Morocco attracts $500 million in foreign investment in 1998

Out of the $3.1 billion foreign direct investment (FDI) injected in the Arab world, Morocco obtained $500 million, ranking 2nd behind Egypt which received $834 million.

According to the latest report of the Arab Investment Guarantee Corporation, Saudi Arabia was in 1998 the 3rd largest recipient of FDI with $400 million, followed by Tunisia ($360 million), Lebanon ($337 million) and Libya ($11 million).

The FDI attracted by Morocco in 1998 regressed however by 50% compared to the foreign capital invested in the North African country in 1997, the Kuwait-based Corporation adds, noting that France remains the largest foreign investor in Morocco, ahead of the USA and Spain.