The US State Department has highlighted the assets that make of Morocco a magnet for foreign investments, such as its positive macro-economic policies, trade liberalization, and structural reforms. “Morocco actively encourages and facilitates foreign investment, particularly in export sectors like manufacturing, through positive macro-economic policies, trade liberalization, investment incentives, and structural reforms,” said the US State Department in its “2024 Investment Climate Statements” published Wednesday July 17. The Kingdom “implements strategies aimed at boosting employment, attracting foreign investment, and raising performance and output, designating renewables, automotive, aeronautics, textiles, pharmaceuticals, outsourcing, and agro-industry as key industries,” the report added. In February 2023, Morocco was removed from the Financial Action Task Force’s (FATF) “grey list” following a series of reforms to strengthen its anti-money laundering and counter terrorist financing legislation, regulations, and criminal penalties, the US State department stressed. The Investment Climate Statements by the Department of State help U.S. companies make informed business decisions by providing up-to-date information on the investment climates of more than 165 countries and economies.

Source: The North Africa Journal July 17, 2024 22:32 UTC