In a recent report published by the Arab Monetary Fund (AMF), Morocco has solidified its position as the third-highest recipient of foreign investment within the Middle East and North Africa (MENA) region. Notably, the North African nation achieved a remarkable feat by attracting an impressive total of $15.3 billion in foreign direct investment (FDI) during the calendar year of 2022. This milestone underscores Morocco’s strategic allure and underscores its pivotal role in the economic dynamics of the MENA region.
Leading the pack in this FDI race, Qatar emerged as the largest recipient, with a substantial inflow of approximately $29.7 billion in foreign investment. In close pursuit, Saudi Arabia followed with a commendable figure of $23.2 billion in investments. The United Arab Emirates secured its place in the fourth position, netting nearly $10.8 billion in FDI, while Egypt clinched the fifth spot with an impressive $10.6 billion in FDI during the year 2022.
The comprehensive report, which delved into the economic evolution of the region over the past two decades, revealed a notable resilience in the face of significant challenges. This includes the global market crash of 2008 and the unprecedented impact of the COVID-19 pandemic in 2020. Despite these obstacles, the MENA region continued to serve as a magnet for foreign capital.
It is essential to highlight that even amidst the turmoil of the global market collapse in 2008, the MENA region boasted an impressive record, attracting approximately $167.9 billion in FDI. This resounding testament to its enduring appeal among international investors, even during periods of economic turbulence, underscores its stability and robustness as a destination for foreign capital.
However, it was the year 2022 that truly stood out as a banner year for FDI in the MENA region, witnessing a historic influx of nearly $200 billion in investments. Over the past two decades, an impressive 9,854 foreign companies have undertaken substantial investments in the Arab region. Collectively, they have injected an astounding sum of over $1.5 trillion into a diverse array of projects spanning various sectors, with notable emphasis on renewable energy, chemicals, industry, and energy, among others. This remarkable tally comprises a total of 16,153 ventures, signifying the region’s diversified investment landscape.
Morocco’s ascent to the third position in FDI recipient rankings underscores its growing prominence as an attractive investment destination within the MENA region. With a resilient and evolving economy, the nation continues to command the attention of discerning investors and reinforces its pivotal role in shaping the economic landscape of North Africa.