Morocco’s investment rate is among the highest in the world, representing 30% of the country’s gross domestic product (GDP), while the world average is at 20%, according to Mohcine Jazouli, Minister Delegate in charge of Investment, Convergence, and Evaluation of Public Policies.
Speaking before the House of Representatives this Wednesday, January 11, Jazouli exposed Morocco’s achievements in investment.
He stressed that the investment rate of 30% has enabled Morocco to achieve “a qualitative leap in infrastructure,” including highway networks, high-speed rail (TGV), or the Tangier-Med port.
The Minister Delegate for Investment aims to further promote the country’s strategic sectors to attract foreign investors and maintain a notable investment rate.
Projects launched in strategic sectors across the country “have attracted more foreign direct investment (FDI) and strengthened the industrial structure in high-growth sectors such as aeronautics and automotive,” said Jazouli.
While the private sector contributes only one-third of total investments, he noted that “there is a need to implement a new strategy to achieve a more substantial economic takeoff and create more jobs,” independently from the public sector.
Jazouli argued that the strategy should boost private investment to an average of two-thirds of total investment by 2035, as outlined in Morocco’s New Development Model (NMD).
He stressed the importance of preserving the positive indicators of foreign and direct investment to achieve Morocco’s strategic priorities of creating jobs, increasing added value, and “protecting the country’s sovereignty.”
The efforts made by Morocco over the past two decades to improve its business climate have helped make the country one of the best investment destinations in Africa, as various data proved.
The minister concluded his speech by highlighting the need to address several national and global challenges regarding real estate, administrative procedures, energy costs, human capital, financing, infrastructure, and logistics.
Mohcine Jazouli additionally announced that the transfers of Moroccans residing abroad (MRE) reached MAD 100 billion in 2021, specifying that 10% of this amount was directed towards investment. The official says the percentage is expected to rise.
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