Morocco’s Investment Journey: UAE Emerges as Top Destination
Morocco’s investment landscape is shifting, with the United Arab Emirates (UAE) emerging as a prime destination for Moroccan investors. According to the Moroccan Foreign Exchange Office’s annual report on the balance of payments and the status of international investment, the UAE attracted a staggering MAD 2.6 billion (approximately USD 285 million) in outward foreign direct investment (FDI) from Morocco in 2023.
This surge in Moroccan investment highlights the UAE’s growing appeal as a global business hub. The country’s strategic location, business-friendly environment, and robust infrastructure have made it a magnet for foreign investment in recent years. The UAE has also implemented several initiatives to attract foreign investment, such as the introduction of long-term visas for investors and entrepreneurs.
Where is Moroccan Investment Flowing?
The UAE wasn’t the only beneficiary of Moroccan investment. Other key destinations for Moroccan FDI in 2023 included:
Senegal: MAD 1.4 billion (approximately USD 153 million)
France: MAD 1.1 billion (approximately USD 120 million)
United States: MAD 0.8 billion (approximately USD 88 million)
Belgium: MAD 0.5 billion (approximately USD 55 million)
These five countries collectively accounted for a significant 74.9% of Morocco’s total outward FDI in 2023.
Africa: A Continent Ripe for Investment
The report also highlighted a significant trend: the growing importance of Africa in Morocco’s investment strategy. In 2023, Africa accounted for 19.4% of new Moroccan FDI acquisitions, totaling MAD 4.9 billion (approximately USD 538 million). This signifies Morocco’s commitment to fostering economic growth and development within the African continent.
A Future of Growth and Collaboration
Morocco’s increasing outward FDI, particularly towards the UAE and other African nations, signifies the country’s growing economic strength and its ambition to diversify its investment portfolio. This trend is likely to continue as Morocco leverages its strategic location and strengthens its ties with key global partners.
