Private Investment in Morocco Surges to $10 Billion in 2022

Friday 26 January 2024 - 10:16

Morocco witnessed a significant surge in private investment, reaching a total of 100 billion Moroccan dirhams, equivalent to nearly $10 billion, in 2022, as announced by Minister of Investment Mohcine Jazouli on Thursday in Rabat.

Although official figures have not yet been released, the minister's estimates indicate that approximately $10 billion in private investment flowed into the North African nation last year. "The 2022 numbers indicate a positive trend," Jazouli informed reporters, expressing confidence that Morocco is on track to achieve its private investment goals set for 2022-2026. "The outlook is very promising, with all indicators of domestic private investment signaling green," he added.

Jazouli disclosed that his department has initiated a study in collaboration with the High Commission for Planning to establish a national investment and business climate observatory, leveraging artificial intelligence and modern investment calculation mechanisms.

Highlighting the achievements of the 3rd National Investment Commission, the minister noted that it set records for private investment by approving 42 projects totaling $740 million. These projects, in alignment with the principles of Morocco's new Investment Charter, span various sectors and regions across the country.

Specifically, the investments encompass nine regions and over 20 provinces, targeting sectors known for their high job creation potential, Jazouli emphasized. He indicated that these approved projects, all led by private companies, are anticipated to generate over 16,200 jobs, including 5,900 direct and 10,300 indirect employment opportunities.

Since October 2021, Morocco's investment commission has greenlit 166 projects valued at $21.8 billion. Of this investment, 77% originates from Moroccan companies, with the projects spanning 16 sectors and projected to create 110,500 jobs.