Morocco's economy continues to demonstrate its resilience and growth potential, with private investment reaching a remarkable milestone in 2022.
Casablanca's new business and office district © Mena Today
Morocco's economy continues to demonstrate its resilience and growth potential, with private investment reaching a remarkable milestone in 2022.
Minister Delegate for Investment, Mohcine Jazouli, announced that private investments in Morocco surged to MAD 100 billion ($10 billion) during the year.
While this figure is not yet officially confirmed, it reflects a promising trend in the country's economic landscape. Morocco's commitment to fostering a conducive environment for private investment is yielding substantial results, setting it apart from its North African neighbors, Algeria and Tunisia.
The National Investment Commission played a pivotal role in this success, approving 42 projects valued at MAD 7.4 billion (approximately $743.8 million) across nine regions and over 90 provinces and prefectures.
These projects span various sectors, emphasizing job creation as a key objective. The projects are expected to generate approximately 16,200 jobs, comprising 5,900 direct positions and 10,300 indirect employment opportunities.
Morocco's Ministry of Investment also highlighted its approval of 166 investment projects with a total value of MAD 218 billion ($21.9 billion) since 2021 through the investment commission.
These projects span 16 sectors and are projected to create a significant 110,500 jobs. Notably, Moroccan companies account for 77% of the total investment share, underlining the country's commitment to local entrepreneurship and economic growth.
This robust private investment climate in Morocco stands in contrast to the economic challenges faced by neighboring Algeria and Tunisia.
While each country has its unique economic circumstances, Morocco's proactive approach to fostering a conducive investment environment is undoubtedly a contributing factor to its economic success.
Minister Mohcine Jazouli has consistently emphasized the importance of private investment in driving economic reforms and sustaining Morocco's resilience in the face of global economic uncertainties.
As the kingdom continues to attract private investments and promote job creation, it solidifies its position as an economic leader in the region, outpacing its peers in the process.
Tunisia's prime minister urged European countries on Wednesday to increase financial assistance to his country and others to help tackle the flow of migrants from sub-Saharan Africa.
Egypt will halt load-shedding power cuts during the summer as of Sunday, after some natural gas shipments arrived, Prime Minister Mostafa Madbouly said on Wednesday, in a bid to end a crisis that inconvenienced a population of 106 million.
More than 10 million Sudanese, or 20% of the population, have been driven from their homes since the war there began, the International Organization for Migration (IOM) said on Tuesday, as the world's largest displacement crisis continues to worsen.
To make this website run properly and to improve your experience, we use cookies. For more detailed information, please check our Cookie Policy.
Necessary cookies enable core functionality. The website cannot function properly without these cookies, and can only be disabled by changing your browser preferences.