Rabat – The Moroccan Agency for Investment and Export Development (AMDIE) and the International Finance Corporation (IFC) have signed a partnership agreement on Friday. The deal aims to boost the inflow of investments in Morocco and simulate the expansion of Moroccan companies across the African continent.
The agreement was signed between Ali Seddiki, AMDIE Managing Director Ali Seddiki and Cheick-Oumar Sylla, IFC Regional Director.
This marks a milestone in the ongoing collaboration between the two entities, according to a statement.
Speaking about the partnership, Seddiki emphasized its significance, describing it as a pivotal step to capitalize on the current wave of investment in Morocco.
“The partnership is a lever to support and facilitate the development of private investments in crucial areas such as energy transition, mobility, and sustainable textiles,” Seddiki said.
The collaboration also aims to conduct comprehensive studies on the trends and patterns of Foreign Direct Investments (FDI) in Morocco. The research would provide insights that would pave the way for proactive measures to attract and retain foreign investors.
In addition, the partnership seeks to encourage the growth of Moroccan companies throughout the African continent.
On his part, Sylla also emphasized the strategic importance of the agreement, describing it as “an essential catalyst to stimulate and intensify private investments in Morocco, thus strengthening the country’s economic momentum.”
Sylla expressed the IFC’s determination not only to draw foreign investments into Morocco but also to actively support the expansion of Moroccan enterprises within the broader African sub-region.
Read Also: AMDIE to Organize Roadshow to Promote Morocco-China Investments
In recent years, Morocco has emerged as a world-class investment destination thanks to dedicated government policies, and massive infrastructural projects.
In August 2023, Morocco secured the third spot on the list of Arab countries, attracting the highest volume of FDI in 2022, according to a report from Fanack, a MENA media organization.
According to data from the Arab Corporation for the Guarantee of Investment and Export Credit, which was cited in the report, Morocco amassed $15.3 billion in FDI at the end of 2022.
With the figure, Morocco joined the list of the top five countries that attracted 88% of investments flowing into Arab countries. The list includes Egypt, Qatar, Morocco, Saudi Arabia, and the United Arab Emirates.
Unlike Egypt and Qatar, which can attribute their successes in foreign investments to political shifts and extraordinary regional events, Morocco has prioritized FDI in a long-standing strategy since 2010. This strategy aims to turn the country into an industrial hub and reduce reliance on imports.
