Highlights from our Morocco Economic Recovery Report

Oxford Business Group has recently launched its “Morocco Economic Recovery Report”, produced in partnership with the Moroccan Agency for the Development of Investment and Exports (AMDIE).

The study provides an overview of Morocco’s post-pandemic economy, presenting a summary of the measures implemented by the government as well as the initiatives of the private sector to stimulate business and in particular attract foreign direct investment.

The report covers some of the key sectors of the economy identified as having potential to attract new investment.  Such as agro-industry, pharmaceuticals, aeronautics and automotive, as well as new technologies and offshoring. 

Whilst Morocco was impacted by the Covid-19 pandemic, experiencing its first recession since 1997, the country has managed to return to growth quickly. According to the IMF, the country’s GDP grew at 6% in 2021 and is projected to grow 3% in 2022. 

This is in large part a result of a series of measures put in place by the Moroccan authorities to support the economy.  

First, the strengthening of Morocco's African orientation. The country applied for membership of ECOWAS in 2017, and the subsequent activation of the African Continental Free Trade Area in January 2021 are attractive to Moroccan and foreign investors alike who see growing integration with African counterparts as part of a wider strategy to develop key sectors and catalyse inclusive growth.

Second, at the beginning of the pandemic, the Moroccan government quickly put in place a series of measures such as financial support to help individuals and companies, and additional funding to health care facilities. The August 2020 Economic Recovery Plan, worth an estimated 11% of GDP, has significantly advanced the universal health coverage agenda and reformed the public sector. 

Third, the promotion of foreign direct investment into Morocco has become even more refocused.
As was seen at the launch of the Morocco Now Investment initiative by the Moroccan Agency for Investment and Export Development at the Dubai Expo.

The report also examines Environmental, Social and Governance principles, which are increasingly important to investors as well as the country as a key player in renewable energy in Africa.

Click here to download our Morocco Economic Recovery Report.