Morocco Forecasts Surge in FDI for Automotive and Green Hydrogen Sectors
Key Ideas
- Morocco anticipates increased foreign investments in automotive and green hydrogen industries, following initiatives like the L'Offre Maroc program.
- The automotive sector in Morocco is boosted by significant investments, including a multi-billion dollar investment by Chinese company Gotion for an electric vehicle battery factory.
- France leads in foreign direct investments in Morocco, with industries like real estate and transportation being attractive sectors for FDI.
- The report highlights the growth of medium-technology products in exports, driven by sectors like automotive and household appliances, while low-tech and natural resource-based exports have decreased.
Morocco is expecting a rise in foreign direct investments (FDI) in the automotive and green hydrogen sectors based on the economic and financial report accompanying the draft finance law for 2025. The report mentions the decision of Chinese high-tech company Gotion to establish a $6.4 billion battery factory for electric vehicles in Morocco. Additionally, it underscores the growing interest in green hydrogen projects in the country, with plans for production exceeding 3 million tonnes. In 2023, Morocco witnessed a decline in FDI, but by the first eight months of 2024, FDI had increased by 55.1%. France leads in foreign investments in Morocco, with sectors like industry and real estate being particularly attractive. The automotive industry is thriving, with exports of medium-technology products on the rise, including vehicles and household appliances. Conversely, low-tech and natural resource-based exports have seen a decrease over the years, according to the report.