The rise in infrastructure investment in Morocco over the past 25 years has catalysed vigorous economic growth and attracted foreign capital.
French geopolitical magazine Revue Conflits has published an article highlighting the impact of infrastructure investment on Morocco’s economic growth over the past 25 years.
Entitled “Infrastructure and economic development: the example of Morocco,” the article highlights how sustained efforts in the transport, energy and digital connectivity sectors have boosted the country’s competitiveness and attracted substantial foreign investment.
Since 1999, Morocco has undergone a remarkable economic transformation, largely due to the modernisation of its infrastructure.
Between 2007 and 2023, the country attracted around $37.5 billion in foreign direct investment (FDI), with an annual average of $2.2 billion. By 2023, Ernst & Young has ranked Morocco third in Africa for the number of FDI projects, totalling $21 billion.
This impressive performance is the result of business-friendly economic and legal reforms, such as the Law on Price Freedom and Competition of 2000, and the new Investment Charter of 2022. These reforms have created a business-friendly environment, stimulating massive investment in infrastructure.
The World Bank estimates that Morocco has spent 11.2 per cent of GDP on infrastructure over the past two decades, exceeding the recommendations of the UN Millennium Development Goals.
Notable improvements include the modernisation of roads, with 62.7 per cent of national roads in good condition by 2020 and the expansion of the rail network, which now extends over 2,110 km.
The Tangiers Med port, operational since 2004, has become a major Mediterranean hub, handling around 8.6 million TEU containers and 122
million tonnes of traffic by 2023. The National Port Strategy 2030 provides for investments of 7.5 billion dollars to modernise and extend this infrastructure.
On the energy front, Morocco launched a strategy in 2009 to reduce its dependence on fossil fuels and promote renewable energies. The Noor Ouarzazate solar complex and the Tarfaya wind farm are examples of projects that have made Morocco an African leader in clean energy.
Digital development has also been a priority, with 55.2 million mobile subscribers and 38.3 million internet subscribers by the end of 2023. 5G service is planned by 2030, reinforcing Morocco’s position as Africa’s ICT leader.
These investments have enabled Morocco to diversify its economy, particularly in the automotive and aerospace sectors. Between 2012 and
2022, vehicle production almost quadrupled and the pharmaceutical industry saw its revenues exceed 2.1 billion dollars in 2023.
MN/ac/Sf/fss/GIK/APA