|Official name||Kingdom of Morocco|
|Local currency||Maroccan Dirham (MAD)|
|Official languages||Arabic, Tamazight, French, English, Spanish|
Morocco is a stable country both politically and economically, thanks to reforms that lead to continuous drive for openness and democracy- Morocco is the first competitive country in North Africa and the second most attractive investment destination in Africa. The modern legal and regulatory framework implemented by Morocco, created a particularly attractive environment for investors with more than 50 non-double taxation and investment protection agreements; no restrictions on capital; free repatriation of profits and capital for non-residents.
Energy and Environment
A long-term strategic vision with ambitious energy transition plan made Morocco among the greenest and lowest carbon countries in the world. Morocco has accelerated the renewable deployment and aims to reach 52% energy mix by 2030 including solar, wind and hydro energies. 37% of the energy produced in 2020 is from renewable source (first most attractive country in Africa by Renewable Energy Country Attractiveness Index 2021). This wise and long-term vision allow Morocco to mobilize investment of $ 6 billion in 2021.
The automotive industry in Morocco has more than 50 years of experience. The automotive journey started back in the 60’s with the creation of the first assembly line. The Kingdom succeeded in securing the assembly industry with car manufacturers establishment and hundreds of international suppliers. During the last decade, Moroccan automotive industry has shown continuous growth in terms of export, companies established and job creation. Today, the automotive sector benefits from qualified human resources, world-class infrastructure and the commitment of the Government to support its development.
The Moroccan textile industry has an anchored historical know-how and is considered as a flagship of the Moroccan industry. It has reached an outstanding resilience and maturity and contributes to the recognition of the “Made in Morocco” worldwide with the presence of key international players. With more than 189K employees, the textile sector is among the first industrial employer in Morocco.
The Agri-food industry is an emblematic sector of the Moroccan economy, with over $17 Billion annual revenue, and more than 161,000 jobs. Several foreign companies invested in the country attracted by the market potential and governmental incentives. The sector is dynamic and resilient which ensure the supply of local and export market with competitive products, reinforcing its strong position and worldwide growth.