Geneva - North Africa is becoming more attractive as an investment destination as FDI investors returned enthusiastically to Egypt and Morocco, according to the 2015 "Africa Attractiveness Survey".
Geneva – North Africa is becoming more attractive as an investment destination as FDI investors returned enthusiastically to Egypt and Morocco, according to the 2015 “Africa Attractiveness Survey”.
A re-emergence of North Africa was noted in 2014 with FDI projects up 61% in Egypt and 52% in Morocco, said the report quoted by Swiss agency “Ecofin”.
“Morocco became the third-largest recipient of foreign investment in Africa in 2014, with 67 FDI projects, up 52.3%. French companies outpaced Spanish rivals to become Morocco’s leading external direct investors in 2014. Financial services and TMT were the favorite sectors for investment”, wrote the report.
It underlined that Morocco benefits from its historic ties and proximity to Western Europe, a proactive FDI policy, and availability of skilled workers at lower wage rates than those in most developed markets.
“The country has escaped much of the political turmoil that has affected its North African neighbors, and also benefits from stable government,” it stressed.