Friday, June 25, 2021

Morocco Second Largest African Investor in France in 2020

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Rabat – In 2020, Morocco became the second biggest African investor in France, representing a 0.5% share of France’s total foreign investment.

According to Foreign Investments in France, an annual report by Business France, the 0.5% share represents six Moroccan projects that ensured 40 jobs in France in 2020. This puts  Morocco as the 22nd largest foreign investor in general and the second-largest investor from Africa.

Compared to 2019, even though the number of projects shrunk from seven to six, Morocco rose from the 27th largest foreign investor to the 22nd. Morocco’s investment was responsible for 113 jobs in 2019, yet in 2020, marked by the COVID-19 pandemic, the number shrunk by 73 jobs, down to 40.

Tunisia, the leading African investor in France, has eight projects and created or maintained 194 jobs. It saw a decrease from nine projects to eight compared to 2019.

Read also: Minister: 10% of Moroccan Expats’ Money Transfers Directed to Investment

Overall, from African investors, Tunisia was the 20th largest investor in France, Morocco 22nd, and Cote d’Ivoire ranked 25th.

According to the annual report, in 2020, “France was the leading European recipient of job-creating investment from the North African countries, attracting 60% of North African projects in Europe, ahead of the United Kingdom (20%) and Romania (20%).”

In a broader sense, France was able to attract 1,215 investment opportunities in 2020, which either created or maintained 34,567 jobs. Despite the promising numbers, the number of projects is still 17% down compared to 2019.

Morocco’s Exchange Office announced in September 2020 that Morocco’s net flow of foreign direct investment (FDI) reached MAD 9.02 billion (over $980 million) at the end of July, representing a decrease of 21.5% compared to the same period a year earlier.

Meanwhile, Morocco’s reinvigorated investment efforts in Africa represent growth from MAD 907 million ($100 million) in 2007 to MAD 5.4 billion (nearly $700 million) in 2019. The investments represent 47% of all Moroccan foreign direct investment (FDI).

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