The strategic and exceptional partnership uniting Morocco and France continues to deepen. The strong dynamic of cross-investments, animating the two countries within a framework of trust and mutual respect, is the perfect illustration of this. According to the Foreign Exchange Office, French foreign direct investments in Morocco recorded a significant increase of 79% in 2023.
For many centuries, Morocco and France have maintained close and diversified relations, marked by a spirit of friendship and partnership.
Indeed, the two countries have agreed to engage in joint actions relating to several issues of common interest relating to various industrial, environmental, cultural fields… And this, while developing strong diplomatic ties based on consultation regular and multidimensional coordination.
This dynamic has made it possible, over the years, to address numerous common challenges facing the two countries, notably through the establishment of multiple projects relating to close and fruitful cooperation, the importance of which has been recognized on many occasions. repeated, by French President Emmanuel Macron who also declared, during a friendship and working visit to Morocco, on June 14, 2017, that Morocco represents a “friendly country and a strategic partner for France”.
France also represents the 3rd destination for net IDME flows with 1.4 billion dirhams, for the year 2023, after the United Arab Emirates and Senegal, according to data from the Office’s latest annual report. exchanges, titled “Balance of payments and global external position of Morocco”.
Morocco, “the place to be” for French investors
Rich in many assets, Morocco is proving to be a preferred destination for French investors.
Indeed, due to its favorable business climate and its advantageous geostrategic position, the kingdom is attracting more and more foreign investors.
Moreover, the Ambassador of the French Republic in Rabat, Christophe Lecourtier, described, in an interview with Radio 2M, on November 13, 2023, the business environment offered by Morocco “absolutely remarkable”. Emphasizing, in this sense, that the kingdom constitutes “an opportunity for Europe and France”.
It should be remembered, in this regard, that France represents the first foreign investor in Morocco with a multi-sector presence. Indeed, multiple automobile production units have been established in the kingdom by French giants. Something which contributed to strengthening Morocco’s positioning as an automotive hub in Africa.
Adding to this, the various investments recorded in the renewable energy sector have enabled the development of multiple ambitious projects including the Noor Ouarzazate complex which constitutes one of the largest solar power plants in the world.
According to data from the Office des Changes, French foreign direct investments (FDI) in Morocco are clearly improving. The net flow of FDI was, in 2023, 6.8 billion DH and a share of 61.4% of the total net flow of FDI. While it was set, in 2022, at +3.8 billion DH, an increase of 79.5%. This rate should further increase, particularly after the explicit recognition of Moroccan sovereignty over the Sahara by French President Emmanuel Macron. Something which opens the way to more ambitious economic partnerships promising an even more prosperous future for economic relations between the two nations.
As a reminder, these French investments are favored by advantageous bilateral agreements, such as the Franco-Moroccan Tax Convention signed in 1970 or the Bilateral Investment Protection Treaty.
