Morocco has jumped from the 14th largest recipient of FDI in Africa in 2006, to the 5th in 2015. A total of $3.16 billion in FDI entered Morocco in 2015. While financial services, ICT, and media receive the highest share in terms of investments, the real estate, industry and tourism sectors are also of high interest for foreign investors.

Morocco FDI inflows

Source: UNCTAD

The five countries with the highest net investments in Morocco are France, Spain, the UAE, the KSA, and the U.S., followed by Kuwait, Switzerland, Italy, Turkey, and the UK.

Top FDI hotspots in Africa

Source: UNCTAD, 2015

Renewables are one of the key sectors that have been prioritized for foreign investment. Morocco is currently one of the fastest growing renewable energy markets in Africa. The Moroccan Agency for Solar Energy is seeking to attain $9 billion in investment by 2020. By 2030, Morocco aims to be generating 52% of its electricity from renewable energy, mainly solar, wind and hydroelectric power.

Morocco FDI Inflows (% of GDP)

Source: UNCTAD

The Moroccan government has sped up its reforms of the private sector in order to improve the country’s investment landscape in recent years. It is predicted that the current political stability and structural reforms will continue in the medium term. The World Bank forecasts that Morocco’s GDP will grow by around 3.8% in 2017. Moody's has changed the outlook on Morocco's Ba1 rating to positive from stable in February 2017. It is predicted that investors are likely to remain interested in the country.