Morocco, top outperforming FDI destination in 2023 – The North Africa Post

Morocco was the top outperforming destination of the Greenfield Foreign Direct Investments (FDI) in 2023, as it attracted worldwide commitments totaling $34 billion worth of investment projects. It has also attracted major FDI projects in renewable energy, chemicals, and tourism. Zhejiang-based mining giant Huayou Cobalt also plans to invest $19.5bn (Dh200bn) into an EV battery components factory, fDi Markets noted. Large FDI projects in strategic sectors can be transformational for host economies by creating jobs and helping to foster innovation and diversification. Besides, countries attracting major FDI projects in strategic sectors can integrate more with the global economy and move up global value chains.