direct Investment Where a Parent Company Starts a New Venture in a Foreign Country By Constructing New Operational Facilities From the Ground Up. **** Gross Fixed Capital Formation (GFCF) Measures the Value of Additions to Fixed Assets Purchased By Business, Government and Households Less Disposals of Fixed Assets Sold Off or Scrapped.
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Last Updates: February 2015