Foreign investment in Morocco sees significant growth in 202
- Record figures for foreign direct investment
- Regional industrial and financial platform
- Industrial and green capitals for key sectors
- Real but uneven impact
During the presentation of its draft budget for 2026, Morocco's Ministry of Investment, Convergence and Public Policy Evaluation stated that 2024 was the second-best year in the country's history in terms of foreign direct investment flows and that the figures for 2025 are expected to far exceed those of the previous year.
Its political stability, modern infrastructure and strategic geographical location at the crossroads of Europe, sub-Saharan Africa and the Middle East have enabled Morocco to position itself as a privileged partner for international investors.
Record figures for foreign direct investment
According to figures presented by the Ministry of Investment, foreign direct investment flows amounted to around $4.3 billion in 2024, making it the second-best year in history after 2018.
The Ministry announced that this positive momentum is continuing in the current year, with revenues reaching 4 billion dollars at the end of September 2025, an increase of 39.5% compared to the same period in 2024, with an increase of 1.2 billion dollars.
This dynamism is due, among other factors, to the activation of the new Investment Charter. Throughout the year, the National Investment Committee has approved investment projects in all regions of the country, with a total value of more than 4 billion dollars, which will enable the creation of more than 179,000 jobs.
The year 2025 has seen some very significant results, such as the following:
- The ratification of 76 agreements and annexes within the framework of the basic support system, with an investment value of $10 billion, which will provide 35,000 jobs.
- The approval of three strategic projects worth $500 million, which will create 21,000 jobs.
- Giving strategic status to five other projects with a total value of more than 3 billion dollars, which will create 15,600 jobs.
Regional industrial and financial platform
In a global context marked by trade tensions and economic slowdown, Morocco is committed to structural reforms and opening up to foreign capital in order to become a regional industrial and financial platform.
The most notable data from the Ministry reveals that 60% of the investments approved during 2025 and completed by Moroccan companies involve foreign investment from various countries, including Germany, Saudi Arabia, Sweden, Norway, China, the United Arab Emirates, Egypt, Spain and the United States.
In terms of geographical distribution, the results reveal that during 2025, three national investment committees were held, during which investment projects in 11 regions and 29 provinces were studied:
- The Casablanca-Settat region topped the list, with 20 projects studied.
- The Tangier-Tetouan-Al Hoceima region recorded 17 projects.
- The Rabat-Salé-Kenitra region had 12 projects.
- The Marrakech-Safi region had 6 projects examined.
- Multi-regional projects: 7 in Tangier-Asilah, 6 in Nador, Casablanca and Fahs-Anjra, and 5 in Rabat and Marrakech.
According to the results of the implementation monitoring, 87% of the projects approved after October 2021 have begun to be completed. The detailed figures show that 90 projects (31%) have been completed, while 64 projects have reached a progress rate of 75% (22%), 50% (12%) for 37 projects and 25% (19%) for 56 projects, while 38 projects (13% of the total) have not yet begun to be completed.
Industrial and green capitals for key sectors
Thanks to the industrial, port and energy projects launched by the country, Morocco recorded a 63% increase in foreign direct investment in the first quarter of 2025, renewing investor confidence in the country's competitiveness, now geared towards sectors with higher added value.
According to experts, major infrastructure projects play a central role in reducing logistics costs, increasing the reliability of supply chains and offering credibility to investors. Indeed, the port of Tangier Med, the new Nador West Med platform, the new Dakhla Atlantic Port and the extension of railways and motorways reinforce Morocco's position as a regional industrial and logistics hub.
Among the most attractive sectors for investment are the automotive sector and its equipment; logistics and ports; renewable energies; and modernised export industries such as textiles, agribusiness, electronics, tourism and entertainment.
However, despite a considerable shift towards higher value manufacturing, logistics and real estate remain attractive sectors that require greater local integration and research and development in order to increase their added value.
Real but uneven impact
Foreign direct investment in Morocco has a significant and real impact, the magnitude of which depends on the share of goods and services produced in Morocco in the value chain. However, the goal of achieving greater local sourcing for a more lasting impact has not yet been fully realised.
On the ground, the problem lies in the impact of foreign direct investment on local employment. Industrial and logistics projects create direct jobs in factories and platforms and indirect jobs among suppliers and service providers.
Regions such as Tangier and Kenitra, which are home to entire industrial clusters in the automotive sector, are already benefiting from this dynamic thanks to the presence of assembly plants (Renault, Stellantis) and technical training centres. Other areas of the country, however, remain less affected.
In addition to the impact, which remains uneven across different regions due to a lack of active training strategies, support for local SMEs and technology dissemination, Morocco faces strong competition on the African continent, which is becoming increasingly intense.
Countries such as Egypt, Kenya and Senegal are multiplying free trade zones and favourable tax policies to attract investors. In this context, Morocco will have to accelerate its reforms to stay ahead, thanks to the quality of its logistics chains, its regulatory framework and its free trade agreements.