COMPLETE GUIDE FOR 4X TRADING IN MOROCCO
In recent years, Moroccan authorities have been successful in attracting a relatively consistent flow of foreign capital, mainly relying on the national privatisation programme, the conversion of foreign debt into investments and the operations of public services concessions. Other sectors have been dominated by foreign investment, including banking, tourism, energy and industry. However, the level of FDI remains modest and could make a stronger contribution to the economic take-off. The country has also been pursuing a policy of foreign investment, which is mainly targeting the countries of sub-Saharan Africa.
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After a decline during the global recession, FDI flows to Morocco increased in 2014 and 2015, exceeding USD 3 billion. After falling by 29% to USD 2.32 billion, FDI inflows picked up in 2017 to USD 2.66 billion (15.4% y-o-y increase) (UNCTAD World Investment Report 2018). Nonetheless, FDI inflows fell again by 10% (y-o-y) in the first two months of 2018 to USD 340 million (Moroccan Foreign Exchange Office). Morocco has launched a vast project of economic modernisation to attract more FDI. Casablanca in particular aims to become an international financial centre. The construction of Ouarzazate Solar Power Station is expected to cost a total of EUR 2 billion. In 2016, a new investment charter was adopted to help restructure investment promotion activities under the auspices of a centralised agency and to develop free-trade zones in each of the 12 regions of the country. Morocco is ranked 69th out of 190 economies by the World Bank in its Doing Business 2018 report, dropping one spot compared to 2017.
Traditionally, France, Saudi Arabia and United Arab Emirates have been the three main investors. FDI is mainly concentrated in the real estate sector (more than half of total inflow), retail and manufacturing.