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Enhancing Morocco's Financial Landscape: Key to Attracting Global Investors
Morocco must revitalize its financial sector to enhance its appeal as a business hub, according to the Milken Institute's 2024 Global Opportunity Index (GOI). Despite efforts to improve business allure, Morocco ranks 80th out of 129 countries in business infrastructure.
The GOI evaluates countries based on 100 indicators across five categories: Business Perception, Economic Fundamentals, Financial Services, Institutional Framework, and International Standards and Policy. Morocco displayed mixed results, ranking 56th in International Standards and Policy, indicating good alignment with global norms.
However, the country placed 97th in Economic Fundamentals, highlighting areas that require attention to boost investment appeal. Positively, Morocco ranked 64th in Institutional Framework, showcasing strong institutional infrastructure favorable for investors.
In Financial Services, Morocco ranked 87th, underscoring the need to enhance its financial sector. The country also secured the 88th position in Business Perception, suggesting potential for improving investor perceptions.
The GOI, a robust predictor of capital movement, explains a significant portion of foreign direct investment (FDI) and portfolio inflows globally. Denmark leads this year's rankings, followed by Sweden, Finland, the United States, and the United Kingdom. Emerging Europe and Latin America also performed well in specific categories, with advanced economies dominating the top 20.
Morocco's journey towards becoming a formidable business destination hinges on strategic enhancements in its financial sector to attract more investors.