Foreign investments, private loans rose by 213% during last 5 years
Morocco, Economics, 9/24/2004

Foreign investments and private loans in Morocco reached 98.7 billion Dirhams (around US$ 11 billion) during the five last years, against 31.5 billions during 1994-1998, i.e. a 213% rise.

Figures made public Thursday by the Direction of Investments show that 2001 was the richest in foreign investment and loans receipt with 33.27 billion Dirhams.

Between 1994 and 1998, the highest figure was scored in 1997, with 12.3 billion dirhams.

The document explains the significant evolution between the two periods mainly by the growing interest due to the government's efforts to provide a sound climate for foreign investments.

The Direction points out in particular to the 14.15 billion DH receipt allotted to the repurchase of the tobacco company by the French-Spanish group Altadis.

Concerning the origin of foreign investments in 2003, the document places Spain on the top with 18.18 billion (77%), followed by France with 2.9 billion (12%) and the United States with 476 million DH (2%).

In terms of sectors, 18.9 billion DH went to industry, i.e. more than 80%, 2 billions to real estate (6,8%), 883 millions to services and 630 millions to telecoms.

The Direction of Investments concludes that the amount of the foreign investments in 2003 represented 5,6% of the 418.6 billion DH GDP. This rate was exceeded only by that of 2001, which had reached 8.7%.

The document includes a chapter reporting various measures of economic, institutional, legislative and legal implementations to improve Morocco's attraction.

Previous Stories:
  Ankara determined to make Morocco a hub for Turkish operators   (9/23/2004)
  Moroccan Central Bank law reform to enhance bank's autonomy   (9/22/2004)
  Egypt, Morocco sign agreement to foster tourism cooperation   (9/18/2004)

Please add a link on your webiste pointing to ArabicNews.com and bookmark ArabicNews.com & subscribe to our daily email news bulletin.

Search