UNCTAD: Morocco draws investment in hydrogen, energy and industry

Morocco is among the African economies attracting foreign investment in hydrogen, renewable energy, industrial development and logistics as investors increasingly target sectors expected to drive the next phase of global growth, according to the United Nations Conference on Trade and Development.

UNCTAD grouped Morocco with Egypt and South Africa as African economies benefiting from growing investment in these sectors in its World Investment Report 2026.

In Morocco, hydrogen, renewable power, industrial projects and logistics are emerging as key areas for investors seeking new production bases and access to strategic materials and supply chains.

The shift reflects a broader change in global investment patterns. Projects involving clean energy, artificial intelligence, semiconductors, critical minerals and advanced manufacturing accounted for 44% of the value of newly announced investment projects worldwide in 2025, up from 16% in 2020.

The value of those projects increased more than fivefold over the same period, rising from $109 billion in 2020 to $576 billion in 2025, according to UNCTAD.

Africa joins the investment race

Africa is increasingly part of this shift. The continent attracted about $70 billion in foreign direct investment in 2025, its third-highest level since 1990, UNCTAD said.

However, the value of newly announced greenfield investment projects in Africa fell by about one-third during the year, even as the number of projects increased.

The figures suggest that investors launched more projects but generally committed less capital to each one.

Gulf and Asian investors are also becoming increasingly active across Africa, particularly in energy, logistics, infrastructure and real estate.

For African economies, UNCTAD said the challenge is to ensure that rising foreign investment generates broader economic benefits rather than remaining concentrated in individual projects or sectors.

For Morocco, this means linking major investments in hydrogen, renewable energy and industry with domestic manufacturers, suppliers and service companies.

Such connections can help create jobs, transfer technology and strengthen local production capacity, according to UNCTAD.

Global competition for investment intensifies

The competition for strategic investment is also intensifying worldwide.

Global foreign direct investment increased 6% in 2025 to about $1.6 trillion, while developing economies received about $901 billion, according to UNCTAD.

Investment remains highly concentrated, however. More than 80% of global foreign investment flows went to the 20 largest recipient economies in 2025.

Against this backdrop, Morocco’s ability to attract investment into hydrogen, renewable energy, industrial production and logistics could increasingly depend on how effectively the country connects foreign capital with its domestic economy.

The broader challenge will be to turn major investment projects into deeper local supply chains, technology transfers and employment opportunities rather than simply increasing the volume of foreign capital entering the country.