Foreign investments in Morocco grew by 246% in 2003

Foreign investments in Morocco reached 23.5 billion DH (2.35 billion Euro) in 2003, which is a 246% increase compared to 6.8 billion DH 680 million Euro) in 2002, says a report of the investments department.

Foreign direct investments and loans reached a record level of 98.7 billion DH during the last five years, as compared to 31.5 billion DH in the 1994-1998 period, says the report, which ascribes this good performance to Moroccan authorities' efforts to improve the investment atmosphere in Morocco.

European Union countries remain the largest investors in Morocco, with a share of 91%, with investments from Spain worth 18.2 billion and from France 2.9 billion DH.

Investments in industrial projects come on top with 18.87 million DH invested, followed by real estate (some 2 billion DH), services (884 million DH) and telecoms (633,5 millions DH).