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Marrakech – Despite commendable efforts in recent years to boost its business attractiveness, Morocco still has a long way to go on the financial and economic fundamental front, according to the Milken Institute’s 2024 Global Opportunity Index (GOI).
The index, which aims to assess the attractiveness of the business and investment environment in various countries, ranked the North African country 80th out of the 129 countries whose business infrastructure was evaluated by the Milken Institute in this year’s report.
Notably, the institute’s assessment is based on 100 indicators divided into five main categories: Business Perception, Economic Fundamentals, Financial Services, Institutional Framework, and International Standards and Policy.
Morocco’s performance in the GOI was mixed, with varying rankings across different categories.
The country came in 56th position in the International Standards and Policy category, reflecting a good alignment with international norms.
However, it ranked 97th in the Economic Fundamentals category, indicating challenges that need to be addressed to enhance the country’s investment attractiveness.
On a positive note, Morocco stood out in the Institutional Framework category, ranking 64th in the 2024 Global Opportunity Index report.
This ranking reflects the strength of Morocco’s institutional infrastructure, which is a favorable factor in attracting investors and fostering a conducive business environment.
Regarding the Financial Services indicator, Morocco ranked 87th, highlighting the need to strengthen the financial sector and make it more attractive to investors.
The country also ranked 88th in the Business Perception indicator, suggesting room for improvement in investors’ perceptions of the business environment in the country.
Read also: Foreign Investments in Morocco Plunge by 50% in 2023, Echoing Global Trend
The GOI remains a strong predictor of capital movement 10 years after its inception, with the index alone explaining 64.7 percent of the variation in foreign direct investment (FDI) per capita and 51.7 percent of portfolio inflows per capita to countries worldwide.
Denmark topped this year’s rankings, followed by Sweden, Finland, the United States, and the United Kingdom.
Emerging and Developing Europe stood out with the highest average percentage among emerging and developing economies.
Latin America and the Caribbean excelled in Economic Fundamentals, while the top 20 countries with the highest scores in the index were all Advanced Economies.
