In response to its loss of influence in Morocco, France is no longer the first foreign direct investor in the kingdom. The former colonial rule is now being driven out by the United States, according to statistics released by the Exchange Office (OC).
Contrarily, a settlement with the United States, which made its decision in December 2020 to recognize Morocco in the Sahara region, is in the spotlight.
In detail, France’s foreign direct investment reached 3.78 billion dirhams (MMDH) at the end of June 2022, a decrease of 2.2 MMDH from the previous year. Uncle Sam’s country accounted for 38% (!) of her IDE for a total of 6.16 MMDH.
This is more than any amount recorded since 2014. However, the OC does not provide a breakdown of US IDE, only explaining that most IDE is generally concentrated in the chemical (MMDH 6.07) and real estate (MMDH 5.22) sectors.
But in any case, given Washington’s decision to make Morocco a leading investment platform in Africa, we must believe that it is likely to continue to grow.
In this sense, the agreement formally recognizing Morocco’s sovereignty over the Sahara, signed in Rabat on December 23, 2020, also includes the re-establishment of ties with Israel based on the Abraham Accords, The United States Government has issued a letter of intent to open an antenna of its Prosper Africa initiative for the African continent in the United Kingdom.
Knowing that A memorandum of understanding to withdraw a $3 billion investment in Morocco was also discussed. Finally, note that just behind the US and France are the UK, the United Arab Emirates, Spain and Ireland, in that order, longtime customers.
Most of them also see a decline in foreign direct investment, which is disproportionate to France.