The Moroccan authorities are welcoming the increase in foreign direct investments, which reached record levels at the start of 2024, after €18.6 billion had been mobilised in 2022-2023.
The Moroccan Minister for Investment, Convergence and the Evaluation of Public Policies, Mohcine Jazouli, announced on Monday before the House of Representatives that almost 200 billion dirhams (€18.6 billion) in private investment had been mobilised during 2022 and 2023.
Responding to an oral question in Parliament on the private investment balance sheet for the period 2022-2024, Jazouli explained that these estimates are based on the monthly reports from the Ministry of the Economy and Finance, as well as on the official data published each year in June by the High Commission for Planning regarding gross fixed capital formation.
The Minister stressed that the Ministry is relying on these figures pending the development of the Moroccan Investment Observatory. The latter, in partnership with various bodies and institutions, will provide indicators for monitoring the national strategy for developing private investment.
Jazouli also pointed out that achieving the investment targets set by King Mohammed VI of Morocco for the period 2022-2026 is a priority for the government. He noted that the indicators for 2024 and beyond are very positive.
Thanks to the new Moroccan Investment Charter, the Investment Commission has approved projects worth 173 billion dirhams in five meetings, creating around 100,000 jobs. The Minister added that 82 percent of these projects have already started construction and that foreign direct investment reached record levels at the beginning of 2024.
In response to another question on the complementarity between public and private investment, Jazouli indicated that Morocco is banking on productive investment to strengthen the role of the private sector and build a strong economy.
He stressed that public investment is essential to stimulate private investment, particularly in infrastructure and energy in order to improve the competitiveness and attractiveness of the regions.
The Minister stated that the Ministry has drawn up a national strategy for the development of private investment up to 2026, taking account of regional and sectoral dimensions. This strategy is based on a collaborative approach involving all public and private sector players, at both central and regional level, in order to mobilise around common objectives and ensure consistency with planned public investment.
MN/Sf/ac/fss/GIK/APA
Morocco: FDI up to €18.6bn in 2022, 2023
