page_title: Economy of Morocco
section_title: Investment
hierarchical_section_title: Economy of Morocco / Investment
caption_attribution_description: English: A graph made by information of the world bank.
context_page_description: The economy of Morocco is considered a relatively liberal economy governed by the law of supply and demand. Since 1993, Morocco has followed a policy of privatization of certain economic sectors which used to be in the hands of the government. Morocco has become a major player in African economic affairs, and is the 5th largest African economy by GDP. The World Economic Forum placed Morocco as the 1st most competitive economy in North Africa, in its African Competitiveness Report 2014-2015.
  The services sector accounts for just over half of GDP; industry — made up of mining, construction and manufacturing — is an additional quarter. The sectors that recorded the highest growth are the tourism, telecoms, and textile sectors. Morocco, however, still depends to an inordinate degree on agriculture, which accounts for around 14% of GDP but employs 40–45% of the Moroccan population. With a semi-arid climate, it is difficult to assure good rainfall and Morocco's GDP varies depending on the weather. Fiscal prudence has allowed for consolidation, with both the budget deficit and debt falling as a percentage of GDP.
context_section_description: Morocco has become an attractive destination for European investors thanks to its relocation sites "Casashore" and "Rabatshore", and to the very rapid cost escalation in Eastern Europe. The offshoring sector in Morocco is of great importance as it creates high-level jobs that are generally accompanied by an influx of Moroccan immigrants. Noting however that human resources remain the major concern for companies seeking to gain a foothold in Morocco. In this regard, it has been deemed an important decision of the Moroccan government to accelerate training in the required disciplines.
  In a bid to promote foreign investments, Morocco in 2007 adopted a series of measures and legal provisions to simplify procedures and secure appropriate conditions for projects launching and completing. Foreign trade minister, Abdellatif Maazouz cited that these measures include financial incentives and tax exemptions provided for in the investment code and the regional investment centres established to accompany projects.
  These measures combined with actions carried out by the Hassan II Fund for Development increased foreign investments in Morocco by $544.7 million in 2007. 20% of these investments came from Islamic countries.
  Moroccan officials have heralded a significant increase in the amount of money Moroccan expatriates are sending home. Government efforts are underway to encourage Moroccans living abroad to increase their investments at home, and to allay concerns about bureaucracy and corruption. With money sent home by Moroccan migrants reaching $5.7 billion in 2007, Morocco came in second, behind Egypt, on the recent World Bank list of the top 10 MENA remittance recipient countries. Neighbouring Algeria ($2.9 billion) came in at number five. In fact according to the World Bank, remittances constituted 9.5% of GDP in Morocco in 2006.
caption: A graph by the World Bank showing an increase in remittances sent by overseas Moroccans.
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