Ireland Heads List of Foreign Investors in Morocco

Rabat – Recent figures from the Moroccan Foreign Exchange Office show that Ireland topped the list countries with regard to foreign direct investment (FDI) in Morocco, outperforming France, whose net FDI flow stood at MAD 8.12 billion ($ 839 million) in 2018 and MAD 7.73 billion ($799 million) in 2017. According to the office, foreign direct investment from Ireland stood at MAD 9.7 billion, making the country the main investor in the Moroccan kingdom.Slipping down to second place was France, with a net flow of MAD 3.77 billion ($389 million), followed by Denmark with MAD 3.18 billion ($328 million), then the United Arab Emirates, with MAD 2.79 billion ($288 million), and United States with a MAD 2.19 billion ($226 million) net flow. Spain held the sixth position despite witnessing an uptick in net flow from MAD 1.29 billion ($133 million) in 2017 to MAD 1.98 billion ($204 million) in 2018. Foreign direct investment net flows injected in Morocco totaled MAD 34.16 billion in 2018, a marked increase of 25.9% the previous year after the North African country witnessed a decline in foreign direct investment in 2014 and 2015 following the global recession.Read also: Elalamy: India Can Use Moroccan Platform to Increase African InvestmentForeign direct investment from Ireland is mainly going towards the insurance sector. A chart of revenue from direct investment from the Exchange Office shows that the investors are attracted by several activities, including the insurance activities (MAD 9.6 billion) in 2018 and commerce for MAD 55 million.Japan also witnessed considerable growth in terms of FDI in Morocco, rising from MAD 5 million in 2017 to MAD 1.58 billion in 2018.In 2017, Morocco placed among the top 5 host countries of foreign direct investment, according to the 2018 world Investment Report.The index shows that there are three areas that attracted foreign investment in 2018, accounting for more than half of direct investment in the country, namely insurance and finance services, totaling MAD 9.66 billion last year; the real estate sector, with MAD 5.35 billion; and manufacturing industries, with MAD 4.88 billion.

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