Morocco’s Economic Boom: From Infrastructure Giant to Global Industrial Hub

In an article titled "Morocco is now a commercial and industrial power", The Economist demonstrates how Morocco has become, under the impetus of King Mohammed VI, an essential industrial and commercial hub, capable of attracting both Europe, Africa and Asia. The British magazine reports that the kingdom has attracted around $40 billion in greenfield industrial investments since 2020, positioning itself among the world’s top recipients. Morocco has massively invested in power generation, ports, railways, roads and solar infrastructure.

"Between 2001 and 2017, Morocco devoted between 25% and 38% of its spending to this infrastructure, one of the highest rates in the world," the publication notes. "These efforts have made it possible, among other things, to launch a high-speed train that runs along the west coast of the country. On the road leading to Tanger Med, motorists come across endless wind and solar farms, as well as special economic zones ready to welcome investors," the British magazine notes. From Tanger Med, ships leave the port every hour bound for Europe, carrying vehicles as well as automotive parts and industrial components.

These efforts have been successful. Moroccan exports have soared by two-thirds in five years. Thanks to the free trade agreement signed with the European Union in 2000, followed by preferential agreements with 60 other countries, Morocco has been able to attract major investments from automotive manufacturers such as Renault, and then Stellantis. This dynamic has also allowed suppliers such as Yazaki, a component manufacturer, to set up there in turn. South Korea’s Posco and France’s Engie have set up shop in Casablanca Finance City, a financial hub focused on the continent.

The current momentum is not about to stop. Morocco will continue to gain strength on the global economic stage.