Morocco’s investment rate is among the highest in the world, representing 30% of the country’s GDP, whereas the world average is 20%, announced Mohcine Jazouli, Minister Delegate in charge of Investment, Convergence, and Evaluation of Public Policies.
Speaking before the House of Representatives yesterday, Jazouli outlined Morocco’s achievements in terms of investments. He stressed that the 30% investment rate has helped Morocco achieve a qualitative leap forward in terms of infrastructure, including motorway networks, high-speed train (TGV) or the Tangier-Med port.
The projects launched in strategic sectors across the country attracted more foreign direct investment (FDI) and boosted the industrial structure in fast-growing industries such as aeronautics and automotive, Jazouli explained.
“The private sector contributes with only one third of the total of these investments,” he noted, emphasizing the need to implement a new strategy that aims to achieve a more substantive economic take-off and create more jobs.
Jazouli argued that the strategy should stimulate private investment to achieve on average two-thirds of total investment by 2035, as detailed in Morocco’s New Development Model (NMD).
He stressed the importance of preserving the positive indicators of foreign investment and direct investments to achieve Morocco’s strategic priorities in terms of creating jobs, increasing added value, and protecting the country’s sovereignty.
Morocco’s efforts in the past two decades to improve its business climate have contributed to making the country one of the best investment destinations in Africa, recalled the Moroccan deputy minister.
He concluded his speech by pointing out the need to address several domestic and global challenges regarding real estate, administrative procedures, energy costs, human capital, financing, infrastructure, and logistics.