Located in the north-west of Africa, facing Europe, Morocco "Land of Light" has a unique geographical situation, at the crossroads of the European and African continents. Bordered to the north by the Strait of Gibraltar and the Mediterranean, and open to the west on the Atlantic, the country extends over 3500 km of coastline and offers a diversity of very attractive natural landscapes.
Neighbouring Algeria to the east and Mauritania to the south, Morocco covers an area of 710,850 km² and has a population of about 36 million.
Besides its strategic position and plural history which attract tourists, the country has many assets that entice FDI. Its political and macro-economic stability, its massive infrastructure development projects, its ambitious sectoral strategies, its numerous legal, regulatory and institutional reforms, its young and qualified population, and its economic openness have enabled the Kingdom to increase its competitiveness and attract large foreign enterprises.
Morocco's historic economic sectors are textiles, agribusiness, oil refining and electronics assembly. In recent years, thanks to investment incentives, new sectors have emerged, such as chemicals, automotive, aviation and IT.
In 2021, GDP growth in Morocco rebounded to 7.4%, after a 6.3% decline in 2020. In the fourth quarter of 2022, the Moroccan economy is expected to grow 1.4% compared to 1.8% in the third quarter of 2022.
Positioned as a regional production and export hub for foreign businesses, Morocco is pursuing its reforms announced in the economic recovery plan, launched in 2020, and outlined in the New Development Model, in May 2021.
Under Royal impetus, the Moroccan government is actively pursuing its initiatives and steps in favour of foreign investment and is paying special attention to members of the Moroccan community living abroad. It encourages the private sector to become the driving force of the Moroccan economy.