Morocco’s allure as an investment destination is multidimensional, with its touristic attractions, capacity for renewable energy, and strategic position between Africa, Europe, and the Middle East.
Morocco is a land of numerous treasures. From its mesmerizing blue city of Chefchaouen to its snow-capped Atlas Mountains, the country’s beauty is a muse for creatives. Morocco’s marvel as an ideal investment destination, however, goes beyond its beguiling beauty to its strategic position as a gateway to Africa. “I see a total shift in the influence of Morocco on the whole continent,” says Jean Baptiste Boulay, CEO of Bayer.
Indeed, Morocco’s global influence is rising. In October 2023, the International Monetary Fund and World Bank held their annual meeting for the first time in half a century on African soil in Marrakech. A major event for the international finance community, the annual meeting brought together leading figures, finance ministers, and central bank governors from 189 member countries, as well as representatives of the private sector, NGOs, and academia. This event was proof of Morocco’s high capacity in hosting international conferences and its growing importance on the African continent.
“Morocco has established a legislative arsenal that encourages the systematic integration of energy efficiency measures in all sectors.”
Mohamed Benyahia, General Director of AMEE, Moroccan Agency for Energy Efficiency.
Morrocco launched a new investment charter with the aim of making the country a hub for foreign direct investment at the end of 2022. The charter introduces investment support systems through subsidies or grants for investment projects, equal treatment of investors regardless of their nationality, and special incentives for Moroccan companies to establish an international presence, among numerous features focused on improving the nation’s business climate.
Complementing the nation’s drive to become an FDI hub, Morocco’s multilingual workforce proficient in different languages, including French, Arabic, and English, makes the country stand out as a paragon for foreign investors.
Morocco has been pursuing proactive policies in the use of renewable energy sources for electricity generation. The nation aspires to expand its share of renewable electricity capacity to 52% by 2030, relying on solar, wind, and hydropower sources. “Morocco has enormous potential for wind and solar resources, especially in the south of the country and in the Sahara Desert.
We have solid experience in the deployment of energy infrastructures, good engineering competencies, and skilled technicians. We also have the political commitment of His Majesty the King, the ministers, and many local industrial players,” says Loïc Jaegert-Huber, North Africa Regional Director of Engie.
Based on its target of reducing energy consumption by 20% by the year 2030, Morocco is also enhancing its technologies, systems, and processes to promote energy efficiency.
Morocco has established a legislative arsenal that encourages the systematic integration of energy efficiency measures in all sectors. We are working on a plan to enhance and accelerate energy efficiency, but also to go beyond and to talk about resource efficiency, including circular economy and decarbonization,
Mohamed Benyahia, General Director of AMEE, Moroccan Agency for Energy Efficiency.
Over the years, the country has also been transforming itself into an industrial powerhouse in Africa. Morocco ranks first in Africa in the automotive and aeronautics industries, the latter of which accounts for over US$2 billion of revenue in exports.
Morocco’s capacity in industrial production supports its sustainable development vision in the energy sector. “For one of the wind farm projects we developed, we completed the manufacturing of the turbine blades and the turbine tower. This is now produced in Morocco for export.
With the development of green hydrogen, we hope to attract more industries in this field,”
Mustapha Bakkoury, President of Masen.
Through its bustling ports and industrial zones and a geo-strategic position that makes it a springboard to the entire African continent, Morocco is a thriving investment destination that is beyond compare.
Driving Sustainable Innovation
In North Africa
Morocco’s allure as an investment destination is multidimensional, with its touristic attractions, capacity for renewable energy, and strategic position between Africa, Europe, and the Middle East.
